CRISPR Therapeutics Receives FDA Approval for Gene Therapy, Market Potential Expands
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
0mins
Source: Fool
- Gene Therapy Breakthrough: CRISPR Therapeutics' Casgevy has received FDA approval, marking the first gene therapy for sickle cell disease, which validates the underlying science and is expected to drive future revenue growth for the company.
- Market Growth Potential: The global CRISPR therapy market is projected to grow at an average annual rate of nearly 17% through 2034, positioning CRISPR Therapeutics to capture a significant share of this rapidly expanding sector, bolstered by its Nobel Prize-winning co-founder.
- Revenue Expectations Rise: Although Casgevy's revenue is projected to be only a few million dollars this year, it is expected to surge to over $100 million next year and approach $300 million the following year, indicating strong growth potential in the gene therapy market.
- Long-Term Investment Value: While medical advancements are slow, investors need a long-term mindset, and the technological progress and market outlook for CRISPR Therapeutics make it a compelling candidate for long-term investment consideration.
CRSP
$56.46+Infinity%1D
Analyst Views on CRSP
Wall Street analysts forecast CRSP stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for CRSP is 73.41 USD with a low forecast of 40.00 USD and a high forecast of 105.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
20 Analyst Rating
13 Buy
7 Hold
0 Sell
Moderate Buy
Current: 57.910
Low
40.00
Averages
73.41
High
105.00
Current: 57.910
Low
40.00
Averages
73.41
High
105.00
About CRSP
CRISPR Therapeutics AG is a Switzerland-based gene editing company focused on the development of CRISPR/Cas9-based therapeutics. CRISPR/Cas9 stands for Clustered Regularly Interspaced Short Palindromic Repeats (CRISPR)/CRISPR-associated protein 9 (Cas9) and is a technology for gene editing, the process of precisely altering specific sequences of genomic DNA. The Company aims to apply this technology to disrupt, delete, correct and insert genes to treat genetically-defined diseases and to engineer advanced cellular therapies. The Company has acquired the rights to the intellectual property (IP) encompassing CRISPR/Cas9 and related technologies and is also involved in its own IP research and additional in-licensing efforts. The Company product development and partnership strategies are designed to exploit the full potential of the CRISPR/Cas9 platform while maximizing the probability of successfully developing their product candidates.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
