Citi analyst Samantha Semenkow initiated coverage of Editas Medicine with a Neutral rating and $11 price target. The clinical-stage biotech company’s CRISPR technology has "the potential to be transformative across multiple genetic diseases," but Editas has faced several leadership challenges and pipeline execution has lagged peers, Semenkow tells investors. The market was already fairly valuing EDIT-301 and pausing development of EDIT-101 in LCA10 has potential readthrough on feasibility for the remaining ophthalmology pipeline, said Semenkow, who expects shares to remain pressured.
Published first on TheFly
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