UPDATE: Goldman Sachs Starts Editas Medicine (EDIT) at Sell, Cautious on Lead Drugs
Goldman Sachs analyst Madhu Kumar initiates coverage on Editas Medicine (NASDAQ: EDIT) with a Sell rating and a price target of $20.00.
The analyst comments "Our 12-month price target of $20 implies 52% downside potential. We remain cautious on the CRISPR gene editing (GE) firm’s lead drugs, EDIT-101 for IVS26 Leber’s congenital amaurosis type 10 (LCA10) and EDIT-301 for sickle cell disease (SCD) and β-thalassemia (β-Thal). We think the risk-reward dynamic is skewed negatively into 2021 EDIT-101 data and YE21 EDIT-301 dosing commencement."
Shares of Editas Medicine closed at $40.98 yesterday.
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