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Investing.com - H.C. Wainwright has reiterated its buy rating and $65.00 price target on CRISPR Therapeutics (NASDAQ:CRSP), which currently trades at $46.70, following the company’s incremental update to its Phase 1 CTX310 trial data. According to InvestingPro data, analyst targets for the $4.4 billion biotech company range from $32 to $268, reflecting the stock’s significant volatility.
The updated results show that CTX310, an in vivo ANGPTL3 knockout treatment, continues to demonstrate peak reductions of up to 82% in triglycerides and up to 86% in LDL cholesterol at dose level four. These reductions were achieved without clinically significant changes in liver enzymes, maintaining a safety profile consistent with previous findings. InvestingPro analysis shows the company maintains strong financial flexibility with a healthy current ratio of 15.64, indicating robust ability to fund ongoing research.
The initial CTX310 data reported in early May included 10 patients across four dose levels: 0.1+0.3mg/kg (six patients), 0.6mg/kg (three patients), and 0.8mg/kg (one patient). The trial included patients with heterozygous familial hypercholesterolemia (HeFH), mixed dyslipidemia (MDL), and severe hypertriglyceridemia (sHTG).
Results showed a clear dose response at Day 30, with triglycerides lowered by 10.6% at the two low-dose levels, 55.7% at the mid-dose level, and 81.9% at the high-dose level. LDL cholesterol increased by 34.8% at the two low-dose levels but decreased by 28.5% at the mid-dose level and by 64.6% at the high-dose level.
H.C. Wainwright noted that analysis remains limited due to disease variability, the presence of only one patient at the highest dose level, and baseline lipid control measures. The firm expressed interest in seeing future updates with efficacy data broken out by disease, more data from the highest dose level, response levels over time, and narrower error values. InvestingPro subscribers can access 10+ additional ProTips and comprehensive analysis through the Pro Research Report, which provides deeper insights into CRISPR’s financial health score of 2.42 (FAIR) and market positioning.
In other recent news, CRISPR Therapeutics has garnered attention with multiple analyst updates and data releases. The company has maintained its Buy rating from Brookline Capital Markets, which reiterated a $268.00 price target following promising data from the CTX310 Phase I trial. This trial showed significant reductions in triglycerides and LDL levels, reinforcing the potential of CRISPR’s platform in treating cardiovascular diseases. Additionally, Goldman Sachs maintained its Neutral rating with a $47.00 price target, noting favorable safety data from the CTX310 study.
Clear Street downgraded CRISPR Therapeutics to Hold from Buy, citing valuation concerns as the stock approached its $45 price target. The firm highlighted potential challenges for the commercial launch of Casgevy due to limitations in the ex vivo gene editing approach. Citizens JMP reiterated a Market Outperform rating with an $86.00 price target, emphasizing the growing interest in in-vivo gene editing. Chardan Capital Markets also maintained a buy rating, pointing to Eli Lilly (NYSE:LLY)’s acquisition of Verve Therapeutics as a positive signal for the gene editing field. CRISPR Therapeutics continues to progress with its cardiovascular programs, including CTX320 and CTX340, with data from these expected in the coming years.
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