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EDIT

Editas Medicine

$20.52

-5.64 (-21.56%)

, CRSP

Crispr Therapeutics

$32.70

-4.51 (-12.12%)

10:56
01/22/19
01/22
10:56
01/22/19
10:56

Editas Medicine sinks 21% after CEO steps down, resigns from board

Editas Medicine announced earlier today that Katrine Bosley has decided to step down from her role as President and CEO, effective March 1. Bosley also resigned from the company's board. The board has appointed Cynthia Collins, a member of the board, as interim Chief Executive Officer. It also has initiated a search process to identify a permanent CEO and has retained Heidrick & Struggles to assist in its efforts. Bosley will continue with the company in an advisory capacity until the end of 2019. James Mullen, Chairman of the Board of Directors, said, "Editas Medicine has strong positive momentum with the potential to deliver important genome editing medicines to patients around the world. We are fortunate to have someone with Cindy's proven leadership and significant experience with genomic medicine to take over the day-to-day leadership of Editas Medicine and advance the Company towards its EM22 goals while the CEO search is ongoing." Bosley commented, "The team at Editas Medicine is making the future of medicine a reality. I'm very proud of them and all they have accomplished. I know they will keep driving forward to make unprecedented medicines to help people with serious diseases, and ones that may truly change patients' lives. It has been a privilege to be part of Editas Medicine and to help pioneer this field, and I look forward to their continued success." Shares of Editas Medicine are down 21%, or $5.51, to $20.62 following the news. Shares of peer Crispr Therapeutics (CRSP) are down 12% to $32.70 following a downgrade to Sell at Citi while Intellia Therapeutics (NTLA) is down 8% to $14.04.

EDIT

Editas Medicine

$20.52

-5.64 (-21.56%)

CRSP

Crispr Therapeutics

$32.70

-4.51 (-12.12%)

NTLA

Intellia Therapeutics

$13.90

-1.25 (-8.25%)

EDIT Editas Medicine
$20.52

-5.64 (-21.56%)

10/09/18
GUGG
10/09/18
INITIATION
GUGG
Neutral
Editas Medicine initiated with a Neutral at Guggenheim
Guggenheim analyst Whitney Ijem initiated Editas Medicine with a Neutral rating, calling the company's potential "mostly theoretical at this point as the company has yet to identify programs where these assets can be uniquely deployed."
07/18/18
JEFF
07/18/18
NO CHANGE
Target $40
JEFF
Buy
Study in Nature Biotech has limited readthrough to Intellia, says Jefferies
A new Nature Biotech publication highlights important safety points, but due to the methods/model systems used, the paper has limited readthrough to Intellia Therapeutics (NTLA), Editas Medicine (EDIT) and Crispr Therapeutics (CRSP) programs advancing to the clinic, Jefferies analyst Maury Raycroft tells investors in a research note. The analyst believes the experiments used in the paper were not representative and may not have direct implications to current gene-editing clinical-directed strategies. The paper is another example of using a non-optimal model system with too many variables, Raycroft contends. He keeps a Buy rating on Intellia with a $40 price target.
09/20/18
RAJA
09/20/18
INITIATION
RAJA
Outperform
Editas Medicine initiated with an Outperform at Raymond James
09/21/18
RAJA
09/21/18
INITIATION
Target $40
RAJA
Outperform
Editas Medicine initiated with an Outperform at Raymond James
Raymond James analyst Steven Seedhouse initiated Editas Medicine with an Outperform and $40 price target saying data comps for lead indication LCA10 are the easiest, and is the best lead indication of the three CRISPR pure plays.
CRSP Crispr Therapeutics
$32.70

-4.51 (-12.12%)

01/22/19
SBSH
01/22/19
DOWNGRADE
Target $21
SBSH
Sell
Citi downgrades Crispr Therapeutics to Sell with $21 price target
Citi analyst Yigal Nochomovitz downgraded Crispr Therapeutics to Sell from Neutral and cut his price target for the shares to $21 from $28. Crispr's near-term valuation driver and lead program in related blood disorders "substantially lags" more advanced competitors, Nochomovitz tells investors in a research note. The analyst believes the company's CTX-001 is "at best equivalent" to more advanced competitors and "could have some important liabilities."
01/22/19
01/22/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Gap (GPS) downgraded to Sell from Neutral at Goldman Sachs while Tiffany (TIF) was downgraded to Neutral from Buy. 2. U.S. Steel (X) downgraded to Hold from Buy at Jefferies with analyst Seth Rosenfeld saying "poor" Q4 earnings and Q1 guides will begin to reflect the extent of recent steel margin weakness. 3. Fortinet (FTNT) downgraded to Market Perform from Outperform at BMO Capital with analyst Keith Bachman saying he is not bearish on the stock, expecting the firewall market to remain healthy for several years given the changing throughput requirements, but sees the rating change as reflective of its more balanced risk-reward. 4. Crispr Therapeutics (CRSP) downgraded to Sell from Neutral at Citi with analyst Yigal Nochomovitz saying Crispr's near-term valuation driver and lead program in related blood disorders "substantially lags" more advanced competitors. 5. AMC Entertainment (AMC) downgraded to Neutral from Buy at B. Riley FBR with analyst Eric Wold saying the ramp of the company's subscription service Stubs A-List clouds its EBITDA visibility. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/02/19
PIPR
01/02/19
NO CHANGE
Target $75
PIPR
Overweight
Crispr Therapeutics named a top pick for 2019 at Piper Jaffray
Piper Jaffray analyst Edward Tenthoff names Crispr Therapeutics a top pick for 2019 and reiterates an Overweight rating on the shares with a $75 price target. The stock closed the trading day up $1.30 to $29.87. Crispr is developing "revolutionary" CRISPR/Cas-9 technology as a new therapeutic modality with broad ranging applicability, Tenthoff tells investors in a research note. The Phase I/II studies of CTX-001 in transfusion-dependent beta thalassemia and sickle cell disease will report first-in-man data this year potentially curing patients of disease, adds the analyst.
01/22/19
SBSH
01/22/19
DOWNGRADE
SBSH
Sell
Crispr Therapeutics downgraded to Sell from Neutral at Citi
Citi analyst Yigal Nochomovitz downgraded Crispr Therapeutics to Sell.
NTLA Intellia Therapeutics
$13.90

-1.25 (-8.25%)

11/02/18
WEDB
11/02/18
DOWNGRADE
WEDB
Neutral
Intellia Therapeutics downgraded to Neutral from Outperform at Wedbush
11/02/18
WEDB
11/02/18
DOWNGRADE
Target $20
WEDB
Neutral
Intellia Therapeutics downgraded to Neutral from Outperform at Wedbush
Wedbush analyst David Nierengarten downgraded Intellia Therapeutics to Neutral from Outperform and lowered his price target to $20 from $36 as development delays push out initiation of the company's first clinical trial likely another six months to sometime in 2020. In a research note to investors, the analyst says he overall continues to see broad utility and value for the company's IP and CRISPR/Cas9 gene editing and lipid nanoparticle delivery capabilities, and is "encouraged" by recent LNP delivery enhancements and LNP-AAV hybrid activity in preclinical models; however, with a lack of meaningful catalysts over the next 12 months, Nierengarten suggests moving to the sidelines in the near term until there is more clarity around and approach the company's first IND filing.
11/27/18
LEER
11/27/18
INITIATION
Target $23
LEER
Outperform
Intellia Therapeutics initiated with an Outperform at Leerink
Leerink analyst Mani Foroohar initiated Intellia Therapeutics with an Outperform rating and a price target of $23.
11/27/18
LEER
11/27/18
INITIATION
LEER
Leerink initiates select Genetic Medicine names on increasing regulatory clarity
Leerink analyst Mani Foroohar initiated select Genetic Medicine stocks, stating that the field is "is rich with companies developing drugs" to treat rare diseases and that he is increasingly more bullish on "innovation velocity and increasing regulatory clarity in the sector. Based on his "balanced view of pricing dynamics", the analyst issues an Outperform rating on Wave Life Sciences (WVE), Rocket Pharmaceuticals (RCKT), Intellia Therapeutics (NTLA), Eidos Therapeutics (EIDX), Dicerna (DRNA) and Bluebird Bio (BLUE). The analyst likes Wave Life Sciences as a pure play on Oligotherapeutics and its stereopure chemistry platform as a differentiated approach to oligo drug design. Foroohar is positive on Rocket Pharma's lead assets in gene therapies for Fanconi Anemia and Leukocyte Adhesion Deficiency-I "which will likely be the company's first potential approved product." The analyst is positive on Intellia Therapeutics' "robust balance sheet to support development, trading at a material discount to closest comps peers". For Eidos, the analyst cites the prospects of its drug candidate for TTR amyloidosis currently in a placebo-controlled Phase 2 study that may offer a competitive profile relative to Pfizer's (PFE) tafamidis. For Dicerna, Foroohar notes that its DCR-PHXC "is an RNAi therapeutic that targets lactate dehydrogenase A for the treatment of all subtypes of Primary Hyperoxaluria vs. competitor Alnylam's (ALNY) lumasiran, which only treats PH Type 1. For Bluebird Bio, the analyst is positive on its position as a "leader in ex vivo gene therapy, with four programs with visibility towards near-term regulatory approval". Foroohar initiates Avrobio (AVRO), Alnylam (ALNY), and Ionis Pharmaceuticals (IONS) with Market Perform rating based on competitive launches for their products along with "mixed" early signs of their results. The analyst also rates Regenxbio (RGNX) at underperform, saying that its "current valuation more than accounts for robust royalty streams from sales in spinal muscular atrophy" and other partnered assets.

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