H.C. Wainwright has initiated coverage on Editas Medicine (EDIT, Financial) with a Buy rating and set a target price of $3. Editas Medicine, a company at the forefront of genetic medicine, focuses on developing transformative therapies using AsCas12a nuclease CRISPR technology for genetic editing in vivo.
The firm views the company's current in vivo gene editing platform as undervalued. With a market capitalization of $130 million and $270 million in cash reserves, Editas Medicine has a negative enterprise value, which provides a unique opportunity, according to H.C. Wainwright. They consider it a risk-mitigated chance to invest in a company offering differentiated gene editing solutions.
