Crispr Therapeutics price target lowered to $70 from $100 at JMP Securities

JMP Securities analyst Silvan Tuerkcan lowered the firm’s price target on Crispr Therapeutics to $70 from $100 but keeps an Outperform rating on the shares as part of a broader research note on select Biotechnology names updating his valuation models. SMID-cap companies, particularly with less cash runway, are finally urgently focusing their pipelines and operations on key assets, but while this is a positive longer-term, workforce reductions are "unfortunately accelerating", the analyst tells investors in a research note. Tuerkcan adds however that he is positive on Crispr as it continues to execute and has several first-mover advantages in the cell therapy space to establish potential leadership in SCD/TDT.