Evercore ISI has upgraded CRISPR Therapeutics (CRSP, Financial) to Outperform, citing multiple upcoming catalysts that could drive the stock higher.
The firm is now factoring in CTX320 and CTX310 in vivo programs into its price target, assigning a 10% probability of success for CTX320 and 5% for CTX310. Data for CTX320 is expected in Q2, while CTX310 results are also anticipated later this year.
Additional key catalysts include:
Evercore also highlighted anticipated strong growth in cell collections for Casgevy, CRISPR's gene-editing therapy co-marketed with Vertex Pharmaceuticals (VRTX, Financial).
Reflecting these potential tailwinds, Evercore raised its price target on CRSP to $99 from $60.
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