Cowen & Co. Thinks Homology Medicines Inc’s Stock is Going to Recover


In a report released yesterday, Phil Nadeau from Cowen & Co. maintained a Buy rating on Homology Medicines Inc (FIXX). The company’s shares closed yesterday at $15.79, close to its 52-week low of $15.07.

According to TipRanks.com, Nadeau is a 4-star analyst with an average return of 3.9% and a 46.4% success rate. Nadeau covers the Healthcare sector, focusing on stocks such as BioMarin Pharmaceutical Inc., Phasebio Pharmaceuticals Inc, and Rhythm Pharmaceuticals Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Homology Medicines Inc with a $36.50 average price target, which is a 131.2% upside from current levels. In a report issued on July 26, H.C. Wainwright also maintained a Buy rating on the stock with a $36 price target.

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Based on Homology Medicines Inc’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $23.85 million. In comparison, last year the company had a GAAP net loss of $12.89 million.

Based on the recent corporate insider activity of 22 insiders, corporate insider sentiment is negative on the stock.

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Homology Medicines, Inc. operates as a technology platform to design and develop treatments to address rare diseases at the genetic level. It develops genetic medicines by translating proprietary, next generation gene editing and gene therapy technologies into novel treatments for patients with rare diseases.

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