CRSP - Is CRISPR Stock Going to $95? 1 Wall Street Analyst Thinks So.
2024-05-15 11:11:00 ET
CRISPR Therapeutics (NASDAQ: CRSP) closed last week down 8.5% after reporting first-quarter "earnings" results that looked a lot more like losses. Lacking a big milestone payment like the one in Q1 2023, CRISPR's revenue plummeted 99.5% year over year, and the company reported a per-share loss of $1.43 -- more than twice the year-ago loss.
And that's OK -- at least according to Oppenheimer analyst Jay Olson, who on Friday lowered his price target on CRISPR stock to $95 a share, but maintained an outperform rating on the stock.
CRISPR remains on track to start clinical trials for CTX112, a gene-editing treatment for systemic lupus erythematosus, this year, in addition to ongoing cancer and autoimmune disorder trials. And while success is never certain in the biotech field , CRISPR boasts a $2.1 billion bank account to fund its work.
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Is CRISPR Stock Going to $95? 1 Wall Street Analyst Thinks So.