William Blair analyst Raju Prasad maintained a Buy rating on Logicbio Therapeutics Inc (LOGC) today. The company’s shares opened today at $9.77.
Prasad observed:
“We continue to view the IND submission for LB-001, the company’s lead candidate, for the treatment of methylmalonic academia (MMA) at the end of 2019, and initiation of a Phase I/II in 2020 as the next major events for the company (for additional details, see our note: Meetings With Management Reinforce Our Confidence in GeneRide Platform; LB-001 IND Filing by Y ear-End Remains Key Catalyst).”
According to TipRanks.com, Prasad is a 5-star analyst with an average return of 25.0% and a 63.6% success rate. Prasad covers the Healthcare sector, focusing on stocks such as Rocket Pharmaceuticals Inc, Global Blood Therapeutics, and Allogene Therapeutics Inc.
The the analyst consensus on Logicbio Therapeutics Inc is currently a Moderate Buy rating.
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Based on Logicbio Therapeutics Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $4.67 million. In comparison, last year the company had a GAAP net loss of $1.04 million.
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LogicBio Therapeutics, Inc. is a genome editing company, which engages in developing medicines to treat rare diseases in patients with significant unmet medical need. It focuses on the commercialization of specific genome editing and integration of the therapeutic transgene.
