Why CRISPR Therapeutics (CRSP) Soared on Friday?

We recently published a list of Shares of 10 Firms Soar on Friday. In this article, we are going to take a look at where CRISPR Therapeutics AG (NASDAQ:CRSP) stands against other firms that soared on Friday.

Wall Street finished mixed anew on Friday, as investors continued to weigh fresh developments on tariffs and inflation data.

The Nasdaq was the sole index eking out gains, up 0.41 percent. The Dow Jones decreased by 0.37 percent while the S&P 500 was little changed, dipping 0.01 percent.

In line with Nasdaq’s rally, 10 companies predominantly under the technology sector led the charge. In this article, we detailed the reasons behind their stellar performance.

To come up with this list of biggest advancers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

A laboratory cultivating cells for the development of gene and cell therapies.

CRISPR Therapeutics AG (NASDAQ:CRSP)

CRISPR Therapeutics AG (NASDAQ:CRSP) rose for a fourth day on Friday, ending the day higher by 14.33 percent to finish at $49.72 apiece, as investors cheered its upgraded rating from an investment advisory firm.

On Friday, Evercore ISI upgraded CSP to “outperform” from “in line,” while significantly raising its price target by 65 percent to $99 from $60 previously, on expectations that its clinical trial programs, CTX320 and CTX310, would succeed by 10 percent and 5 percent, respectively, and contribute to the company’s growth.

CTX320 is in an ongoing clinical trial in patients with elevated lipoprotein(a), a cardiovascular risk factor that affects up to 20 percent of the global population. Dose escalation is ongoing, with an update expected in the first half of 2025.

Meanwhile, CTX310 is in an ongoing clinical trial targeting ANGPTL3 in patients with homozygous familial hypercholesterolemia (HoFH), severe hypertriglyceridemia (SHTG), heterozygous familial hypercholesterolemia (HeFH), or mixed dyslipidemias. Dose escalation is ongoing, with an update expected in the first half of 2025.

Overall, CRSP ranks 7th on our list of firms that soared on Friday. While we acknowledge the potential of CRSP as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than CRSP but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap

Disclosure: None. This article is originally published at Insider Monkey.