Oppenheimer Reaffirms Outlook on CRISPR Therapeutics (CRSP) After Encouraging Q3 Earnings Performance

CRISPR Therapeutics AG (NASDAQ:CRSP) ranks among the most oversold biotech stocks to invest in. Following the company’s third-quarter financial results, Oppenheimer reaffirmed its Outperform rating and $95 price target for CRISPR Therapeutics AG (NASDAQ:CRSP) on November 11. CRISPR Therapeutics AG (NASDAQ:CRSP) reported a lower-than-anticipated loss of $1.17 per share against the expected $1.26 per share, largely due to reduced R&D spending of $59 million compared to the expected $88 million.

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Casgevy, the company’s gene treatment, continued its slow launch, costing $57 million in collaboration expenses for the quarter, with partner Vertex reporting an increase in momentum for its debut.

Oppenheimer emphasized the advancements in CRISPR’s in vivo initiatives, highlighting the comprehensive findings from the Phase 1 study of CTX310 that were presented at the American Heart Association (AHA) meeting and subsequently published in the New England Journal of Medicine.

Oppenheimer also noted CRISPR’s SyNTase editing technology, which appears in the CTX460 data, has considerable potential and enhances the company’s existing strategies and in vivo initiatives.

CRISPR Therapeutics AG (NASDAQ:CRSP) is a leader in gene-editing technology that uses its proprietary gene sequencing platform to develop precise treatments for diseases that require DNA modification.

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Disclosure: None. This article is originally published at Insider Monkey.