Market Overview

Jefferies Upgrades Editas Medicine To Buy, Positive On Partnerships & Progress On LCA 10 IND Testing


Jefferies upgraded Editas Medicine Inc (NASDAQ: EDIT) to Buy from Hold on partnerships and progress on LCA 10 IND testing.

Editas is an early stage drug development company with a focus on CRISPR/Cas9 technology, a newly emerged transformative gene-editing tool.

Editas announced collaboration with Adverum Biotechnologies Inc (NASDAQ: ADVM) on AAV vectors in eye indications, which along with other partnerships further enhances the tech capability.

Moreover, the company remains on track to file LCA10 IND in 2017 for Leber Congenital Amaurosis 10, a rare genetic eye disease. Initial Phase 1 data is expected in 2018 or later, an event that could potentially establish the clinical POC for CRISPR/Cas9 as a transformative technology.

"While our PT remains unchanged, recent pullback due to lockup expiry and general weakness in the SMID cap biotech sector provides an oppt to participate in the transformative CRIPSR technology," Gena Wang wrote in a note.

On the financial front, Editas ended the second quarter with $217.7 million cash. The company reported revenues of $3.4 million versus Jefferies/consensus estimates of $3.7 million/$2.5 million.

Shares of Editas closed Tuesday at $23.28.

Latest Ratings for EDIT

Jun 2020SunTrust Robinson HumphreyInitiates Coverage OnBuy
May 2020Morgan StanleyMaintainsEqual-Weight
Feb 2020Raymond JamesMaintainsOutperform

View More Analyst Ratings for EDIT
View the Latest Analyst Ratings


Related Articles (EDIT)

View Comments and Join the Discussion!

Posted-In: Gena Wang JefferiesAnalyst Color News Upgrades Price Target Analyst Ratings

Latest Ratings

ELFDA DavidsonMaintains24.0
NVDAB of A SecuritiesMaintains460.0
CBB of A SecuritiesMaintains114.0
BHCB of A SecuritiesMaintains14.0
AEEB of A SecuritiesMaintains79.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at