In a report released yesterday, Mani Foroohar from Leerink Partners maintained a Hold rating on Editas Medicine (EDIT – Research Report), with a price target of $1.00.
Mani Foroohar has given his Hold rating due to a combination of factors related to Editas Medicine’s recent performance and strategic direction. The company is actively working on advancing its in vivo gene editing projects, with plans to declare development candidates for hematopoietic stem cells and liver cells by mid-2025, and to present preclinical data by the end of 2025. Additionally, Editas intends to identify another target cell type or tissue by the end of 2025.
Financially, Editas reported higher than expected research and development expenses for the fourth quarter of 2024, while their selling, general, and administrative expenses were lower than anticipated. The company concluded the quarter with a substantial cash reserve, projected to sustain operations until the second quarter of 2027. These factors, combined with the company’s strategic initiatives and financial position, have led to the maintenance of a Hold rating and a price target of $1.
According to TipRanks, Foroohar is an analyst with an average return of -12.6% and a 37.12% success rate. Foroohar covers the Healthcare sector, focusing on stocks such as Moderna, Alnylam Pharma, and BridgeBio Pharma.
In another report released yesterday, Barclays also maintained a Hold rating on the stock with a $3.00 price target.
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