Market Overview

Barclays: Editas Medicine On Track To File New Drug App Next Year

Share:
Barclays: Editas Medicine On Track To File New Drug App Next Year
Related EDIT
The Daily Biotech Pulse: FDA Nod For Bristol-Myers Squibb, Momenta Strikes Patent License Deal With AbbVie
The Week Ahead In Biotech: Earnings, Conferences, PDUFA Dates, Clinical Trial Results And IPOs

Editas Medicine Inc (NASDAQ: EDIT) reported third-quarter earnings Tuesday and it failed to meet Wall Street expectations.

The Analyst

Barclays' Gena Wang.

The Rating

Wang maintained an Overweight on Editas Medicine, with a price target of $28. (See Wang's track record here.)

The Thesis

The Q3 updates are largely incremental, Wang said, adding that she anticipates new candidates for investigational new drug applications, or INDs. 

EDIT-101 remains on track for an IND filing in mid-2018, and CRISPR-mediated ex vivo gene editing in hemoglobinopathies is becoming a potential candidate for Editas Medicine's next IND, Wang said. Editas Medicine believes that the blood and bone marrow disorders, along with ocular diseases, are the most likely candidates for the next IND, according to Barclays.

Crispr Therapeutics AG (NASDAQ: CRSP) and Sangamo Therapeutics Inc (NASDAQ: SGMO) recently announced IND clearance of their sickle cell disease program, while bluebird bio Inc's (NASDAQ: BLUE) LentiGlobin showed promising results in beta thalassemia and in SCD.

The Price Action

Editas Medicine fell 12.05 percent in the morning session Wednesday, but it rebounded and it is currently trading around 4.5 percent lower. This is the third consecutive trading session in negative territory for the drugmaker. 

Latest Ratings for EDIT

DateFirmActionFromTo
Sep 2018Raymond JamesInitiates Coverage OnOutperform
Mar 2018Morgan StanleyMaintainsEqual-WeightEqual-Weight
Mar 2018BarclaysMaintainsOverweightOverweight

View More Analyst Ratings for EDIT
View the Latest Analyst Ratings

Posted-In: Analyst Color Earnings News Health Care Price Target Reiteration Analyst Ratings General Best of Benzinga

 

Related Articles (BLUE + CRSP)

View Comments and Join the Discussion!

Exclusive: Adidas President Mark King Discusses Being At The Intersection Of Performance And Fashion

Square Falls Following Q3 Earnings