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Evercore ISI has upgraded CRISPR Therapeutics (NASDAQ:CRSP) to Outperform, citing multiple upcoming catalysts that could drive the stock higher.
The firm is now factoring in CTX320 and CTX310 in vivo programs into its price target, assigning a 10% probability of success for CTX320 and 5% for CTX310. Data for CTX320 is expected in Q2, while CTX310 results are also anticipated later this year.
Additional key catalysts include:
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Mid-year updates on CTX112 for B-cell malignancies and systemic lupus erythematosus (SLE).
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Q4 Phase 1 update on CTX131 for solid tumors and hematological malignancies.
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Second-half Phase 1 data for CTX221 in type 1 diabetes.
Evercore also highlighted anticipated strong growth in cell collections for Casgevy, CRISPR's gene-editing therapy co-marketed with Vertex Pharmaceuticals (NASDAQ:VRTX).
Reflecting these potential tailwinds, Evercore raised its price target on CRSP to $99 from $60.
This article first appeared on GuruFocus.