Wells Fargo analyst Jim Birchenough reiterated an Outperform rating and $65 price target on Crispr Therapeutics (CRSP) after the company announced an expanded alliance with Vertex (VRTX) to develop gene editing medicines to treat Duchenne muscular dystrophy and myotonic dystrophy type 1. In a research note to investors, Birchenough says he views the expanded collaboration as validating Crispr's CRISPR/CAS9 gene editing platform, providing a meaningful non-dilutive source of capital and future longer-term funding and with significant upside potential in DMD and DM1.