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CRISPR Therapeutics AG (CRSP)

適正価値
HealthcareBiotechnologySwitzerland

ファンダメンタル

27

株価

$55.84

時価総額

$5.39B

パート1 · 企業の価値

概要

CRISPR Therapeutics develops medicines based on gene editing — cutting and correcting DNA directly inside cells rather than treating symptoms with a conventional drug. Its lead product, Casgevy, a one-time treatment for sickle cell disease and beta thalassemia, is approved and sold by its partner Vertex Pharmaceuticals. Beyond Casgevy, the company runs its own pipeline of experimental gene-edited cell therapies and in-vivo editing programmes aimed at cardiovascular, metabolic, autoimmune, oncology and other rare diseases.

収益の仕組み

CRISPR Therapeutics earns most of its money not from selling a product itself, but from its share of Casgevy's profits and losses under a 60/40 arrangement with Vertex, which manufactures, markets and books the product's own commercial revenue. The company also collects upfront and milestone payments from research collaborations. Its own pipeline programmes are pre-revenue and consume cash through clinical trials, so overall revenue is small, uneven, and depends on Vertex's commercial execution rather than on sales the company controls directly.

主なリスク

  • Early-stage gene editing technology and clinical trial risk — The company states that CRISPR/Cas9 gene editing is a relatively new technology with a limited history of clinical trials, making it hard to predict how long or how much it will cost to develop new product candidates, or whether past trial results will be repeated in future studies.
  • Regulatory caution toward gene therapy — The company states that regulators including the FDA and EMA have shown caution toward gene therapy, and that ethical and legal concerns could lead to additional restrictions on developing or commercializing its product candidates.
  • Dependence on Vertex for Casgevy — Vertex leads global development, manufacturing and commercialization of Casgevy and books its revenue directly, sharing program costs and profits 60/40 with CRISPR Therapeutics, which does not control the pace or quality of the product's commercial rollout.
  • Intellectual property uncertainty — The company states it faces uncertainty over intellectual property protection for its gene editing technology, including third-party patent rights relevant to CRISPR/Cas9 that have been the subject of ongoing interference proceedings.

顧客集中度

The company does not report a numeric customer split, but structurally almost all near-term revenue depends on a single partner, Vertex, which leads Casgevy's global development, manufacturing and commercialization.

強気材料

Buyers argue that Casgevy's approval validates CRISPR Therapeutics' gene editing platform commercially, that its cash position of nearly $2 billion funds a broad pipeline of in-vivo and cell-therapy programmes without near-term financing risk, and that success in any one of several disease areas could open a large new market.

弱気材料

Sellers worry that Casgevy revenue is small and controlled by Vertex rather than by CRISPR Therapeutics itself, that gene editing remains a young technology regulators treat cautiously, and that the pipeline behind Casgevy is still pre-revenue and could consume cash for years before any of it reaches the market, if it ever does.

Written by the editors, published on 2026年8月18日

Direct competitors

Who this company fights with for the same customers

Generated on 2026年9月18日 with claude-haiku-4-5 — shared with all users

Intellia Therapeutics, Inc.NTLA

The closest peer on CRISPR/Cas9 medicine: both companies are building in vivo, lipid-nanoparticle-delivered gene-editing therapies for rare and cardiovascular diseases, competing for the same patients, trial sites and pharma partnerships.

Beam Therapeutics Inc.BEAM

Beam's base-editing therapy for sickle cell disease targets exactly the patient population CRISPR Therapeutics addresses with Casgevy, and both also pursue liver-directed in vivo editing.

Editas Medicine, Inc.EDIT

Editas develops gene-editing therapies that raise fetal haemoglobin in blood stem cells — the same biological mechanism and the same sickle cell and beta-thalassaemia market Casgevy serves.

Genetix Biotherapeutics (formerly bluebird bio, Inc.)Not tracked

Its approved therapy Lyfgenia is the only other one-time genetic medicine for sickle cell disease on the US market, so it competes with Casgevy patient by patient at the same treatment centres.

Caribou Biosciences, Inc.CRBU

Caribou builds gene-edited, off-the-shelf allogeneic CAR-T cell therapies for blood cancers and autoimmune disease — the same field as CRISPR Therapeutics' allogeneic CAR-T programmes.

Prime Medicine, Inc.PRME

Prime Medicine's prime-editing platform chases the same genetic diseases with a rival editing technology, competing for the same future patients and for partner and investor capital.

貸借対照表と流動性

売上高

$13M

直近12か月(2026/6/30まで)

純利益

$-451M

直近12か月(2026/6/30まで)

フリーキャッシュフロー

$-346M

自己資本合計

$1.92B

負債合計

$343M

流動比率

17.85

利払い倍率

-

負債/EBITDA

-

一株当たり利益(EPS)

売上高と純利益

フリーキャッシュフロー

収益内訳

財務推移表

利益率の推移

負債の推移

負債の重さ

成長率グリッド

成長率 — 売上高

適正価値の推定

プレレベニュー適正価値

適正価値

$65.80

現在株価

$55.84

安全マージン

+15.1%

適正価値レンジ

$42.77 - $88.83

使用した評価手法間のばらつきであり、統計的に較正された信頼区間ではありません。

推定方法

アナリストの目標株価:$87.56
ディスカウンテッド・キャッシュフロー(DCF):この種の企業には適用されません
利益倍率(P/E):この種の企業には適用されません
グレアムの成長公式:この種の企業には適用されません
収益力価値(EPV):この種の企業には適用されません
正当化されたP/B:この種の企業には適用されません
配当割引モデル(ゴードン):この種の企業には適用されません
P/FFO(運用から生まれる資金):この種の企業には適用されません
中間サイクル利益:この種の企業には適用されません
売上高倍率:$0.55
アナリスト・コンセンサス:買い (17B / 11H / 0S)
直近の決算サプライズ:+23.04%

バリュエーション指標

P/E レシオ

-

ROE

-30.3%

P/B レシオ

3.06

P/FCF

-

粗利益率

-

ROIC

-16.8%

収益性レーダー

価値創造(経済的モート)

ROIC

-16.8%

WACC

13.2%

ROIC − WACC

-30.0 pp

ROICが資本コストを下回っています。投資した1ドルごとに企業は価値を破壊しています。

ファンダメンタル分析基準

合格(7)

  • Price CAGR 10.66%
  • Debt/Equity ratio
  • Current Ratio
  • Low reliance on intangibles
  • Revenue Growth 5Y 38.0%
  • Analyst Consensus 61% Buy
  • Earnings Surprise avg 3.3%

不合格(11)

  • EPS shows upward trend
  • ROIC -16.8%
  • P/B Ratio 3.06
  • Operating Margin -3990.0%
  • Positive Free Cash Flow
  • Return on Tangible Assets
  • DCF valuation (Overvalued)
  • ROE -24.4%
  • Share Dilution 6.5%
  • Net Margin Trend -3368.7% vs -1229.4%
  • Piotroski F-Score 1/9

データなし(9)

  • Gross Margin NaN%
  • P/FCF NaN
  • Dividend Payout NaN%
  • CapEx intensity
  • Interest Coverage
  • Debt/EBITDA
  • Price below Graham Number
  • PEG Ratio (need PE > 0 and growth > 0)
  • Earnings Quality (OCF/Net Income)

Piotroski F-スコア

1/9

重大な財務上の懸念

score
criteria

利益の質

-

低品質:会計処理を調査してください

株式希薄化

6.5%

新株を発行しており、所有権を希薄化している

機関投資家の保有

この企業について機関投資家の報告はありません。

ガバナンス

経営陣

氏名役職年齢
Dr. Samarth Kulkarni Ph.D.CEO & Chairman47
Dr. Raju Yashaswi Prasad Ph.D.Chief Financial Officer41
Mr. James R. Kasinger J.D.General Counsel & Secretary53
Dr. Naimish Patel C.M., M.D.Chief Medical Officer53
Mr. Shaun Foy CFACo-Founder-
Dr. Emmanuelle Marie Charpentier Ph.D.Co-Founder & Scientific Advisory Board Member-
Dr. Craig C. Mello Ph.D.Scientific Founder & Advisory Board Member-
Dr. Chad A. Cowan Ph.D.Scientific Founder53
Dr. Matthew Porteus M.D., Ph.D.Scientific Founder & Advisory Board Member60
Dr. Daniel G. Anderson Ph.D.Scientific Founder & Advisory Board Member55

監査リスク

8

取締役会リスク

8

報酬リスク

10

株主権利リスク

2

パート2 · 株価と買い時

この部分は企業に価値があるかを判断するものではありません。ファンダメンタルズに納得したうえで、いつ買うかを選ぶためのものです。内容:テクニカル分析、ポテンシャル、過去のドローダウン、ガンマエクスポージャー。

書類

  • 年次報告書(10-K)

    事業内容、財務実績、リスクをまとめた年次の概要。

    提出日: 2026-02-12

    書類を見る
  • 四半期報告書(10-Q)

    直近3か月間の業績に関する最新情報。

    提出日: 2026-08-03

    書類を見る
  • 臨時報告書(8-K)

    経営陣の交代や重要な発表など、大きな出来事に関するお知らせ。

    提出日: 2026-08-03

    書類を見る

via SEC EDGAR

業績推移

via SEC EDGAR

Latest News

Recent headlines for CRSP, sourced from Markets Gazette.

  • 3/10/2026NEGATIVE
    This Is Why CRISPR Therapeutics Stock Is Tumbling on Tuesday

    CRISPR Therapeutics AG experienced a significant stock price decline on Tuesday, as current shareholders faced an unexpected development. While the specific catalyst is not detailed in the provided snippet, the market reaction suggests a negative event has occurred, potentially related to clinical trial results, regulatory hurdles, or competitive pressures. Investors are advised to monitor further announcements for clarity on the situation impacting the biotechnology firm's valuation.

  • 3/2/2026NEUTRAL
    Is CRISPR Therapeutics Stock Too Risky to Buy Right Now?

    CRISPR Therapeutics (CRSP) finds itself at a pivotal juncture, presenting a complex picture for investors. While the biotechnology firm currently struggles with profitability, a common challenge for companies in its developmental stage, it has achieved a significant milestone: the approval of a gene therapy treatment. This approval unlocks substantial future potential, positioning CRISPR as a key player in innovative medical solutions. However, the immediate lack of earnings raises questions about short-term financial stability versus long-term growth prospects. Investors must weigh the inherent risks of an unprofitable enterprise against the promising outlook of its groundbreaking therapeutic advancements.

via Markets Gazette