Piper Sandler Reiterates Bullish View on CRISPR Therapeutics (CRSP) Amid New Manufacturing Facility

Piper Sandler analyst Edward Tenthoff reiterated an Overweight rating and $104.00 price target on CRISPR Therapeutics (NASDAQ: CRSP) citing a new manufacturing facility to produce cell therapies for clinical and commercial use, the hiring of up to 100 more full-time employees, Car-T advancing, and AACR II showing superior features of Allo Car-T Pipeline.

The analyst stated "CRISPR announced a new manufacturing facility to produce cell therapies for clinical and commercial use. The company has steadily advanced its wholly-owned, allogeneic CAR-T pipeline with CTX110 data targeting CD19 by YE:20. The Phase I/II study of CTX120 targeting BCMA is enrolling multiple myeloma patients and the Phase I/II study of CTX130 targeting CD70 has initiated enrollment of renal cell carcinoma patients. Recently updated Phase I/II CTX001 data showed transfusion-dependent beta-thalassemia (TDT) patient is still transfusion independent now out to 15 months, and a new TDT patient is transfusion independent at 5 months. The woman with Sickle Cell Disease (SCD) is now veno-occlusive crisis (VOC) free out to 9 months. CLIMB-111 has dosed 5 TDT patients and CLIMB-121 two SCD patients, all of whom successfully engrafted. Both studies have reinitiated dosing and are open for concurrent dosing with additional data in 2H:20. CRISPR remains a top pick for 2020; we reiterate our Overweight rating and $104 target."

For an analyst ratings summary and ratings history on CRISPR Therapeutics click here. For more ratings news on CRISPR Therapeutics click here.

Shares of CRISPR Therapeutics closed at $74.04 yesterday.

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