You'll probably have to pay an expensive premium for a slam-dunk growth stock that's almost certain to flourish over the next few years. Valuations reflect expectations, so you usually have to assume uncertainty and risk if you want to buy a stock at a steep discount.

The two stocks below have enormous upside potential, but they also come with downside risks you can't ignore. Let's weigh the potential risk and reward.

CRISPR Therapeutics (NASDAQ: CRSP) is developing innovative gene therapy technologies to treat a variety of serious and rare diseases. Its product pipeline includes treatments for sickle cell disease, beta thalassemia, several cancers, cardiovascular disease, diabetes, and muscular dystrophy.

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Source Fool.com