Needham analyst Gil Blum has maintained their bullish stance on CRSP stock, giving a Buy rating today.
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Gil Blum has given his Buy rating due to a combination of factors that position Crispr Therapeutics AG favorably in the market. One significant aspect is the company’s financial stability, as it concluded the year 2024 with a substantial cash reserve of $1.9 billion. This strong financial position provides Crispr with the resources necessary to continue its research and development activities and to navigate potential regulatory challenges effectively.
Moreover, the company is making strategic advancements in its pipeline, particularly with its CTX112 program, which is expected to deliver initial AID data by mid-2025. The estimated potential peak sales for CTX112 in the US and EU5 markets could reach approximately $2 billion by 2037, underscoring its long-term revenue potential. Additionally, Crispr is actively engaging with the FDA to clarify the regulatory pathway for CTX112 in treating NHL, which could further enhance its market prospects. These strategic initiatives and financial health underpin the Buy rating and the maintained price target of $84.
Blum covers the Healthcare sector, focusing on stocks such as Cartesian Therapeutics, Sarepta Therapeutics, and Autolus Therapeutics. According to TipRanks, Blum has an average return of -9.0% and a 32.64% success rate on recommended stocks.