Key insights
- BofA Securities lowered its price target on CRISPR Therapeutics to $83 from $86, maintaining a Buy rating, citing adjustments to their cash per share model and Casgevy valuation. Piper Sandler raised its price target to $110 from $105, maintaining an Overweight rating, following the company’s issuance of $600 million in convertible notes. Overall, analyst opinions remain positive, but price target adjustments suggest a nuanced outlook.
Investing.com - BofA Securities lowered its price target on CRISPR Therapeutics stock (NASDAQ:CRSP) to $83 from $86 while maintaining a Buy rating.
The firm said it made few changes to its core thesis following the company’s first-quarter 2026 results. Casgevy continues to ramp commercially and the balance sheet remains strong following the March convertible issuance, BofA said. The company’s financial position is robust, with an InvestingPro Tip highlighting that CRISPR holds more cash than debt on its balance sheet, reflected in a current ratio of 13.32 and a debt-to-equity ratio of just 0.11.
The second half of 2026 remains the key period for broader pipeline validation with several early stage readouts expected, the firm noted.
BofA updated its cash per share model following the convertible notes issuance, which alters per-share contributions. The firm also adjusted its Casgevy build given current patient numbers and trends, now valuing it at $25 per share from $28 per share.
The analyst reiterated the Buy rating on the gene-editing company. According to InvestingPro data, CRISPR appears undervalued based on Fair Value analysis. For deeper insights, investors can access CRISPR’s comprehensive Pro Research Report, available for this and 1,400+ US equities.
In other recent news, CRISPR Therapeutics announced the pricing of $550 million in convertible senior notes due 2031, which was an increase from the initially planned $350 million. The company has provided an option for initial purchasers to acquire up to an additional $50 million in notes, with the sale expected to close in March 2026. Piper Sandler has responded to this development by raising its price target for CRISPR Therapeutics to $110 from $105, maintaining an Overweight rating. This adjustment follows the company’s issuance of $600 million in convertible notes, which are convertible at $76.56 per share with a 1.73% effective coupon rate. Piper Sandler estimates that CRISPR Therapeutics now holds pro forma cash of $2.56 billion. The company’s stock saw a decline after announcing the initial $350 million convertible notes offering, which was part of a private placement to qualified institutional buyers. These recent developments reflect significant financial maneuvers by CRISPR Therapeutics, aimed at bolstering its financial position.
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