In a report released yesterday, Alan Carr from Needham maintained a Buy rating on Crispr Therapeutics AG (CRSP), with a price target of $62. The company’s shares opened today at $39.53.
Carr commented:
“Crispr reported 4Q18 financial results today and announced that the first patient has been administered Thalassemia trial. A second patient is expected to follow after engraftment and safety have been evaluated in the first patient. Mgmt expects enrollment to accelerate after the second patient is similarly evaluated. Crispr guided for CTX001 administration to the first patient in the 1/2 trial in mid-2019. Mgmt plans to announce interim results from the Beta Thalassemia trial after data from several patients have been collected, potentially YE19. CTX110 trial in CD19 malignancies is still expected in 1H19. Reiterate BUY. Treatment of the first patient represents an important milestone for the company and gene editing technology.”
According to TipRanks.com, Carr is a 4-star analyst with an average return of 3.0% and a 43.1% success rate. Carr covers the Healthcare sector, focusing on stocks such as Rhythm Pharmaceuticals Inc, Lexicon Pharmaceuticals, and Intercept Pharma.
Crispr Therapeutics AG has an analyst consensus of Moderate Buy, with a price target consensus of $52.25, a 32.2% 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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The company has a one-year high of $73.90 and a one-year low of $22.22. Currently, Crispr Therapeutics AG has an average volume of 838.6K.
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.
