NTLA - 3 Profitable CRISPR Stocks Earning Analysts' Praise
2024-07-09 07:59:00 ET
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
CRISPR technology, or Clustered Regularly Interspaced Short Palindromic Repeats, is a revolutionary gene-editing tool that allows scientists to make precise modifications to the DNA of living organisms. It’s one of the hottest trends in the stock market today, so I’ve made a list of three of the most profitable CRISPR stocks to consider.
The CRISPR technology market is rapidly evolving, with significant advancements that hold immense potential for the future of medicine. As the technology becomes more refined and enters mainstream applications, several profitable CRISPR stocks are getting praise from analysts for their profitability and innovative approaches.
The economic implications of CRISPR technology are vast. Analysts predict that genetic editing could revolutionize the $50 billion genetic disorders drug market by potentially curing over 6,000 genetic disorders.
So with that being said, here are three of the most profitable CRISPR stocks for investors to consider adding to their portfolios. Don’t miss out on these opportunities.
CRISPR Therapeutics AG (CRSP)
CRISPR Therapeutics AG (NASDAQ: CRSP ) is a leading company in gene-editing. It focuses on developing transformative gene-based medicines using its CRISPR/Cas9 technology.
CRSP shows potential to become a profitable stock, though it is not currently profitable. The company has made significant progress in developing gene-editing therapies, with its lead product Casgevy recently approved in several countries for treating sickle cell disease and transfusion-dependent beta thalassemia.
While the company reported a net loss of $116.6 million in the first quarter, it has a strong balance sheet with $2.1 billion in cash and investments. This provides a substantial runway to continue advancing its pipeline. The stock currently trades at $53, well below the average analyst price target of $80, suggesting analysts see significant upside potential.
As Casgevy sales ramp up and other pipeline candidates prove successful in clinical trials and reach the market, CRISPR Therapeutics could potentially become profitable in the coming years.
Intellia Therapeutics (NTLA)
Intellia Therapeutics (NASDAQ: NTLA ) is another major player in the CRISPR space. It focuses on developing curative therapeutics using in vivo and ex vivo CRISPR gene editing.
The company is rapidly enrolling patients in pivotal Phase 3 trials and expects key data readouts in the next 12 to 18 months. Intellia also has a strong cash position of $953 million as of the first quarter, which is expected to fund operations into late 2026.
Analysts are generally bullish on Intellia’s prospects, with an average 12-month price target of nearly $67, representing a 194% upside from the current price of less than $23. The consensus rating is “buy.” While the company is losing money, analysts project significant revenue growth in the coming years, forecasting revenue to grow from $72.2 million in 2024 to $1.69 billion by 2028. However, profitability is not expected until around 2027 to 2028 based on EPS forecasts.
NTLA’s pipeline could position it as one of those highly profitable CRISPR stocks for investors to consider.
Editas Medicine (EDIT)
Editas Medicine (NASDAQ: EDIT ) specializes in gene editing technologies to develop genomic medicines for various serious diseases.
The company made significant progress in its lead programs , including completing enrollment of the adult cohort and enrolling multiple patients in the adolescent cohort of its Phase 1/2/3 RUBY trial for reni-cel in severe sickle cell disease. Editas is also advancing its program for transfusion-dependent beta thalassemia and developing in vivo gene editing capabilities.
While Editas reported a net loss of $62 million in the first quarter, it has a strong cash position of $376.8 million, which is expected to fund operations into 2026. Analysts are generally optimistic about Editas’ prospects, with an average 12-month price target of $12.90, representing a 181% upside from the current price of less than $5. The consensus rating is “buy.”
It then offers an attractive risk-to-return profile while also offering the promise of becoming profitable as time moves forward.
On the date of publication, Matthew Farley did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed are those of the writer, subject to the InvestorPlace.com Publishing Guidelines .
On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Matthew started writing coverage of the financial markets during the crypto boom of 2017 and was also a team member of several fintech startups. He then started writing about Australian and U.S. equities for various publications. His work has appeared in MarketBeat, FXStreet, Cryptoslate, Seeking Alpha, and the New Scientist magazine, among others.
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