CRISPR Therapeutics (CRSP) PT Raised to $105 at Oppenheimer
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Oppenheimer analyst Jay Olson raised the price target on CRISPR Therapeutics (NASDAQ: CRSP) to $105.00 (from $89.00) while maintaining a Outperform rating.
The analyst commented, "CRSP reported 2Q results with EPS of ($1.30) and $945M cash plus $485M net proceeds from a July public offering for $1.4B pro forma. A business update highlights: 1) dosing has resumed in ongoing CTX001 Ph1/2 trials for hemoglobinopathies (SCD & ß-Thalassemia), and CRSP expects new data in 2020; 2) CTX110 enrollment remain s ongoing and CRSP expects topline data from the open-label study by YE20; 3) CTX120 study in r/r-MM continues dosing and could have data in 1H21; 4) CTX130 clinical studies in solid and hematological tumors initiated with data expected in 2021; and 5) CRSP entered a research collaboration with UHN expanding the company's regenerative medicine portfolio. We update our model with a 75% PoS estimate for CTX001 driving our new $105 PT."
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