Editas Medicine (EDIT) Efficacy Raises The Bigger Question - Stifel

Stifel analyst Dae Gon Ha weighed in on Editas Medicine (NASDAQ: EDIT) with shares under significant pressure (-20%) as investors digest the early Ph.1/2 BRILLIANCE data for EDIT-101 in Leber's congenital amaurosis type 10 (LCA10).

Ha said what they initially perceived as an incremental update has turned out to be a bigger catalyst as investors read into 1) safety implications of EDIT's first program, 2) efficacy signal, and 3) broader implications on the ocular disease pipeline for the company.

"Given the limited data, we are hesitant to draw major conclusions from today's update on the future of EDIT-101 or extrapolations to the broader pipeline; however, mixed efficacy signals by month 3 does raise questions on potential benefits expected from longer-term follow-up and/or higher doses and patient baseline (i.e. adults vs pediatric).," the analyst commented. "Further, an under-the-radar guidance update on EDIT-301 (sickle cell disease [SCD]) may be compounding the downside move."

The reiterated a Hold rating and $65.00 price target on EDIT.

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 $52.45 yesterday.

You May Also Be Interested In

• Fiserv (FISV) PT Lowered to $60 at Freedom Broker
• UBS Reiterates Buy Rating on HF Sinclair (DINO)
• Piper Sandler Reiterates Overweight Rating on Estee Lauder (EL), 'F4Q26 Preview'