Wells Fargo cuts CRISPR Therapeutics stock price target on earnings
Wells Fargo reduced CRISPR Therapeutics' (CRSP) price target to $70 from $75, citing Q3 2026 results. The company reported a net loss of $1.15 per share, missing estimates. CRISPR's stock has fallen 7.6% in a week, trading at $49.99. Revenue from CASGEVY grew 30% sequentially to $99 million. The company holds $2.3 billion in cash and has strong liquidity. Wells Fargo also revised its EPS estimates for 2026 and 2027. Other analysts maintain positive ratings and targets for CRISPR.
How this was made
The 30-second read
Why it matters
The downgrade signals short‑term downside risk but highlights long‑term upside potential from pipeline milestones.
Market read
Analyst price‑target cut following earnings miss is likely to trigger immediate sell pressure.
What to watch
Upcoming Phase 1/2 data could catalyze a rebound if results exceed expectations.
Background
CRISPR Therapeutics reported Q3 2026 results with a net loss per share of $1.15 and cash of $2.3 bn. Analyst Wells Fargo adjusted its DCF model and lowered the price target.
Ticker impact
Wells Fargo cut CRISPR Therapeutics' price target to $70 after Q3 earnings showed a larger-than-expected loss.
likely downward pressure as the market prices in the target cut
The price target reduction is a fresh analyst action tied to the earnings miss, which typically moves the stock immediately.
Market effects
May weigh on other gene‑editing and biotech stocks as analysts reassess earnings expectations.
Limited to US‑listed biotech investors.
Modest; primarily affects CRISPR Therapeutics and peers.
Counterpoint
Some investors may view the target cut as an overreaction given the strong cash position and pipeline progress.
Key entities
- AnalystWells Fargo
Equity research firm that lowered the price target.
- CompanyCRISPR Therapeutics
Biotech firm developing gene‑editing therapies.
