Recent developments

In August, the National Institutes of Health’s (or NIH) recombinant DNA advisory committee completed the NIH protocol for Editas Medicine’s (EDIT) EDIT-101. EDIT-101 is an investigational CRISPR genome editing therapy for the treatment of individuals with LCA10 (Leber Congenital Amaurosis type 10). Editas Medicine plans to submit an IND (Investigational New Drug) application to the FDA in October.

In August, Editas Medicine also announced that Allergan (AGN) exercised an option to develop and commercialize EDIT-101 worldwide for the treatment of individuals with LCA10. Editas Medicine and Allergan also agreed on Editas Medicine’s co-development and equal share of profits and losses for the sales of EDIT-101 in the US market.

According to the terms of the agreement, Allergan made an upfront payment of $15.0 million. Editas Medicine can also receive a milestone payment of $25.0 million when Allergan’s IND application is accepted by the FDA.

56% of Analysts Recommend a ‘Buy’ for Editas Medicine

Stock performance

On September 7, Editas Medicine (EDIT) stock closed at $30.25, which is ~49.0% below its 52-week high of $45.02 on March 2. Editas Medicine hit its 52-week low of $19.06 on September 27, 2017.

On September 7, Editas Medicine’s stock price closed at $30.25, which is an ~8.0% decline from its close of $32.83 on August 31.

Analysts’ recommendations

Of the nine analysts tracking Editas Medicine in September, five recommended a “buy.” Three analysts recommended a “hold,” and one analyst recommended a “strong sell.”

On September 9, Editas Medicine had a consensus 12-month target price of $45.20, which represents an ~49.42% return on investment over the next 12 months.

Peers’ ratings

In September, ~67.0% of the 21 analysts tracking Bluebird Bio (BLUE) recommended a “buy.” Of the nine analysts tracking Cellectis (CLLS) stock, about 78.0% recommended a “buy.”

On September 9, Bluebird Bio and Cellectis had consensus 12-month target prices of $211.00 and $46.78, respectively. These respective target prices represent ~39.23% and ~78.75% returns on investment over the next 12 months.

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