Please ensure Javascript is enabled for purposes of website accessibility

Is CRISPR Stock Heading to $160 in 2021?

By Eric Volkman - Updated Mar 4, 2021 at 3:18PM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

One analyst thinks the company's foundational gene-editing tools have far more potential than many realize.

CRISPR Therapeutics (CRSP 0.74%) is a stock with nearly 40% upside, according to a new analysis. Prognosticator Silvan Turkcan of JMP Group's JMP Securities has initiated coverage of the company with a market outperform (buy) recommendation at a $160 per share price target.

Gene editing, which is the core of CRISPR's business, is still a nascent industry with a great deal of potential. Turkcan described CRISPR's offerings as "powerful new bioengineering tools" that have a potentially very long reach. In addition to their obvious use in the medical field, they can also be used to concoct products such as biofuels and industrial materials.

3 strands of DNA.

Image source: Getty Images.

JMP Securities is not the only financial services company getting on board the CRISPR train in recent days. On Monday, Barclays analyst Gena Wang dramatically increased her price target on the stock to $140 per share from the previous $113, while keeping an overweight (again, buy) recommendation. Wang was particularly impressed by the company's progress in several of its clinical programs, as indicated in its fourth-quarter earnings release published last month.

Other companies remain optimistic about CRISPR's prospects. In the wake of those earnings, Oppenheimer raised its price target by 13% to $187 per share; almost needless to say, it has the equivalent of a buy recommendation on the stock. Goldman Sachs actually lowered its price target slightly (to $189 from $193) and maintained its neutral rating, but the bank's latest level is now 63% above the current share price. 

Despite this recent positive momentum, CRISPR wasn't a hit in midafternoon trading on Thursday. Its shares were down by 2.6%, compared to only a 1.1% decline for the S&P 500 index.

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

CRISPR Therapeutics Stock Quote
CRISPR Therapeutics
$54.76 (0.74%) $0.40
The Goldman Sachs Group, Inc. Stock Quote
The Goldman Sachs Group, Inc.
$306.73 (-1.99%) $-6.24
Barclays PLC Stock Quote
Barclays PLC
$7.73 (-2.89%) $0.23
JMP Group LLC Stock Quote
Oppenheimer Holdings Inc. Stock Quote
Oppenheimer Holdings Inc.
$32.89 (-2.55%) $0.86

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning service.

Stock Advisor Returns
S&P 500 Returns

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 05/18/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.