JPMorgan analyst Brian Cheng initiated coverage of Crispr Therapeutics (CRSP) with an Overweight rating and $70 price target The firm believes investor should consider the shares as the company gets closer to “several inflection points across its portfolio.” Crispr has a “vastly different” setup relative to its gene-editing peers as Casgevy is partnered and its $2B cash reserve “offer good valuation support,” the analyst tells investors in a research note. JPMorgan sees potential for Crispr shares to get additional credit for Casgevy as sales “take off” and profits begin.
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