Raymond James initiates QXO stock with Outperform rating on acquisition strategy
Investing.com - Wells Fargo raised its price target on Editas Medicine (NASDAQ:EDIT) to $4.00 from $3.00 while maintaining an Equal Weight rating, citing promising preclinical data for the company’s EDIT-401 treatment. The stock, which has surged nearly 95% year-to-date according to InvestingPro data, maintains a strong balance sheet with cash exceeding debt.
The preclinical data showed EDIT-401 increased LDLR protein by at least 6-fold in healthy non-human primates, driving approximately 90% reduction in LDL-C after a single dose across four tested dose levels. No adverse clinical observations were reported, with transient increases in liver enzymes resolving within one week.
Wells Fargo noted the strategy is derisked based on genetic data from seven members of an Icelandic family carrying a gain-of-function LDLR 3’ UTR deletion. These individuals demonstrated 74% lower LDL-C levels and 1.5-2.5-fold higher surface LDL-R than non-carriers, with no adverse health impacts.
The firm highlighted the substantial market opportunity, with an estimated 70 million individuals in the US with hyperlipidemia. Of these, approximately 10 million have ASCVD but are not at goal, and about 1.2 million have HeFH.
Editas Medicine estimates that the financial burden of hyperlipidemia on the US healthcare system is expected to reach over $300 billion by 2035.
In other recent news, Editas Medicine has seen notable developments with two prominent analyst firms raising their stock price targets. H.C. Wainwright increased its price target for Editas Medicine to $5.00, maintaining a Buy rating, citing progress in the company’s pipeline. This follows Editas’ announcement that it plans to select its first in vivo lead candidate by September 2025, focusing on conditions like sickle cell disease or beta thalassemia. Baird also raised its price target for Editas Medicine to $6.00, keeping an Outperform rating, after the company’s second-quarter 2025 earnings and pipeline updates met expectations.
Meanwhile, NuCana plc has released its 2024 UK Annual Report and announced its upcoming Annual General Meeting scheduled for June 27, 2025. The report, filed with the SEC, details the company’s financial performance and strategic initiatives for the fiscal year ending December 31, 2024. NuCana has also distributed a notice of the AGM and a form of proxy to its ordinary shareholders. These developments provide investors with key insights into the company’s recent activities and future plans.
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