CRISPR Therapeutics AG (NASDAQ: CRSP) has experienced a significant boost in its stock price following the recent approval of its CRISPR/Cas9 gene-edited therapy for sickle cell disease. On November 20, 2023, the United Kingdom Medicines and Healthcare products Regulatory Agency (MHRA) granted conditional marketing authorization for CASGEVY, the gene-edited therapy, for eligible patients aged 12 and above.
This positive development has fueled the momentum in the stock, resulting in a remarkable 42% increase over the past week and an impressive 85% rise over the last month. Analysts currently hold an average price target of $84.45 for CRISPR shares, with 17 analysts giving positive ratings, five neutral ratings, and only one negative rating.
On Monday morning, the stock surged by 10.3% to reach $74.85. The surge can be directly attributed to the news of regulatory approval for the gene-edited therapy, which has instilled optimism among investors regarding the company’s future prospects. The conditional marketing authorization for CASGEVY in the U.K. is considered a significant milestone for CRISPR Therapeutics, contributing to the overall positive sentiment surrounding the stock.
In conclusion, the recent surge in CRISPR Therapeutics stock can be attributed to the regulatory approval of their gene-edited therapy for sickle cell disease. This approval has generated a sense of optimism among investors, leading to increased confidence in the company’s future prospects.
CRISPR Therapeutics AG
CRSP
Buy
Updated on: 03/12/2023
Financial Health
Healthy
Debt to equity ratio: Neutral
Price to earnings ratio: Strong Sell
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Neutral
CRSP Stock Performance: Mixed Results on November 20, 2023, Amidst Declining Earnings and Revenue
CRSP stock had a mixed performance on November 20, 2023. The stock opened at $69.58, higher than the previous close of $67.89. Throughout the day, it traded within a range of $68.20 to $76.12. The trading volume for the day was 399,827, which was significantly lower than the average volume of 1,412,120 over the past three months.
CRSP has a market capitalization of $4.7 billion. The company’s earnings growth in the last year was -268.18%. However, there was a positive earnings growth of 28.15% expected for this year. The forecast for the next five years shows no expected earnings growth.
The revenue growth for CRSP in the last year was -99.87%. The price-to-earnings (P/E) ratio for the stock is not available (NM). The price-to-sales ratio stands at a staggering 2,638.06. The price-to-book ratio is 2.48.
On November 20, 2023, CRSP stock had a small increase of $0.10, or 0.25%.
Looking ahead, CRSP is set to release its next earnings report on February 13, 2024. The forecast for this quarter’s earnings per share (EPS) is -$0.99.
CRSP operates in the Health Technology sector and falls under the Biotechnology industry. The company is headquartered in Zug, Zug.
Overall, CRSP stock had a mixed performance on November 20, 2023, with a small increase in price. However, investors should be cautious due to the company’s recent decline in earnings and revenue. It will be important to monitor future earnings reports and the company’s ability to turn its financials around.
CRISPR Therapeutics AG: Leading Biotech Company with Strong Growth Potential and Investor Support
CRISPR Therapeutics AG (CRSP) is a leading biotechnology company specializing in gene-based medicines. According to data sourced from CNN Money, 23 analysts have provided their 12-month price forecasts for CRISPR Therapeutics AG, with a median target price of $80.00. The consensus among 28 polled investment analysts is to buy stock in the company. CRISPR Therapeutics AG reported a loss of -$0.99 earnings per share for the current quarter but had sales of $101.8 million. The company’s financial performance and potential future growth will be further revealed on February 13. CRISPR Therapeutics AG’s innovative approach to gene editing technology has garnered significant attention and support from investors.
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