Crispr Therapeutics price target lowered to $50 from $52 at Clear Street

Clear Street lowered the firm’s price target on Crispr Therapeutics (CRSP) to $50 from $52 and keeps a Hold rating on the shares. Crispr is trading even after reporting Q3 results, which showed a smaller loss than anticipated on lower R&D spend than expected, the analyst tells investors in a research note. The firm noted that Casgevy continued its slow initial launch, resulting in $57M in associated collaboration expense for the quarter, adding that it awaits either a clearer inflection point for Casgevy or for high-potential pipeline assets to show clinical data that increase confidence in their likelihood of success.