We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
CRISPR (CRSP) to Report Q3 Earnings: What's in the Cards?
Read MoreHide Full Article
We expect investors to focus on updates related to CRISPR Therapeutics AG’s (CRSP - Free Report) pipeline candidates when it reports third-quarter 2023 results.
Factors to Note
Without an approved/marketed product in its portfolio, the focus is expected to be on updates related to CRSP's pipeline candidates.
The company’s top line comprises grants and collaboration revenues from its partnership with large-cap biotech Vertex Pharmaceuticals (VRTX - Free Report) .
CRISPR Therapeutics’ lead pipeline candidate is exa-cel (formerly CTX001). This investigational ex vivo CRISPR gene-edited therapy is being evaluated in late-stage studies for treating transfusion-dependent beta thalassemia (“TDT”) and sickle cell disease (“SCD”). The therapy is being developed in collaboration with Vertex Pharmaceuticals.
CRISPR and Vertex completed the biologics license application (“BLA”) submissions with the FDA, for exa-cel, in SCD and TDT indications. A final decision is expected by Dec 8, 2023, and Mar 30, 2024, respectively.
An FDA advisory committee meeting is scheduled on Oct 31 to give its recommendation on the exa-cel BLA. Though these recommendations are not binding on the agency, they are considered before arriving at a final decision. An update on this meeting is expected at the Q3 earnings conference call.
Besides exa-cel, CRISPR is also developing two next-generation CAR-T cell therapy candidates, namely CTX110 and CTX130, targeting hematological and solid tumor cancers. Earlier this year, CRISPR started separate phase I/II studies on new CAR-T candidates, CTX112 (targeting CD19-positive B-cell malignancies) and CTX131 (targeting relapsed or refractory solid tumors).
Updates regarding the progress of the above development programs are anticipated in the upcoming earnings release. Activities related to developing CRSP’s pipeline candidates are also likely to have escalated operating expenses in the to-be-reported quarter.
Earnings Surprise History
CRSP’s earnings surpassed expectations in each of the trailing four quarters, witnessing an average earnings surprise of 39.19%. In the last reported quarter, CRISPR Therapeutics’ earnings beat estimates by 55.05%.
Shares of CRISPR Therapeutics have declined 3.6% in the year compared with the industry’s plunge of 21.6%.
Image Source: Zacks Investment Research
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for CRISPR Therapeutics this time around. The combination ofa positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. Unfortunately, that is not the case here, as you will see below. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Earnings ESP: CRISPR Therapeutics has an Earnings ESP of -14.84% as the Most Accurate Estimate pegged at a loss of $2.27 per share is wider than the Zacks Consensus Estimate of a loss of $1.98.
Here are a few stocks worth considering from the overall healthcarespace, as our model shows that these have the right combination of elements to beat on earnings this reporting cycle.
Biogen (BIIB - Free Report) has an Earnings ESP of +2.27% and a Zacks Rank #3.
Biogen’s stock has declined 10.9% year to date. Biogen beat earnings estimates in all the last four quarters, delivering an earnings surprise of 10.53%, on average. Biogen is scheduled to release its third-quarter results on Nov 8, before market open.
GSK plc (GSK - Free Report) has an Earnings ESP of +5.07% and a Zacks Rank #3.
GSK’s stock has gained 2.6% year to date. GSK beat earnings estimates in all the last four quarters, witnessing an average earnings surprise of 12.40%. GSK is scheduled to release its Q3 results on Nov 1.
Image: Bigstock
CRISPR (CRSP) to Report Q3 Earnings: What's in the Cards?
We expect investors to focus on updates related to CRISPR Therapeutics AG’s (CRSP - Free Report) pipeline candidates when it reports third-quarter 2023 results.
Factors to Note
Without an approved/marketed product in its portfolio, the focus is expected to be on updates related to CRSP's pipeline candidates.
The company’s top line comprises grants and collaboration revenues from its partnership with large-cap biotech Vertex Pharmaceuticals (VRTX - Free Report) .
CRISPR Therapeutics’ lead pipeline candidate is exa-cel (formerly CTX001). This investigational ex vivo CRISPR gene-edited therapy is being evaluated in late-stage studies for treating transfusion-dependent beta thalassemia (“TDT”) and sickle cell disease (“SCD”). The therapy is being developed in collaboration with Vertex Pharmaceuticals.
CRISPR and Vertex completed the biologics license application (“BLA”) submissions with the FDA, for exa-cel, in SCD and TDT indications. A final decision is expected by Dec 8, 2023, and Mar 30, 2024, respectively.
An FDA advisory committee meeting is scheduled on Oct 31 to give its recommendation on the exa-cel BLA. Though these recommendations are not binding on the agency, they are considered before arriving at a final decision. An update on this meeting is expected at the Q3 earnings conference call.
Besides exa-cel, CRISPR is also developing two next-generation CAR-T cell therapy candidates, namely CTX110 and CTX130, targeting hematological and solid tumor cancers. Earlier this year, CRISPR started separate phase I/II studies on new CAR-T candidates, CTX112 (targeting CD19-positive B-cell malignancies) and CTX131 (targeting relapsed or refractory solid tumors).
Updates regarding the progress of the above development programs are anticipated in the upcoming earnings release. Activities related to developing CRSP’s pipeline candidates are also likely to have escalated operating expenses in the to-be-reported quarter.
Earnings Surprise History
CRSP’s earnings surpassed expectations in each of the trailing four quarters, witnessing an average earnings surprise of 39.19%. In the last reported quarter, CRISPR Therapeutics’ earnings beat estimates by 55.05%.
CRISPR Therapeutics AG Price and EPS Surprise
CRISPR Therapeutics AG price-eps-surprise | CRISPR Therapeutics AG Quote
Shares of CRISPR Therapeutics have declined 3.6% in the year compared with the industry’s plunge of 21.6%.
Image Source: Zacks Investment Research
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for CRISPR Therapeutics this time around. The combination ofa positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. Unfortunately, that is not the case here, as you will see below. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Earnings ESP: CRISPR Therapeutics has an Earnings ESP of -14.84% as the Most Accurate Estimate pegged at a loss of $2.27 per share is wider than the Zacks Consensus Estimate of a loss of $1.98.
Zacks Rank: CRISPR Therapeutics currently carriesa Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Stocks to Consider
Here are a few stocks worth considering from the overall healthcarespace, as our model shows that these have the right combination of elements to beat on earnings this reporting cycle.
Biogen (BIIB - Free Report) has an Earnings ESP of +2.27% and a Zacks Rank #3.
Biogen’s stock has declined 10.9% year to date. Biogen beat earnings estimates in all the last four quarters, delivering an earnings surprise of 10.53%, on average. Biogen is scheduled to release its third-quarter results on Nov 8, before market open.
GSK plc (GSK - Free Report) has an Earnings ESP of +5.07% and a Zacks Rank #3.
GSK’s stock has gained 2.6% year to date. GSK beat earnings estimates in all the last four quarters, witnessing an average earnings surprise of 12.40%. GSK is scheduled to release its Q3 results on Nov 1.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.