Editas Medicine price target lowered to $11 from $17 at Stifel

Stifel analyst Dae Gon Ha lowered the firm’s price target on Editas Medicine (EDIT) to $11 from $17 and keeps a Buy rating on the shares. Though the primary investor debate circles around whether the company’s new strategy is a step forward or backward, the firm thinks reni-cel for sickle cell disease and transfusion-dependent thalassemia is a de-risked asset that could be monetized, and one that also offers key learnings that are leverageable as management contemplates go-forward strategies for their in vivo candidate, the analyst tells investors.