CRISPR Therapeutics AG

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Bullish +65

CRISPR Therapeutics Traded Sideways and Down for 12 Months: One Wall Street Pro Expects 85% Gains Soon

Drug approval Financial outlook AI-generated analysis

📉 CRSP shares are down 4.94% over the past year while trading 48% below the consensus price target of $87.56.

💰 The company raised $600 million via a convertible note, pushing pro forma cash to roughly $2.56 billion to fund R&D.

📈 Q2 2026 CASGEVY revenue surged 151% year-over-year to $76 million, though full-year 2025 revenue was only $3.51 million.

🔬 Vertex's cost-deferral arrangement lapsed in Q4 2025, causing revenue to collapse 97.5% to $864K and collaboration expenses to spike.

🎯 Piper Sandler analyst Edward Tenthoff raised his price target to $110, implying roughly 86% upside from current levels.

🚀 Tenthoff models 2026 CASGEVY revenue at $300 million with 150 patient starts, far exceeding the Street consensus of $40.83 million.

👶 FDA clearance for children ages 5-11 is pending priority review, opening a fresh cohort for CASGEVY.

🧬 The CTX310 Phase 1b durability data is due at the ESC Congress to evaluate in vivo gene editing efficacy.

📊 EPS revisions have skewed upward with 12 upward revisions versus only 3 down in the trailing 30 days for FY2026.

🏆 CRSP is the only approved gene therapy company in its peer group, generating revenue while competitors trade at steep discounts.

⚠️ Full-year 2025 net loss was $581.6 million as the market awaits a sustained commercial ramp beyond partner-reported figures.

Bullish Signals
  • CRISPR Therapeutics holds the only approved CRISPR-based gene therapy, CASGEVY, which is currently generating revenue in 39 countries.
  • The company recently closed a $600 million convertible note offering, increasing pro forma cash to roughly $2.56 billion to fund R&D without dilution.
  • Q2 2026 CASGEVY revenue surged 151% year-over-year to $76 million, demonstrating strong commercial momentum despite recent stock weakness.
  • Piper Sandler analyst Edward Tenthoff maintains a Street-high price target of $110, implying roughly 86% upside from current levels.
  • Analyst consensus models 2026 CASGEVY revenue at $300 million based on approximately 150 patient starts, significantly higher than the Street estimate.
  • The company has received FDA clearance for children ages 5-11 via priority review vouchers, opening a fresh patient cohort for CASGEVY.
  • EPS revisions have skewed upward with 12 upward revisions versus only 3 down in the trailing 30 days for FY2026.
  • CRSP is the only name in its peer group with an approved commercial product generating revenue, making it the least discounted of the group.
Risk Factors
  • Full-year 2025 revenue was only $3.51 million due to a lapsed cost-deferral arrangement with partner Vertex.
  • The company reported a heavy cash burn with a net loss of $581.6 million in 2025 despite Q2 revenue beats.
  • Q1 2026 revenue missed estimates by 65.73%, causing the market to treat CRSP as a story stock in limbo.
  • The commercial ramp for CASGEVY remains unproven, with markets awaiting sustained growth beyond partner-reported figures.
Full Analysis
CRISPR Therapeutics (CRSP) stock has underperformed over the past year, trading 48% below the average Wall Street price target of $87.56 despite holding the only approved CRISPR-based gene therapy, CASGEVY. The company recently closed a $600 million convertible note offering, boosting its pro forma cash to approximately $2.56 billion, which provides significant runway for R&D without immediate dilution. Commercial performance shows mixed signals with Q2 2026 revenue surging 151% year-over-year to $76 million, yet full-year 2025 revenue was only $3.51 million due to a lapsed cost-deferral arrangement with partner Vertex. Q4 2025 revenue collapsed by 97.5% to $864K, and Q1 2026 missed estimates by 65.73%, leading to heavy cash burn of $581.6 million in 2025. Analyst sentiment is notably bullish, with Piper Sandler analyst Edward Tenthoff maintaining an Overweight rating and a Street-high price target of $110, implying roughly 86% upside. Tenthoff models 2026 CASGEVY revenue around $300 million based on approximately 150 patient starts, significantly higher than the consensus estimate of $40.83 million, driven by potential pediatric expansion and FDA clearance for children ages 5-11. The company's pipeline includes CTX310 Phase 1b durability data due at the ESC Congress and readouts for zugo-cel in autoimmune and B-cell lymphoma indications. While CRSP is the only peer with an approved commercial product generating revenue, it trades at a discount compared to rivals like Intellia Therapeutics and Beam Therapeutics, offering a favorable risk-reward profile if CASGEVY's commercial ramp accelerates.