Crispr Earnings: Global Casgevy Rollout Underway; Positive Outlook for Risk-Tolerant Investors

Crispr Therapeutics continues to make progress across its diverse pipeline. Additionally, Crispr and its partner, narrow-moat Vertex Pharmaceuticals, are rolling out commercialization efforts globally for their gene therapy, Casgevy, for the treatment of both sickle cell disease and transfusion-dependent beta thalassemia. We revisited our estimates for Casgevy and lower our fair value estimate to $106 per share from $119 due to a slow sales ramp, which requires a lengthy process that can take nearly a year to administer this highly complex gene therapy. Nevertheless, we think Casgevy could hold strong pricing power and become a blockbuster drug during our 10-year forecast period. We view the stock as very undervalued, currently trading in 5-star territory.