Citi Sees 60% Upside in CRISPR Therapeutics. Here's What Has to Go Right.
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. 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. Continue reading