H.C. Wainwright analyst Mitchell Kapoor reiterated a Buy rating on Editas Medicine (EDIT – Research Report) today and set a price target of $3.00.
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Mitchell Kapoor has given his Buy rating due to a combination of factors, primarily focusing on the promising preclinical data for Editas Medicine’s gene-editing therapies. The recent non-human primate (NHP) data presented at the European Hematology Association meeting demonstrated a significant editing rate of 58% with their targeted lipid nanoparticle (tLNP) packaged HBG1/2 promoter editor. This rate surpasses the therapeutic threshold, indicating a strong potential for clinical success. Additionally, the advantageous de-targeting of the liver observed with Editas’s tLNPs further supports the therapy’s potential efficacy and safety profile.
Furthermore, Editas’s previous success with their reni-cel therapy in Phase 1/2 trials for sickle cell disease (SCD) and beta-thalassemia provides a solid foundation for future developments. The therapy showed impressive increases in hemoglobin levels and prevented vaso-occlusive events (VOEs) in patients, which mitigates risks associated with the current preclinical program. The use of similar technology in their current preclinical asset suggests a promising outlook for achieving best-in-class efficacy. Kapoor also projects significant peak sales by 2041, reinforcing the financial potential of Editas’s therapies.