Citizens Financial Group maintained its Market Outperform rating and $80 price target for CRISPR Therapeutics on Tuesday, citing progress in the company’s gene therapy pipeline. The reiteration follows upcoming data presentations at the European Society of Cardiology Congress, which begins on August 28.
CRISPR Therapeutics is scheduled to present follow-up data for its in vivo gene therapy CTX310, designed to target ANGPTL3, at the congress. The therapy is positioned for severe hypertriglyceridemia and refractory hypercholesterolemia, offering a potential single-dose alternative to traditional lipid-lowering approaches such as PCSK9 inhibitors, oral drugs, siRNA, and monoclonal antibodies.
The analyst also highlighted the recent FDA label expansion for CASGEVY, CRISPR Therapeutics’ gene therapy developed in partnership with Vertex Pharmaceuticals. The updated approval now includes patients aged 2 years and older with transfusion-dependent beta-thalassemia and sickle cell disease. Vertex additionally presented data on Casgevy in children aged 5 to 11 years at a prior conference.
Citizens estimated a 10% to 15% increase in the total addressable market for CRISPR Therapeutics’ therapies due to the label expansion. The current stock price of $57.08 implies approximately 40% upside potential based on the $80 target, which remains unchanged from previous assessments by both Citizens and H.C. Wainwright.
Morgan Stanley, meanwhile, maintains an equal-weight rating with a $60 price target. Twelve analysts have revised their earnings estimates upward for the upcoming period, according to the report.
CRISPR Therapeutics’ shares were trading at $57.08 in recent activity, down 4.07% on the day, while pre-market activity showed a marginal decline of 0.09% to $57.03.
