CRISPR Therapeutics (CRSP) PT Lowered to $101 at Stifel
- S&P 500 climbs to record closing high; IBM weighs on the Dow
- Intel (INTC) Stock Sinks 7% as Q3 Revenue Misses, Guidance Disappoints and CFO Exits
- Snap (SNAP) Stock Just Crashed 25% Following Earnings
- Trump Media To Go Public Via $1.7 Billion SPAC Deal, Aims to Fight the Big Tech
- Tesla (TSLA) Beats EPS and Revenue Views on Improving Gross Margins, Analysts Praise Very Solid Quarter But Warn of 'Aggressive Valuation' as Stock 'Priced to Perfection'
Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.
Stifel analyst Benjamin J. Burnett lowered the price target on CRISPR Therapeutics (NASDAQ: CRSP) to $101.00 (from $139.00) while maintaining a Hold rating.
The analyst commented, "We are reiterating our Hold rating on CRSP following additional CTX110 (CD19 allo-CAR-T) data which was below expectations and leads us to be more skeptical of the company's b2m-knockout strategy, and their oncology pipeline more broadly. Heading into the update, we were skeptical that the b2m-knockout strategy would be sufficient to avoid acute rejection by the patient's immune system, and despite what looks like great expansion, we think CTX110 suffers from poor persistence. Management is now focused on a 2-dose strategy (i.e. consolidation dosing), and we now expect the stock debate to center around the likelihood that this will improve durability. Theoretically it seems possible, though the little multi-dose data that we have doesn't give us enough confidence to build a thesis around this. Rather, we now view all assets that utilize the b2m-knockout as riskier; lowering our POS, along with other model adjustments, decreases our target price to $101/share."
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Crocs (CROX) PT Raised to $157 at Stifel
- Skandinaviska Enskilda Banken AB (SEBA:SS) (SKVKY) PT Raised to SEK120 at Berenberg
- Yara International ASA (YAR:NO) (YARIY) PT Raised to NOK495 at Berenberg
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!