Crispr Therapeutics price target lowered to $53 from $59 at Stifel

Stifel lowered the firm’s price target on Crispr Therapeutics (CRSP) to $53 from $59 and keeps a Hold rating on the shares following the company’s Q3 update. The firm says the Casgevy patient journey isn’t short, but Stifel is seeing some signs of demand building. Not just that the first patient has been infused, there are now 40 patients who’ve made it through at least 1 cell collection. The firm stays on the sidelines here as it is still learning about the time required to convert patients into revenue, and profitability. Regarding what’s next, CTX112 ASH2024 abstract revealed a 6-month CR rate of 44% in a basket lymphoma study. Stifel looks to the full disclosure to better understand the potential in both oncology and autoimmune disease.