Chardan Capital analyst Gbola Amusa reiterated a Buy rating on Crispr Therapeutics AG (CRSP) yesterday and set a price target of $72.50. The company’s shares closed yesterday at $39.65.
Amusa observed:
“We understand the dosing of the 2nd patient will trigger a low-7-digit milestone payment from Vertex. CRISPR and Vertex plan to present data from the programs at scientific conferences “once there is sufficient data on multiple patients,” which could be this year (we see ASH in December as a possibility), but the companies have not provided firm guidance on timelines. CTX001 is, to our knowledge, the 1st CRISPR-based HSC editing therapy to be dosed in a company-sponsored trial. Sangamo Therapeutics (unrated) together with Company (unrated) have an analogous zinc finger nuclease-based therapy in phase I/II trials for beta-thalassemia and SCD. We expect both programs to be measured against bluebird bio’s (unrated) LentiGlobin ex vivo gene therapy for the same indications in terms of safety and efficacy.”
According to TipRanks.com, Amusa is a 5-star analyst with an average return of 16.3% and a 48.9% success rate. Amusa covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Catalyst Biosciences Inc, and Voyager Therapeutics Inc.
Crispr Therapeutics AG has an analyst consensus of Moderate Buy, with a price target consensus of $52.25, a 31.8% upside from current levels. In a report released yesterday, Piper Jaffray also reiterated a Buy rating on the stock with a $75 price target.
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Based on Crispr Therapeutics AG’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $50.71 million. In comparison, last year the company had a net profit of $140K.
Based on the recent corporate insider activity of 38 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CRSP in relation to earlier this year.
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CRISPR Therapeutics AG engages in the development and commercializtion of therapies derived from genome-editing technology. Its proprietary platform CRISPR/Cas9-based therapeutics allows for precise and directed changes to genomic DNA. The company was founded by Rodger Novak, Emmanuelle Charpentier, and Shaun Patrick Foy in 2014 and is headquartered in Zug, Switzerland.
