Oppenheimer analyst Leah R. Cann maintained a Hold rating on Editas Medicine Inc (NASDAQ: EDIT) today. The company’s shares opened today at $28.96.
Cann wrote:
“The preclinical data presented today for EDIT-101 are supportive in the LCA10 setting with regard to both safety and efficacy. the positive RAC decision in August, are supportive of the anticipated phase I clinical trial. In addition, new preclinical data in the RNP cell therapy setting, suggesting that Cpf1 (Cas12a) has role T cell-based medicines development, was very encouraging.”
According to TipRanks.com, Cann is a 4-star analyst with an average return of 11.7% and a 47.8% success rate. Cann covers the Healthcare sector, focusing on stocks such as Constellation Pharmaceuticals Inc, Miragen Therapeutics Inc, and CytomX Therapeutics Inc.
Currently, the analyst consensus on Editas Medicine Inc is a Moderate Buy with an average price target of $43.67, a 50.8% upside from current levels. In a report issued on October 9, Guggenheim also initiated coverage with a Hold rating on the stock.
.
See today’s analyst top recommended stocks >>
Based on Editas Medicine Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $38.72 million. In comparison, last year the company had a GAAP net loss of $26.6 million.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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).
