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 related to Editas Medicine’s promising preclinical data and potential market opportunities. The company has demonstrated impressive in vivo preclinical results in mice and non-human primates, particularly in the editing of heme stem cells using targeted lipid nanoparticles. This approach builds on previous clinical successes in sickle cell disease, showing significant editing efficiencies that suggest a broader opportunity for delivering large cargos beyond the liver.
Furthermore, Editas’s past success with its ex vivo gene editing therapy, reni-cel, which showed superior results in increasing hemoglobin levels and reducing vaso-occlusive events in sickle cell disease patients, provides a strong foundation for its current preclinical programs. The use of similar technology in their new preclinical asset mitigates risks and supports the potential for best-in-class efficacy in sickle cell disease and beta-thalassemia. Despite a projected net loss for 2025, the company’s financial position remains stable with sufficient cash reserves to support operations into 2027, reinforcing the Buy rating with a 12-month target of $3 per share.
In another report released on May 13, Evercore ISI also maintained a Buy rating on the stock with a $4.00 price target.