#5 - Editas Medicine (NASDAQ:EDIT)
To this point, we’ve focused on biotech stocks that are trading near their all-time highs. Editas Medicine (NASDAQ:EDIT) presents investors with the opposite case. At this time, EDIT stock is trading near its all-time low.
Editas has only been publicly trading since 2016 so there’s not a long history here. And that’s okay because this stock is all about the future, specifically the field of gene editing. Along with many gene-editing stocks, EDIT stock soared to over $90 a share early in 2021 as the sector went into a short-lived bubble.
The price movement since then illustrates the volatility in this nascent field. Editas doesn’t have a product on the market and maybe years away from doing so. That being said, the company appears to have enough cash on hand to get it through 2023. By that time, it may be able to bring one of its therapies to market.
Although the consensus opinion of analysts tracked by MarketBeat gives EDIT stock a Hold rating, it also has a price target with a 95% upside. That aligns nicely with the company’s stock chart which suggests that the stock is oversold which may make it attractive to risk-tolerant investors.
About Editas Medicine
Editas Medicine, Inc, a clinical stage genome editing company, focuses on developing transformative genomic medicines to treat a range of serious diseases. It develops a proprietary gene editing platform based on CRISPR technology. The company develops EDIT-101, which is in Phase 1/2 BRILLIANCE trial for Leber Congenital Amaurosis; and reni-cel, a clinical development gene-edited medicine to treat sickle cell disease and transfusion-dependent beta-thalassemia.
Read More - Current Price
- $2.43
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 7 Buy Ratings, 6 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $9.08 (273.8% Upside)
