The ultimate growth stocks you can buy for $1,000 now

A great way to drive portfolio growth is to engage with companies early in their growth stories. And the current bill applies to: CRISPR Therapeutics (CRSP -2.05%). The biotech company recently won approval for its first product. This shows the strength of the company’s gene-editing technology and could bring in billions of dollars in revenue.

You don’t need a lot of money to invest in CRISPR Therapeutics, which trades at about $60 per share. But with $1,000, you can get a guaranteed number of shares that will help you win big in the future as the company moves forward along the path of revenue growth and additional product approvals. It may be possible. Let’s take a closer look at this ultimate growth stock to buy now.

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CRISPR Therapeutics’ first product

CRISPR Therapeutics is gaining momentum as it heads into its first year as a commercial-stage company. Late last year, the biotech won approval in the U.S. for Kasgevy, a treatment for sickle cell disease. The U.S. Food and Drug Administration is expected to rule on Casgevy for an additional blood disorder, beta thalassemia, in March.

And just weeks before the U.S. decision, Dr. Casgeby secured the world’s first approval for a CRISPR gene editing treatment when the United Kingdom agreed to CRISPR gene editing treatments for both blood diseases. Gene editing involves correcting defective genes that cause disease. The company’s method involves cutting DNA at specific locations and allowing natural repair processes to occur.

Goldman Sachs estimates Casgebee’s annual sales could reach up to $3.9 billion at its peak.

This sounds exciting, and it is, but it’s important to keep a few things in mind.First, CRISPR Therapeutics will share Casgevy profits with leading biotech partners vertex pharmaceuticals — and Vertex gets 60% share. Second, Kasugebi’s sales are unlikely to skyrocket overnight. That’s because treatment is a month-long process, requiring time to sign up patients, complete treatment, and collect revenue. And companies are still grappling with reimbursement agreements with payers, another factor that could slow adoption and, in turn, revenue.

Still, Casgevy’s approval is a big step for the company, even if revenue has been slow to take off and CRISPR Therapeutics’ market share is smaller than its partners. The regulatory nod is a vote of confidence in the technology that CRISPR Therapeutics uses across its pipeline, and subsequent product revenue will help the company advance these pipeline candidates.

Focus on next generation candidates

And speaking of pipeline candidates, CRISPR Therapeutics has recently set aside earlier cancer immunotherapy candidates in favor of next-generation candidates. This is because these new candidates may have improved efficacy and may be easier to manufacture. Clinical trials are underway for both of these next-generation candidates. At the same time, the company has adopted one of these, CTX-112, to expand into autoimmune diseases. The company aims to start a phase 1 trial targeting systemic lupus erythematosus in the first half of this year. This is all positive as it shows that CRISPR Therapeutics is pouring resources into the most promising candidates and pursuing their full potential.

Meanwhile, in the short term, CRISPR Therapeutics may also generate revenue by out-licensing its gene editing technology. Last year, Vertex signed a deal to use the technology in his type 1 diabetes program, and the biotech company paid him $100 million upfront and just a few months later, he received $7,000 in milestone payments. I received $1,000,000.

So CRISPR Therapeutics is now on the cusp of starting to generate its first product revenue. The proceeds should then fund the company’s program pipeline. Two promising immuno-oncology candidates are already in clinical trials, meaning they have passed some early-stage safety and efficacy hurdles.

At the same time, CRISPR Therapeutics’ stock is currently trading much lower than it was a few years ago, when prospects for the company’s future were much less clear. From today’s levels, the stock clearly has the potential to move higher, especially if there is positive news regarding the Kazgeby sale and potential good news from pipeline programs. All of this makes CRISPR Therapeutics the ultimate growth stock to invest in now.