Gene editing stocks, like CRISPR Therapeutics (CRSP), are on the. move.
In fact, CRSP is up about 15% on the day on a volume spike to 2.6 million shares, as compared to daily average volume of 1.04 million. All after analysts at Cantor Fitzgerald initiated coverage with an outperform rating, with a $72 price target. The firm also expects CRSP to get a nod for its gene-editing therapy, exa-cel.
“The company has a very good chance of commercializing the first-ever CRISPR gene therapy later this year (a functional cure for sickle cell disease and beta-thalassemia),” they added. They also estimated a 90% probability of success for the approval and set its risk-adjected 2023 peak sales for the treatment at more than $1.6B compared to $1.3B in the consensus.
The news is also lifting shares of other gene-editing stocks, including Intellia Therapeutics (up 13.5%), and Beam Therapeutics (up 10%).
