Could CRISPR Therapeutics Stock Help You Become a Millionaire?

If you're looking for a stock that has the potential to grow your investment to $1 million, a good move may be to invest in a strong business that's in a fast-growing industry. Gene therapy is an example of just that. The market for gene therapy is worth a relatively modest $8.7 billion this year, according to estimates from Grand View Research. But those analysts also believe that by 2030, it could soar to more than $29.5 billion, if it expands at a compounded annual growth rate of 19.5%.

Gene therapies have significant potential, as they could give people with hard-to-treat diseases new hope. And one company that is becoming a big name in gene therapy these days is CRISPR Therapeutics (NASDAQ: CRSP). This mid-cap stock is worth over $5 billion today but has the potential to be much more valuable in the years and decades ahead. Could investing in this healthcare stock help make you a millionaire?

Earlier this month, the U.S. Food and Drug Administration (FDA) approved Casgevy, a gene therapy treatment that CRISPR has been working on with Vertex Pharmaceuticals. The treatment, which has a list price of $2.2 million, can be a one-time functional cure for people with sickle cell disease. The price is so high because of how valuable it is, and how much time and money it can save the healthcare industry. It gives patients a much more promising solution, without the need for ongoing treatment.

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Source Fool.com