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SGMO

Sangamo

$10.57

-1.43 (-11.92%)

, CRSP

Crispr Therapeutics

$30.80

-1.81 (-5.55%)

11:17
02/07/19
02/07
11:17
02/07/19
11:17

Sangamo, CRISPR stocks slide after report of data from early stage trial

Shares of Sangamo Therapeutics (SGMO) are plunging after the company presented interim data from the Phase 1/2 EMPOWERS Study evaluating the SB-318 zinc finger nuclease in vivo genome editing product candidate in patients with MPS II, also known as Hunter syndrome. Concurrent with the press release regarding the data, STAT's Adam Feuerstein quoted Sandy Macrae, Sangamo's CEO, as having said: "First and foremost, we must think about the patients we're treating, which is why it's fair to conclude that the results we're showing from our low and middle doses are not good enough." Following the presentation of the data, shares of Sangamo are down $3.24, or 27%, to $8.78. Crispr Therapeutics (CRSP), Editas Medicine (EDIT) and Intellia Therapeutics (NTLA), which are all publicly-traded companies investigating using CRISPR technology for disease treatments, are also sliding. Crispr shares are down 7%, Editas shares are down 6% and Intellia shares are down 4% following the release of Sangamo's data.

SGMO

Sangamo

$10.57

-1.43 (-11.92%)

CRSP

Crispr Therapeutics

$30.80

-1.81 (-5.55%)

EDIT

Editas Medicine

$20.15

-0.97 (-4.59%)

NTLA

Intellia Therapeutics

$13.47

-0.41 (-2.95%)

  • 07

    Feb

SGMO Sangamo
$10.57

-1.43 (-11.92%)

11/14/18
JPMS
11/14/18
DOWNGRADE
Target $11
JPMS
Neutral
JPMorgan downgrades Sangamo to Neutral on 'growing skepticism'
JPMorgan analyst Eric Joseph downgraded Sangamo Therapeutics (SGMO) to Neutral from Overweight and lowered his price target for the shares to $11 from $35. Following the company's Q3 results, the analyst has "growing skepticism" about its lead development programs and "their potential for value creation over the foreseeable future." Visibility into the initial efficacy of the SB-525 / Hemophilia A program "continues to elude, now with indefinite timelines," Joseph tells investors in a research note. With relatively slower recruitment to date, the analyst struggles to see how SB-525 closes ground with the two later-stage competitor FVIII gene therapy programs from BioMarin (BMRN) and Spark Therapeutics (ONCE).
11/14/18
JPMS
11/14/18
DOWNGRADE
Target $11
JPMS
Neutral
Sangamo downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Eric Joseph downgraded Sangamo Therapeutics to Neutral and lowered his price target for the shares to $11 from $35. The analyst sees a lack of catalysts following last week's Q3 results.
11/09/18
11/09/18
DOWNGRADE

Neutral
Sangamo downgraded to Neutral after Hemophilia A 'about-face' at Guggenheim
As previously reported, Guggenheim analyst Whitney Ijem downgraded Sangamo to Neutral from Buy after the company reported Q3 earnings and announced that it will not present initial SB-525 in hemophilia A data at ASH in December. The company's "about-face" on the SB-525 data disclosure is concerning and makes Ijem question the timelines around additional updates, she tells investors. While she understand the company's desire to wait for a "complete clinical picture" before announcing data, she worries that it might be a moving target for hemophilia A and potentially other programs, Ijem added. She withdrew her prior $18 price target on Sangamo as she awaits more clarity on what can be expected from the company in 2019.
11/09/18
GUGG
11/09/18
DOWNGRADE
GUGG
Neutral
Sangamo downgraded to Neutral from Buy at Guggenheim
CRSP Crispr Therapeutics
$30.80

-1.81 (-5.55%)

01/22/19
SBSH
01/22/19
DOWNGRADE
Target $21
SBSH
Sell
Citi downgrades Crispr Therapeutics to Sell with $21 price target
Citi analyst Yigal Nochomovitz downgraded Crispr Therapeutics to Sell from Neutral and cut his price target for the shares to $21 from $28. Crispr's near-term valuation driver and lead program in related blood disorders "substantially lags" more advanced competitors, Nochomovitz tells investors in a research note. The analyst believes the company's CTX-001 is "at best equivalent" to more advanced competitors and "could have some important liabilities."
01/22/19
01/22/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Gap (GPS) downgraded to Sell from Neutral at Goldman Sachs while Tiffany (TIF) was downgraded to Neutral from Buy. 2. U.S. Steel (X) downgraded to Hold from Buy at Jefferies with analyst Seth Rosenfeld saying "poor" Q4 earnings and Q1 guides will begin to reflect the extent of recent steel margin weakness. 3. Fortinet (FTNT) downgraded to Market Perform from Outperform at BMO Capital with analyst Keith Bachman saying he is not bearish on the stock, expecting the firewall market to remain healthy for several years given the changing throughput requirements, but sees the rating change as reflective of its more balanced risk-reward. 4. Crispr Therapeutics (CRSP) downgraded to Sell from Neutral at Citi with analyst Yigal Nochomovitz saying Crispr's near-term valuation driver and lead program in related blood disorders "substantially lags" more advanced competitors. 5. AMC Entertainment (AMC) downgraded to Neutral from Buy at B. Riley FBR with analyst Eric Wold saying the ramp of the company's subscription service Stubs A-List clouds its EBITDA visibility. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/28/19
GSCO
01/28/19
DOWNGRADE
Target $40
GSCO
Neutral
Crispr Therapeutics downgraded to Neutral from Buy at Goldman Sachs
Goldman Sachs analyst Salveen Richter downgraded Crispr Therapeutics to Neutral and cut his price target for the shares to $40 from $78.
01/28/19
GSCO
01/28/19
DOWNGRADE
Target $40
GSCO
Neutral
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.
EDIT Editas Medicine
$20.15

-0.97 (-4.59%)

09/21/18
RAJA
09/21/18
INITIATION
Target $40
RAJA
Outperform
Editas Medicine initiated with an Outperform at Raymond James
Raymond James analyst Steven Seedhouse initiated Editas Medicine with an Outperform and $40 price target saying data comps for lead indication LCA10 are the easiest, and is the best lead indication of the three CRISPR pure plays.
09/20/18
RAJA
09/20/18
INITIATION
RAJA
Outperform
Editas Medicine initiated with an Outperform at Raymond James
07/18/18
JEFF
07/18/18
NO CHANGE
Target $40
JEFF
Buy
Study in Nature Biotech has limited readthrough to Intellia, says Jefferies
A new Nature Biotech publication highlights important safety points, but due to the methods/model systems used, the paper has limited readthrough to Intellia Therapeutics (NTLA), Editas Medicine (EDIT) and Crispr Therapeutics (CRSP) programs advancing to the clinic, Jefferies analyst Maury Raycroft tells investors in a research note. The analyst believes the experiments used in the paper were not representative and may not have direct implications to current gene-editing clinical-directed strategies. The paper is another example of using a non-optimal model system with too many variables, Raycroft contends. He keeps a Buy rating on Intellia with a $40 price target.
10/09/18
GUGG
10/09/18
INITIATION
GUGG
Neutral
Editas Medicine initiated with a Neutral at Guggenheim
Guggenheim analyst Whitney Ijem initiated Editas Medicine with a Neutral rating, calling the company's potential "mostly theoretical at this point as the company has yet to identify programs where these assets can be uniquely deployed."
NTLA Intellia Therapeutics
$13.47

-0.41 (-2.95%)

11/02/18
WEDB
11/02/18
DOWNGRADE
Target $20
WEDB
Neutral
Intellia Therapeutics downgraded to Neutral from Outperform at Wedbush
Wedbush analyst David Nierengarten downgraded Intellia Therapeutics to Neutral from Outperform and lowered his price target to $20 from $36 as development delays push out initiation of the company's first clinical trial likely another six months to sometime in 2020. In a research note to investors, the analyst says he overall continues to see broad utility and value for the company's IP and CRISPR/Cas9 gene editing and lipid nanoparticle delivery capabilities, and is "encouraged" by recent LNP delivery enhancements and LNP-AAV hybrid activity in preclinical models; however, with a lack of meaningful catalysts over the next 12 months, Nierengarten suggests moving to the sidelines in the near term until there is more clarity around and approach the company's first IND filing.
11/27/18
LEER
11/27/18
INITIATION
Target $23
LEER
Outperform
Intellia Therapeutics initiated with an Outperform at Leerink
Leerink analyst Mani Foroohar initiated Intellia Therapeutics with an Outperform rating and a price target of $23.
11/27/18
LEER
11/27/18
INITIATION
LEER
Leerink initiates select Genetic Medicine names on increasing regulatory clarity
Leerink analyst Mani Foroohar initiated select Genetic Medicine stocks, stating that the field is "is rich with companies developing drugs" to treat rare diseases and that he is increasingly more bullish on "innovation velocity and increasing regulatory clarity in the sector. Based on his "balanced view of pricing dynamics", the analyst issues an Outperform rating on Wave Life Sciences (WVE), Rocket Pharmaceuticals (RCKT), Intellia Therapeutics (NTLA), Eidos Therapeutics (EIDX), Dicerna (DRNA) and Bluebird Bio (BLUE). The analyst likes Wave Life Sciences as a pure play on Oligotherapeutics and its stereopure chemistry platform as a differentiated approach to oligo drug design. Foroohar is positive on Rocket Pharma's lead assets in gene therapies for Fanconi Anemia and Leukocyte Adhesion Deficiency-I "which will likely be the company's first potential approved product." The analyst is positive on Intellia Therapeutics' "robust balance sheet to support development, trading at a material discount to closest comps peers". For Eidos, the analyst cites the prospects of its drug candidate for TTR amyloidosis currently in a placebo-controlled Phase 2 study that may offer a competitive profile relative to Pfizer's (PFE) tafamidis. For Dicerna, Foroohar notes that its DCR-PHXC "is an RNAi therapeutic that targets lactate dehydrogenase A for the treatment of all subtypes of Primary Hyperoxaluria vs. competitor Alnylam's (ALNY) lumasiran, which only treats PH Type 1. For Bluebird Bio, the analyst is positive on its position as a "leader in ex vivo gene therapy, with four programs with visibility towards near-term regulatory approval". Foroohar initiates Avrobio (AVRO), Alnylam (ALNY), and Ionis Pharmaceuticals (IONS) with Market Perform rating based on competitive launches for their products along with "mixed" early signs of their results. The analyst also rates Regenxbio (RGNX) at underperform, saying that its "current valuation more than accounts for robust royalty streams from sales in spinal muscular atrophy" and other partnered assets.
11/02/18
WEDB
11/02/18
DOWNGRADE
WEDB
Neutral
Intellia Therapeutics downgraded to Neutral from Outperform at Wedbush

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