Cantor starts Editas Medicine at OW; PT $15


Cantor Fitzgerald initiated coverage of Editas Medicine (NASDAQ:EDIT) with an “overweight” rating and 12-month price target of $15. The stock closed at $9.35 on Jan. 31.

Editas is a clinical-stage gene editing company with lead program EDIT-301 in Phase 1 studies for sickle cell disease.

“Following the recent pipeline reprioritization and pausing of internal investments in the retinal disease/induced pluripotent stem cell derived natural killer cell programs, we believe Editas shares are well-positioned to appreciate in the coming year due to favorable IP positioning and expected clinical data updates,” writes analyst Rick Bienkowski, Ph.D..

“We see the upcoming decision from the U.S. Court of Appeals in the second half of 2023 for the in-licensed patent portfolio from the Broad Institute as solidifying the company’s favorable IP positioning and setting up the company to negotiate sublicenses for CRISPR/Cas9-based medicines,” he added.

In addition, Dr. Bienkowski said he believes the follow-up data from the Phase 1 Ruby study in sickle cell disease, guided in mid-2023, “could strengthen clinical proof-of-concept for EDIT-301 and the company’s CRISPR/Cas12a platform.”