Evercore ISI Initiates Coverage on Homology Medicines (NASDAQ:FIXX)

Stock analysts at Evercore ISI initiated coverage on shares of Homology Medicines (NASDAQ:FIXX) in a note issued to investors on Thursday, April 11th, The Fly reports. The firm set an “outperform” rating and a $29.00 price target on the stock. Evercore ISI’s price objective indicates a potential upside of 29.93% from the stock’s previous close.

FIXX has been the subject of a number of other research reports. Canaccord Genuity started coverage on shares of Homology Medicines in a report on Monday, January 7th. They issued a “buy” rating and a $37.00 price objective for the company. ValuEngine upgraded shares of Homology Medicines from a “hold” rating to a “buy” rating in a report on Friday, March 1st. HC Wainwright began coverage on shares of Homology Medicines in a research report on Wednesday, February 20th. They set a “buy” rating and a $36.00 price objective for the company. Finally, Zacks Investment Research raised shares of Homology Medicines from a “sell” rating to a “hold” rating in a research report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $27.90.

FIXX stock opened at $22.32 on Thursday. Homology Medicines has a 52-week low of $15.07 and a 52-week high of $31.80. The stock has a market cap of $962.30 million, a PE ratio of -11.16 and a beta of 0.12.

Homology Medicines (NASDAQ:FIXX) last posted its earnings results on Tuesday, March 12th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.07). Homology Medicines had a negative return on equity of 39.14% and a negative net margin of 1,553.07%. The firm had revenue of $0.98 million for the quarter. As a group, research analysts predict that Homology Medicines will post -2.18 earnings per share for the current year.

In other news, insider James E. Flynn acquired 533,333 shares of the firm’s stock in a transaction dated Friday, April 12th. The stock was acquired at an average cost of $22.50 per share, with a total value of $11,999,992.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

A number of large investors have recently made changes to their positions in FIXX. Great West Life Assurance Co. Can acquired a new stake in Homology Medicines during the 4th quarter worth $56,000. Legal & General Group Plc raised its stake in Homology Medicines by 103.2% during the 4th quarter. Legal & General Group Plc now owns 3,153 shares of the company’s stock worth $71,000 after acquiring an additional 1,601 shares in the last quarter. Citigroup Inc. raised its stake in Homology Medicines by 53.3% during the 4th quarter. Citigroup Inc. now owns 4,180 shares of the company’s stock worth $93,000 after acquiring an additional 1,453 shares in the last quarter. BNP Paribas Arbitrage SA acquired a new stake in Homology Medicines during the 1st quarter worth $99,000. Finally, Metropolitan Life Insurance Co. NY acquired a new stake in Homology Medicines during the 4th quarter worth $138,000. Hedge funds and other institutional investors own 60.68% of the company’s stock.

Homology Medicines Company Profile

Homology Medicines, Inc, a genetic medicines company, focuses on translating proprietary gene editing and gene therapy technologies into novel treatments for patients with rare diseases. Its proprietary platform is designed to utilize its human hematopoietic stem cell derived adeno-associated virus vectors (AAVHSCs) to deliver genetic medicines in vivo either through a gene therapy or nuclease-free gene editing modality across a range of genetic disorders.

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