Chardan Capital analyst Gbola Amusa maintained a Buy rating on Crispr Therapeutics AG (NASDAQ: CRSP) today and set a price target of $72.50. The company’s shares closed yesterday at $56.78, close to its 52-week high of $61.24.
“We are overweight the gene editing space on “scarcity value”. We believe there are far fewer credible companies in gene editing than there are maturing opportunities to meet profound societal needs, and see the likelihood big biopharma recognizes this scarcity value and continues to increase exposures. Accordingly, we expect broad outperformance for the sector and anticipate investors may take positions based on certain company characteristics. CRISPR Therapeutics (Buy, PT$72.50) has perhaps the most important CRISPR-based gene editing catalysts in 2018. Due to likely clinical entry for CRISPR and due separately to the company’s robust ex vivo engineered immune cell programs, CRISPR may appeal most to sector investors looking for tangible products to model.”
According to TipRanks.com, Amusa is a 5-star analyst with an average return of 22.0% and a 50.9% success rate. Amusa covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Nightstar Therapeutics Limited, and Arbutus Biopharma Corporation.
Currently, the analyst consensus on Crispr Therapeutics AG is Strong Buy and the average price target is $69.58, representing a 22.5% upside.
In a report issued on May 8, Piper Jaffray also reiterated a Buy rating on the stock with a $67 price target.
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The company has a one-year high of $61.24 and a one-year low of $13.50. Currently, Crispr Therapeutics AG has an average volume of 1.21M.
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CRISPR Therapeutics AG develops gene-based medicines for patients with serious diseases. Its therapeutic molecular level using the breakthrough genome-editing technology called CRISPR-Cas9. The company was founded by Rodger Novak, Emmanuelle Charpentier and Shaun Patrick Foy in 2014 and is headquartered in Basel, Switzerland.