3 Reason Why This Analyst Says CRISPR Therapeutics Is A Biotech Winner

CRISPR Therapeutics AG CRSP has a diversified pipeline with potential CTX001 commercialization and CTX110 potential approval expected in 2024, according to BMO Capital Markets.

The CRISPR Therapeutics Analyst: Kostas Biliouris initiated coverage of CRISPR Therapeutics with an Outperform rating and a price target of $98.

The CRISPR Therapeutics Thesis: The company is a leader in the gene-editing space, Biliouris said in the initiation note.

He mentioned three reasons for CRISPR being a biotech winner:

• “Potential CTX001 commercialization in hemoglobinopathies in ~2024E can confer a first-mover advantage and a significant revenue stream providing durable downside protection,” the analyst wrote.
• The company’s first-gen allogeneic, CTX110, could be potentially approved in 2024 and validate the CAR T platform, which can provide long-term upside, he mentioned.
• “CRISPR’s rich pipeline and partnerships encompass versatile editing and delivery approaches, providing optionality and increasing the overall probability of success,” Biliouris further stated.

CRSP Price Action: Shares of CRISPR Therapeutics had risen by 7.91% to $69.75 at the time of publication Friday morning.

Photo: Yurchanka Siarhei via Shutterstock