Crispr Therapeutics price target lowered to $30 from $45 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Crispr Therapeutics (CRSP) to $30 from $45 and keeps an Underweight rating on the shares. The firm pushed out the launch of CTX-112 to 2027 given trial progress and lower peak penetration to 15% from 20%. Two out of the six patients relapsed within six months since the first infusion, which could call into question the durability of this therapy, the analyst tells investors in a research note. Morgan Stanley adds that the launch of Casgevy, the first gene-editing therapy ever approved, has been slow for sickle cell disease and transfusion-dependent beta thalassemia.