Chardan Capital Remains a Buy on Editas Medicine Inc (EDIT)


In a report released today, Gbola Amusa from Chardan Capital reiterated a Buy rating on Editas Medicine Inc (EDIT), with a price target of $55. The company’s shares closed yesterday at $28.62.

Amusa commented:

“We remind, Editas has exercised its option to co-develop the program, with equal sharing of profits and losses in the US. If all goes smoothly with the IND application, EDIT-101 is positioned to be the first CRISPR-based in vivo gene editing product to be dosed in patients. Per management, the IND application was filed in late October (executing on prior guidance). The filing is now in a “30-day review period with the FDA,” and management has signaled plans to provide an update when the company has further visibility of a path forward. As of now, the planned phase I/II open label dose escalation trial is slated to enroll 10-20 patients with the IVS26 mutation in the CEP290 gene.”

According to TipRanks.com, Amusa is a 5-star analyst with an average return of 19.6% and a 47.2% success rate. Amusa covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Catalyst Biosciences Inc, and Adverum Biotechnologies.

Currently, the analyst consensus on Editas Medicine Inc is a Moderate Buy with an average price target of $40.

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The company has a one-year high of $45.02 and a one-year low of $21.70. Currently, Editas Medicine Inc has an average volume of 675.2K.

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Editas Medicine, Inc. engages in the development and commercialization of genome editing technology. Its technology includes clustered, regularly interspaced short palindromic repeats (CRISPR); and CRISPR associated protein 9 (Cas9).

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