Goldman Downgrades Crispr Therapeutics To Neutral On Lack Of 2019 Catalysts

Goldman Sachs analyst Salveen Richter downgraded Crispr Therapeutics to Neutral and cut his price target for the shares to $40 from $78. The stock closed Friday up 91c to $33.20.

The analyst, while acknowledging Crispr "is a pioneer in the field of CRISPR/Cas9 gene editing," moves to the sidelines with the respect to the stock as he sees a lack of catalysts until the end of 2019. Further, he believes Bluebird Bio's (BLUE) gene therapy LentiGlobin has set a "high clinical hurdle and first-mover advantage" in transfusion-dependent beta-thalassemia and sickle cell disease.

In addition, the allogeneic or "off-the-shelf" CAR T cancer field is getting "increasingly crowded with evolving timelines," Richter tells investors in a research note. 

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