Oppenheimer Keeps a Hold Rating on Editas Medicine Inc (EDIT)

Oppenheimer analyst Leah R. Cann maintained a Hold rating on Editas Medicine Inc (EDIT) today. The company’s shares closed yesterday at $31.79.

Cann commented:

“Editas Medicines’ differentiated approach for potentially treating sickle cell disease and beta-thalassemia is currently preclinical. Data presented at 2018 ASH demonstrated in vivo an increased production of fetal hemoglobin, which can be beneficial to patients with sickle cell disease or beta-thalassemia. HBG1/2 site is a differentiated approach for development of a human therapeutic for the treatment of sickle cell disease and beta-thalassemia as compared to other medicines currently under development that edit at the BCL11Ae site. These results could lead to further development in this setting.”

According to TipRanks.com, Cann is a 4-star analyst with an average return of 6.9% and a 46.9% success rate. Cann covers the Healthcare sector, focusing on stocks such as Constellation Pharmaceuticals Inc, Miragen Therapeutics Inc, and CytomX Therapeutics Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Editas Medicine Inc with a $43.67 average price target.

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Based on Editas Medicine Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $15.24 million. In comparison, last year the company had a GAAP net loss of $26.6 million.

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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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