Editas Medicine price target lowered to $12 from $20 at Chardan

Chardan analyst Geulah Livshits lowered the firm’s price target on Editas Medicine (EDIT) to $12 from $20 and keeps a Buy rating on the shares. The company presented proof-of-concept preclinical in vivo hematopoietic stem and progenitor data in humanized mice and outlined its go-forward strategy centering on in vivo LNP-delivered gene upregulation therapies and finding a partner for reni-cel commercialization in sickle cell and beta thalassemia, the analyst tells investors in a research note. Citing greater uncertainty regarding the reni-cel partnering, the firm reduced its probability of sucess from 80% to 40%.