OMGA - CRISPR Xencor stock falls as Piper Sandler slashes price target in biotech space

Piper Sandler cut its price target (PT) on 17 companies in the biotech space reflecting the recent pullback in the stock and prevailing market conditions. Piper Sandler also noted that biotech valuations have re-rated. Following are the stocks which saw their PT lowered: Gene editing company CRISPR Therapeutics (NASDAQ:CRSP) saw its PT cut to $115 from $180 but the analyst maintained an Overweight rating on the shares. Xencor (XNCR) PT was cut to $42 from $66 but the firm kept its Overweight rating on the company's shares. Bicycle Therapeutics (BCYC) PT cut by Piper to $37 from $76 and the firm maintained an Overweight rating on the stock. Kymera Therapeutics (KYMR) PT lowered to $43 from $91 but the firm kept an Overweight rating on the Watertown, Mass.-based biotech's shares. Aeglea BioTherapeutics (AGLE) PT slashed to $4 from $7, while the shares had an Overweight rating. New Haven, Conn.-based Arvinas (ARVN) stock

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CRISPR, Xencor stock falls as Piper Sandler slashes price target in biotech space