Citi Sees 60% Upside in CRISPR Therapeutics. Here's What Has to Go Right.
Most of any gains (or lack thereof) from here will be driven by just three factors.
Overview
It's been a disappointing past few years for patient shareholders of CRISPR Therapeutics (NASDAQ: CRSP). Despite the company passing multiple major milestones during this stretch, this biopharma/biotechnology stock's gone nowhere since falling back from its early 2021 peak.
Namely, in late 2023, the U.S. Food and Drug Administration approved CRISPR's Casgevy as a treatment for sickle cell disease, making it one of the nation's very first gene-editing-based therapies approved for any use. Patient uptake began shortly thereafter.
Details
Analysts aren't deterred though, including Citi's Yigal Nochomovitz, who recently raised his price target on CRSPR from $82 to $88 per share on growing demand for the aforementioned Casgevy. That's 60% above the stock's present price.
Source
Originally published at www.fool.com.