Abhoy Sarkar's Avatar
published in Blogs
Apr 16, 2021
Editas Medicine (EDIT, $34.90) shares got a sell rating  from Goldman Sachs

Editas Medicine (EDIT, $34.90) shares got a sell rating  from Goldman Sachs

Editas Medicine  shares got a sell rating  from Goldman Sachs as the latter initiated coverage on the stock.

Goldman Sachs analysts set a price target of $20 a share, a Wall Street low, on the biotech shares. According to the analysts, the risk-reward dynamic was skewed negatively for the company.

Goldman analyst Madhu Kumar mentioned in a note that initial results from Editas’ experimental Crispr gene editing product EDIT-11 in a rare eye disease may not lead to adequate productive editing to meaningfully improve patients' vision. Also affecting the rating is competition from ProQR Therapeutics for treatment of Leber's congenital amaurosis. 

On the other hand, Kumar was more optimistic on Apellis Pharmaceuticals   and Dicerna Pharmaceuticals. The analyst has price targets of $130  on Apellis and $48 on Dicerna – both Wall Street highs. Both got buy ratings.

 

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