JonesTrading analyst Soumit Roy has maintained their neutral stance on EDIT stock, giving a Hold rating today.
Claim 70% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Soumit Roy has given his Hold rating due to a combination of factors surrounding Editas Medicine’s recent developments. The company has shown promising preclinical results with their EDIT-401 program, which targets LDL-C reduction in cardiovascular disease. However, the data is still in early stages, and the company is not expected to submit an IND/CTA until mid-2026, with initial clinical data anticipated by the end of 2026.
While the preclinical results are encouraging, with significant LDL-C reduction and no concerning adverse events, the absence of human data and the timeline for further development contribute to the cautious Hold rating. Additionally, the financial aspects, such as the estimated cash burn and current cash reserves, suggest that while the company is progressing, there are still uncertainties that warrant a wait-and-see approach.
In another report released today, Barclays also maintained a Hold rating on the stock with a $3.00 price target.