Salveen Richter, an analyst from Goldman Sachs, maintained the Hold rating on Crispr Therapeutics AG (CRSP – Research Report). The associated price target was lowered to $47.00.
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Salveen Richter’s rating is based on several factors influencing Crispr Therapeutics AG’s current position. The partnership with Sirius Therapeutics to develop SRSD107 presents a promising opportunity in the cardiovascular space, with the potential to address significant markets such as atrial fibrillation and venous thromboembolism. However, the full realization of this potential hinges on the successful outcome of upcoming clinical trials, particularly the Phase 2 study expected to yield results by 2026.
Despite the strategic alignment and the potential multi-billion dollar peak sales opportunity, the current market conditions and the inherent risks associated with drug development lead to a cautious stance. The company’s solid financial position, with $1.9 billion in cash and equivalents, supports its ongoing projects, yet the uncertainties surrounding clinical outcomes and market adoption warrant a Hold rating. This balanced view reflects both the opportunities and the risks involved in Crispr Therapeutics AG’s current trajectory.
Richter covers the Healthcare sector, focusing on stocks such as Biogen, Regeneron, and Crispr Therapeutics AG. According to TipRanks, Richter has an average return of 8.5% and a 40.14% success rate on recommended stocks.
In another report released on May 9, Barclays also maintained a Hold rating on the stock with a $42.00 price target.