VRTX - Crispr Therapeutics: Waiting On Early Data In 2H 2020 But The Clinical Pipeline Shows Promise (113% Upside)

• CRISPR Therapeutics is a gene-editing company founded in 2013 focused on the development and application of CRISPR/Cas9 for therapeutics.
• CRSP's pipeline consists of 9 therapeutics: 4 early-clinical phases targeting TDT, SCD, and immuno-oncology and 5 in the research phase.
• CRSP expanded its partnership with Vertex Pharmaceuticals in 2019 bringing total potential milestone/royalty payments up to $1.25B.
• CRSP has built a $945M cash cushion to support its pipeline, but no worthwhile milestone payments expected by analysts for 2020-2021.
• In summary, with promising therapeutics on a 6-month update basis, a well-reserved cash cushion, and Vertex's support on CTX001, CRSP is a "buy" at a 2-year price target of $204.63 (+113% upside).

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