Why CRISPR Therapeutics (CRSP) Shares Are Trading Higher Today - CRISPR Therapeutics (NASDAQ:CRSP)

Cantor Fitzgerald initiated coverage on CRISPR Therapeutics AG CRSP with an Overweight rating and a price target of $72, citing an interesting gene editing play for 2023.
The company has an excellent chance of commercializing the first-ever CRISPR gene therapy later this year (a functional cure for sickle cell disease and beta-thalassemia.
The analyst says that its lead program exagamglogene autotemcel (exa-cel), is undervalued, and de-risking regulatory updates throughout the year should drive up the probability of success for a 2023 approval.
The analyst also notes CRISPR's extensive pipeline isn't getting any credit on valuation right now.
Most of its pipeline is still early in development, but several clinical catalysts/readouts should happen between now and year-end, many of which could move the stock.
CRISPR has committed to seven catalysts for 2023, including data from its next-gen CART program, Type 1 diabetes program and in vivo programs, a potential exa-cel approval & launch, and regulatory updates from the existing CAR-T agents.
The analyst sees a lot of momentum to come back into this stock, starting with the ongoing exa-cel regulatory review.
Price Action: CRSP shares are up 15.50% at $50.22 on the last check Thursday.