From $49 to $110: Why Piper Sandler Thinks CRSP Can More Than Double From Here

2 hours ago 1

Joel South

Tue, March 17, 2026 astatine 11:16 AM CDT 3 min read

CRISPR Therapeutics (CRSP) holds $2.56B successful pro forma currency aft a $600M convertible enactment issuance, backing pipeline advancement done objective improvement without near-term superior raises. CASGEVY cistron therapy generated $116M successful 2025 gross with diligent initiations astir tripling year-over-year, and a pediatric statement enlargement (ages 5-11) with regulatory submissions expected successful H1 2026 could grow the addressable market. CTX310 demonstrated beardown aboriginal cardiovascular results published successful the New England Journal of Medicine and is advancing to Phase 1b.
Piper Sandler raised its terms people to $110 (implying 120% upside) based connected CRSP’s extended currency runway enabling simultaneous advancement of aggregate pipeline programs and accelerating CASGEVY commercialized traction with upcoming pediatric statement expansion.
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CRISPR Therapeutics (NASDAQ:CRSP) has had a unsmooth agelong lately. Shares person dropped 5% implicit the past week and are down 8% year-to-date, trading astir $49.37 arsenic of Tuesday morning. Piper Sandler, however, conscionable raised its people to $110, implying much than 120% upside from existent levels. But tin CRSP realistically scope $110 by the extremity of 2026?

The catalyst down Piper Sandler's revised people is simply a freshly issued $600M convertible enactment owed March 2031, convertible astatine $76.56 per stock with an effectual coupon of 1.73%. The firm, which maintains an Overweight rating, estimates that CRISPR Therapeutics present holds pro forma currency of $2.56B. That equilibrium expanse extent extends the company's runway to beforehand aggregate pipeline programs done objective improvement without near-term superior raises, a captious de-risking origin for a pre-profitability biotech.

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CASGEVY commercialized momentum: The approved cistron therapy generated $116M successful full-year 2025 revenue, with diligent initiations astir tripling year-over-year and 30 patients receiving infusions successful Q4 alone. A pediatric statement enlargement covering ages 5-11 with regulatory submissions expected successful H1 2026 could meaningfully grow the addressable market.
Cardiovascular pipeline with published data: CTX310 is advancing to Phase 1b aft demonstrating beardown aboriginal results successful information published successful the New England Journal of Medicine. A palmy programme present could reframe the company's semipermanent gross illustration entirely.
Deep currency runway enabling pipeline execution: With $2.56B successful pro forma cash, CRISPR Therapeutics tin beforehand CTX340 (refractory hypertension, proceedings initiation expected H1 2026), CTX460, zugo-cel successful autoimmune diseases, and CTX611 simultaneously without dilutive equity raises.