Editas Medicine price target lowered to $8 from $12 at Truist

Truist analyst Joon Lee lowered the firm’s price target on Editas Medicine (EDIT) to $8 from $12 and keeps a Buy rating on the shares. The company will share updated reni-cel data at ASH, along with updates on in vivo program, in Q1, though the drug may need more than clinical differentiation to succeed commercially, the analyst tells investors in a research note. Truist adds that Editas should catch up in valuation to its peers thanks to its senior party position in the ongoing U.S. patent litigation, which could continue to favor the company in the U.S.