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Oct. 5, 2020, 12:29 p.m. EDT

Crispr's stock shoots up after bullish call from BofA Securities analyst

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By Tomi Kilgore

Shares of Crispr Therapeutics AG /zigman2/quotes/201181046/composite CRSP +0.67% shot up 7.9% in midday trading Monday, after a bullish call from BofA Securities analyst Geoff Meacham, who suggested a target that was 28% above current levels and 9.3% above the Aug. 19 record close of $100.64. Meacham started coverage of genome-editing technology company with a buy rating and $110 price target, saying he believes the Crispr's technology platform has generated a "de-risked potentially best-in-class curative therapy for transfusion-dependent beta-thalassemia (TDT) and sickle cell disease (SCD), as well as a trio of next-generation autologous CAR-Ts." He said the company's Hemoglobinopathy program will have additional de-risking data in December, "leading to clarity on the path to market," and the CAR-T programs offer "significant upside potential." The stock has run up 41% year to date, while the iShares Nasdaq Biotechnology ETF /zigman2/quotes/206189322/composite IBB +0.97% has climbed 15.5% and the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.08% has gained 5.1%.

/zigman2/quotes/201181046/composite
US : U.S.: Nasdaq
$ 117.25
+0.78 +0.67%
Volume: 886,212
Sept. 21, 2021 4:00p
P/E Ratio
22.95
Dividend Yield
N/A
Market Cap
$8.88 billion
Rev. per Employee
$1,754
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/zigman2/quotes/206189322/composite
US : U.S.: Nasdaq
$ 171.56
+1.65 +0.97%
Volume: 1.01M
Sept. 21, 2021 4:00p
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/zigman2/quotes/210599714/realtime
US : S&P US
4,354.19
-3.54 -0.08%
Volume: 1.91B
Sept. 21, 2021 5:12p
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