Crispr Therapeutics shares tumble after significant earnings miss
Investing.com - Evercore ISI reduced its price target on Jasper Therapeutics (NASDAQ:JSPR) to $20.00 from $50.00 on Monday, while maintaining an Outperform rating on the stock. The company’s shares, currently trading at $3.04, have shown significant volatility with a 22% gain over the past week, according to InvestingPro data.
The firm’s analyst cited expectations that Jasper will enroll 10-12 more chronic spontaneous urticaria (CSU) patients and resolve an existing lot issue as part of their base case scenario.
Evercore ISI believes data will confirm that the 240mg Q8W is a viable dosing regimen and that mild c-Kit-mediated adverse events generally resolve within this dosing window without accumulated toxicity from continued dosing.
The firm expects that data in the fourth quarter of 2025 will allow Jasper Therapeutics to finance with equity to reach the next Phase 2b CSU data, with that trial starting in mid-2026.
Despite the significant 60% reduction in price target, Evercore ISI maintained its Outperform rating on the biotech company’s stock.
In other recent news, Jasper Therapeutics has been in the spotlight due to developments surrounding its clinical trials and financial strategies. The company reported delays in its Phase 1b/2a BEACON study for briquilimab, a treatment for chronic spontaneous urticaria, due to issues with a compromised drug lot. This setback has led to the postponement of its Phase 2b study until mid-2026. In response to these challenges, Jasper has decided to cancel its asthma trial and discontinue its severe combined immunodeficiency program to focus resources on urticaria development.
Cantor Fitzgerald downgraded Jasper Therapeutics from Overweight to Neutral, citing uncertainty around trial execution and development timelines. Similarly, William Blair downgraded the stock to Market Perform due to the same trial complications. On the other hand, TD Cowen maintained a Buy rating, viewing the strategic focus on urticaria as prudent despite the delays. BTIG also maintained a Buy rating but significantly reduced its price target from $64.00 to $20.00.
H.C. Wainwright followed suit by lowering its price target to $20.00 while maintaining a Buy rating, noting the company’s cost-cutting measures and the need for additional capital by the fourth quarter of 2025. These recent developments have put a spotlight on Jasper Therapeutics’ strategic decisions and financial outlook, drawing varied reactions from analysts.
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