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UPDATE: Credit Suisse Starts Homology Medicines (FIXX) at Neutral

April 28, 2022 5:33 AM EDT
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Price: $1.43 --0%

Rating Summary:
    8 Buy, 5 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 4 | Down: 9 | New: 9
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(Updated - April 28, 2022 8:08 AM EDT)

Credit Suisse analyst Richard Law initiates coverage on Homology Medicines (NASDAQ: FIXX) with a Neutral rating and a price target of $2.70.

The analyst comments "A Differentiated Niche Gene Editing Platform for Autosomal Recessive Diseases: We are initiating coverage of FIXX with a Neutral rating and $2.70 target price. FIXX uses a nuclease-free gene editing platform that has high accuracy but low efficiency. As a result, it is ideal for treating small autosomal recessive diseases but not disorders that require high editing efficiency such as autosomal dominant diseases, cancers, and viral diseases. FIXX’s lead assets include HMI-102 (gene therapy) and HMI-103 (gene editing) for phenylketonuria (PKU). HMI-102 has been partially derisked in the Ph. 1 dose-escalation study, where two of four patients in high-dose cohorts have shown significant phenylalanine (Phe) reductions to the guideline recommendation of <360 μmol/L. Despite positive data so far, we need a better understanding of its durability, variability, safety, and response rate. HMI-103 has no clinical data yet and remains mostly unproven. The stock price has fallen by >65% y/y; we believe the current level more appropriately reflects the limitation in FIXX’s editing platform and the clinical and commercial hurdles in PKU."

For an analyst ratings summary and ratings history on Homology Medicines click here. For more ratings news on Homology Medicines click here.

Shares of Homology Medicines closed at $1.61 yesterday.


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