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Analyst Initiates Coverage On This Peer Lagging Gene-Editing Stock

  • Cantor Fitzgerald initiated coverage on Editas Medicine Inc (NASDAQ: EDIT) with an Overweight rating and a price target of $15.

  • The analyst says that following the recent pipeline reprioritization and pausing of internal investments in the retinal disease/induced pluripotent stem cell-derived natural killer cell programs, Editas shares are well-positioned to appreciate in the coming year due to favorable IP positioning and expected clinical data updates.

  • Also See: Citing Small Population, Editas Medicine Pauses Work On Gene Therapy Trial For Genetic Eye Disorder.

  • Cantor also says that the upcoming decision from the U.S. Court of Appeals in 2H23 for the in-licensed patent portfolio from the Broad Institute will solidify the company's IP positioning.

  • EDIT shares are trading at an implied EV of ~$165 million, compared to the peers Intellia Therapeutics Inc (NASDAQ: NTLA) and CRISPR Therapeutics Inc (NASDAQ: CRSP), are trading at implied EVs of ~$2.12 billion and $1.94 billion, respectively.

  • EDIT is lagging in development, though Cantor says the potential value of EDIT's CRISPR-based gene-editing platform is largely overlooked at these valuations.

  • Price Action: EDIT shares are up 1.01% at $9.99 on the last check Wednesday.

Latest Ratings for EDIT






Feb 2022




Feb 2022

Chardan Capital



Feb 2022

SVB Leerink


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This article Analyst Initiates Coverage On This Peer Lagging Gene-Editing Stock originally appeared on Benzinga.com


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