CRISPR Therapeutics Stock Upgraded, Price Target Raised to $99

CRISPR Therapeutics has received an upgrade from Evercore ISI to 'Outperform,' driven by expectations surrounding its CTX320 and CTX310 in vivo programs, with projected data releases later this year. The firm raised its price target for CRSP from $60 to $99, reflecting confidence in the company's growth, particularly with its gene-editing therapy Casgevy, co-marketed with Vertex Pharmaceuticals. Meanwhile, CRISPR shares surged over 16% in response to this upgrade, crossing above their 200-day moving average. Analysts also noted the company's robust cash position of approximately $2 billion, which positions it well in the competitive biotech landscape. BMO Capital and JMP Securities have also affirmed 'Buy' ratings, citing CRISPR's promising pipeline and strategic opportunities for revenue generation. Overall, the market sentiment appears positive, bolstered by anticipated clinical data and strong financial backing.