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On Wednesday, Clear Street analysts elevated CRISPR Therapeutics (NASDAQ:CRSP) stock rating from Hold to Buy, setting a new price target at $45.00. The upgrade comes as the stock trades near $33, having declined over 14% in the past week according to InvestingPro data. The upgrade follows the company’s first-quarter 2025 results, which were released after the market closed and met analysts’ expectations.
CRISPR Therapeutics’ recent performance has been under scrutiny due to the slow launch of its Casgevy product. Clear Street analysts now believe that the market has adjusted its expectations to a more realistic level. The analysts noted that the initial data from the company’s ANGPTL3-targeting program for ASCVD, known as ’310, has confirmed CRISPR’s capabilities in in vivo liver targeting. InvestingPro analysis shows the company maintains a strong financial position with a current ratio of 22.07, holding more cash than debt on its balance sheet. This positive outcome has contributed to a more optimistic view of the company’s prospects.
Additionally, there is anticipation for the upcoming second-quarter 2025 readout from another of CRISPR’s programs, ’320, which targets Lp(a). The forthcoming data is expected to further influence the company’s stock performance.
Clear Street’s analysts emphasized that the potential upside, with a price target of $45.00 compared to CRISPR’s closing price of approximately $33.00 per share, justifies the upgrade. They believe that the current risk/reward balance has become favorable for investors.
CRISPR Therapeutics’ advancements in gene editing technology, particularly in the treatment of ASCVD through their ’310 program, have shown promising early results. With the upcoming ’320 program results, the company is poised for potential growth in the biotechnology sector. The stock upgrade by Clear Street reflects a renewed confidence in CRISPR Therapeutics’ trajectory and its ability to reach the newly established price target.
In other recent news, CRISPR Therapeutics reported a strong cash position of $1.86 billion in its first quarter financial update for 2025, reflecting financial stability and investor confidence. The company also received orphan drug designation from the FDA for its follicular lymphoma treatment, a significant step in developing therapies for rare diseases. Meanwhile, analysts from JMP have maintained a Market Outperform rating with an $86 price target, citing promising data from CRISPR’s in-vivo programs and expected updates in 2025 across its pipeline, including areas like immuno-oncology and diabetes treatments. Goldman Sachs, however, reiterated a Neutral rating with a $57 price target, focusing on the company’s strategic direction and its collaboration with Vertex Pharmaceuticals (NASDAQ:VRTX).
CRISPR Therapeutics is set to present initial Phase 1 study data from its cardiovascular assets, CTX310 and CTX320, in the first half of 2025. The company also plans to release data from its next-generation allogeneic CD19 CAR T therapy, CTX112, targeting B cell malignancies. In leadership changes, Chief Operating Officer Julianne Bruno announced her departure from CRISPR Therapeutics, ending a six-year tenure. This comes amid a broader shakeup in the biotech sector, influenced by the resignation of FDA’s top vaccine official, which has impacted several companies, including CRISPR Therapeutics.
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