Alec Stranahan, an analyst from Bank of America Securities, reiterated the Buy rating on Crispr Therapeutics AG. The associated price target remains the same with $93.00.
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Alec Stranahan has given his Buy rating due to a combination of factors influencing Crispr Therapeutics AG’s promising outlook. The company is witnessing a positive trajectory in the launch of Casgevy, with increasing patient initiations and cell collections, suggesting a potential surge in revenues. This momentum is expected to stabilize over time as the patient base grows, reducing the variability in revenue recognition.
Additionally, the recent data on CTX310 has shown promising dose-dependent reductions in ANGPTL3, which could open up cardiovascular opportunities. The safety profile appears favorable, and the potential to impact both LDL and triglycerides positions it competitively against existing treatments. Furthermore, the preclinical results for CTX460 indicate a significant potential to address alpha-1 antitrypsin deficiency, potentially outperforming competitors. These developments, alongside strategic investments in manufacturing capacity and expansion of the addressable population, underpin the Buy rating.
In another report released yesterday, J.P. Morgan also reiterated a Buy rating on the stock with a $69.00 price target.