Analyst Initiates Coverage On This Peer Lagging Gene-Editing Stock

Cantor Fitzgerald initiated coverage on Editas Medicine Inc 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 NTLA and CRISPR Therapeutics Inc 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.

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