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Editas Medicine (EDIT) Gets a Hold Rating from RBC Capital

RBC Capital analyst Luca Issi maintained a Hold rating on Editas Medicine (EDITResearch Report) on May 4 and set a price target of $40.00. The company’s shares closed last Thursday at $14.56, close to its 52-week low of $12.90.

According to TipRanks.com, Issi is ranked 0 out of 5 stars with an average return of -29.2% and a 16.1% success rate. Issi covers the Healthcare sector, focusing on stocks such as Adverum Biotechnologies, BioMarin Pharmaceutical, and Crispr Therapeutics AG.

Currently, the analyst consensus on Editas Medicine is a Hold with an average price target of $23.27, a 53.5% upside from current levels. In a report issued on May 4, Barclays also maintained a Hold rating on the stock with a $16.00 price target.

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Based on Editas Medicine’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $12.47 million and GAAP net loss of $41.44 million. In comparison, last year the company earned revenue of $11.42 million and had a GAAP net loss of $62.5 million.

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Editas Medicine, Inc. engages in the development and commercialization of genome editing technology. Its technology includes clustered, regularly interspaced short palindromic repeats (CRISPR), and CRISPR associated protein 9 (Cas9). The company was founded by Feng Zhang, Jennifer A. Doudna, George McDonald Church, J. Keith Joung and David R. Liu in September 2013 and is headquartered in Cambridge, MA.

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