Stock market today: S&P 500 drops for fifth day as focus shifts to Powell’s speech
Investing.com - Clear Street downgraded CRISPR Therapeutics (NASDAQ:CRSP) from Buy to Hold on Thursday, citing valuation concerns after the stock approached the firm’s $45 price target. The stock, which has gained over 21% year-to-date and currently trades near $47, shows technical signs of being overbought according to InvestingPro analysis.
The research firm maintained its fundamental outlook on the gene-editing company, noting that the commercial launch of Casgevy will likely face challenges due to limitations of the ex vivo gene editing approach. With a market capitalization of $4.37 billion and analyst targets ranging from $32 to $268, the stock’s outlook remains mixed.
Clear Street indicated that while CRISPR’s early pipeline holds significant potential, it remains at too early a stage to provide substantial upside beyond current trading levels or overcome Casgevy’s commercial challenges.
Thursday’s announcement of additional data from CTX310, which targets ANGPTL3, aligned with previously disclosed results, according to the research firm. The delay in CTX320 data, which targets Lp(a), was described as largely procedural.
Clear Street noted that the dose-finding for CTX320 continues, with data now expected after Novartis (SIX:NOVN)’ HORIZON study reports in the first half of 2026, which will be "critical for understanding the implications of the CTX320 data, exploring the potential link between Lp(a) reductions and clinical outcomes."
In other recent news, CRISPR Therapeutics has reported notable developments in its cardiovascular disease programs. The company released new data from its Phase 1 trial of CTX310, showing significant reductions in triglycerides and LDL cholesterol levels. This data prompted Brookline Capital Markets to maintain its Buy rating, highlighting the potential of CRISPR’s platform. Meanwhile, Goldman Sachs kept a Neutral rating, noting favorable safety data but a strategic delay in the CTX320 program, with initial data now expected in the first half of 2026. Barclays (LON:BARC) also maintained its Equalweight rating, emphasizing consistent safety results and the company’s ongoing progress in its CTX340 program targeting refractory hypertension. William Blair reiterated an Outperform rating, citing competitive LDL-C reduction results and potential business development opportunities in CRISPR’s cardiovascular programs. Chardan Capital Markets expressed confidence in CRISPR’s growing presence in the cardiovascular space, referencing Eli Lilly (NYSE:LLY)’s acquisition of Verve Therapeutics as a positive industry signal. These recent developments underscore CRISPR Therapeutics’ continued advancements in gene editing treatments for cardiovascular diseases.
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