| 2019-11-19 14:06:50|
CRSP 14:06 11/19 11/19/19
William Blair upgrades Crispr Therapeutics to Outperform after 'impressive' data
William Blair analyst Raju Prasad upgraded Crispr Therapeutics to Outperform from Market Perform after the company presented initial results from the ongoing Phase I/II trials of CTX001 for the treatment of beta thalassemia and sickle cell disease. The stock in afternoon trading is up 18%, or $10.29, to $68.82. The analyst says today's data cut was "impressive" as it exceeds the 30% fetal hemoglobin threshold that he viewed as critical. To date, Crispr has shown initial proof-of-concept in beta thalassemia and sickle cell that exceeded expectations and de-risks its wholly owned immuno-oncology platform, Prasad tells investors in a research note. Further, given the "optionality" of the CRISPR-Cas9 platform and potential cost-effectiveness when compared with lentiviral-based therapies, Crispr could be a potential takeout candidate, adds the analyst.