Buy Rating Affirmed for Editas Medicine Amid Promising CRISPR Pipeline and Growth Potential

Analyst Jack Allen of Robert W. Baird reiterated a Buy rating on Editas Medicine (EDIT – Research Report), retaining the price target of $18.00.

Jack Allen has given his Buy rating due to a combination of factors that present an optimistic future for Editas Medicine. The company’s financial performance and pipeline updates align with expectations, maintaining a steady course in its clinical developments. The forward-looking perspective suggests significant potential catalysts in the second half of the year, particularly regarding their leading CRISPR gene editing candidate, reni-cel. With the stock currently priced below $100M in enterprise value, Allen sees an attractive entry point for investors, anticipating that forthcoming clinical data and intellectual property advancements will renew investor interest and drive the stock’s performance.

Furthermore, Allen acknowledges multiple upcoming updates on Editas’s trials, which are expected to shed light on the clinical differentiation of their programs. The potential affirmation of their CRISPR-Cas9 patent estate could act as another positive catalyst, potentially expanding licensing opportunities. Progress in their in vivo pipeline and a cash runway extending into 2026 also contribute to the Buy rating. Allen’s analysis suggests that Editas Medicine is well-positioned to leverage its CRISPR-Cas9 IP and continue its research and development endeavors without immediate financial strain, positioning the company for growth and making the stock an attractive buy for investors.

In another report released on May 8, Wells Fargo also maintained a Buy rating on the stock with a $27.00 price target.

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Editas Medicine (EDIT) Company Description:

Editas Medicine, Inc. engages in the development and commercialization of genome editing technology. Its technology includes clustered, regularly interspaced short palindromic repeats (CRISPR), and CRISPR associated protein 9 (Cas9). The company was founded by Feng Zhang, Jennifer A. Doudna, George McDonald Church, J. Keith Joung and David R. Liu in September 2013 and is headquartered in Cambridge, MA.