Crispr Therapeutics price target lowered to $94 from $112 at Chardan

Chardan lowered the firm’s price target on Crispr Therapeutics to $94 from $112 and keeps a Buy rating on the shares after the company reported quarterly results. The firm continues to expect the company’s cash position to support over two years of runway even under conservative Casgevy launch projections and sees Crispr’s strong cash position as advantageous in conditions of market uncertainty. Chardan updated its model to reflect Q2 results and incorporate a slower Casgevy ramp driving the price target update.