Crispr Therapeutics downgraded to Hold from Buy at Clear Street

Clear Street analyst Bill Maughan downgraded Crispr Therapeutics (CRSP) to Hold from Buy with a $45 price target The firm cites valuation for the downgrade after the stock traded up to within a few dollars of the target. The analyst continues to believe the launch of Casgevy “will be difficult, as the ex vivo gene editing approach is commercially challenged.” Crispr’s pipeline has not yet advanced enough to overcome a “sluggish” Casgevy launch, the analyst tells investors in a research note.