UPDATE: RBC Capital Starts Editas Medicine (EDIT) at Sector Perform

RBC Capital analyst Luca Issi initiates coverage on Editas Medicine (NASDAQ: EDIT) with a Sector Perform rating and a price target of $40.00.

The analyst comments "EDIT has pioneered the field of gene editing (first ever in vivo approach to enter the clinic) and we are excited about potential differentiation for hemoglobinopathies and the oncology pipeline. However, both programs are early in a crowded space, and the later stage pipeline for inherited retinal diseases has had a tortuous development path (rights recently regained from AGN/ABBV) and tackles relatively small indications where the most intuitive comp (i.e. Luxturna) has had a modest launch. This, combined with new leadership that has yet to fully articulate the corporate vision, keeps us on the sidelines. Initiate at Sector Perform, Speculative Risk."

For an analyst ratings summary and ratings history on Editas Medicine click here. For more ratings news on Editas Medicine click here.

Shares of Editas Medicine closed at $37.01 yesterday.

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