TD Cowen analyst Tyler Van Buren maintained a Sell rating on Crispr Therapeutics AG (CRSP – Research Report) today and set a price target of $35.00.
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Tyler Van Buren has given his Sell rating due to a combination of factors, including Crispr Therapeutics AG’s challenging financial situation regarding their Casgevy program. Despite a slight increase in patient numbers, the company did not record any revenue from the $8 million in Q4 Casgevy sales reported by their partner, Vertex, and is not expected to report profits in the near future.
Moreover, the costs associated with Casgevy in 2024 were approximately $543 million, significantly outweighing the $10 million in revenue. Crispr also has a deferred payment obligation to Vertex of around $220 million, which adds to their financial burden. Consequently, Casgevy sales must grow considerably to cover these expenses, and with Crispr’s inability to defer its share of program costs beyond 2024, the company faces substantial financial challenges moving forward.
According to TipRanks, Van Buren is an analyst with an average return of -2.4% and a 39.58% success rate. Van Buren covers the Healthcare sector, focusing on stocks such as Regeneron, BridgeBio Pharma, and Gilead Sciences.