Editas Medicine (NASDAQ:EDIT) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday.

Other research analysts have also issued reports about the company. Guggenheim began coverage on Editas Medicine in a research report on Tuesday, October 9th. They set a “neutral” rating on the stock. Raymond James began coverage on Editas Medicine in a research report on Friday, September 21st. They set an “outperform” rating and a $40.00 target price on the stock. Zacks Investment Research raised Editas Medicine from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a research report on Tuesday, November 13th. Finally, JPMorgan Chase & Co. set a $36.00 target price on Editas Medicine and gave the company a “hold” rating in a research report on Monday, August 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $45.50.

EDIT opened at $30.49 on Tuesday. The company has a current ratio of 13.14, a quick ratio of 13.13 and a debt-to-equity ratio of 0.15. Editas Medicine has a 12 month low of $22.50 and a 12 month high of $45.02.

Editas Medicine (NASDAQ:EDIT) last released its quarterly earnings results on Wednesday, November 7th. The company reported ($0.32) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.72) by $0.40. Editas Medicine had a negative return on equity of 53.15% and a negative net margin of 410.68%. The firm had revenue of $14.52 million during the quarter, compared to analyst estimates of $9.83 million. During the same period in the previous year, the company posted ($0.64) EPS. The business’s revenue for the quarter was up 131.2% compared to the same quarter last year. As a group, equities analysts anticipate that Editas Medicine will post -2.18 EPS for the current fiscal year.

In related news, CFO Andrew A. F. Hack sold 6,000 shares of the company’s stock in a transaction dated Friday, October 26th. The stock was sold at an average price of $25.70, for a total transaction of $154,200.00. Following the transaction, the chief financial officer now directly owns 6,000 shares of the company’s stock, valued at approximately $154,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Vickesh Myer sold 3,000 shares of the company’s stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $32.33, for a total value of $96,990.00. Following the transaction, the chief technology officer now directly owns 3,000 shares in the company, valued at $96,990. The disclosure for this sale can be found here. Insiders have sold a total of 54,284 shares of company stock worth $1,575,135 over the last ninety days. 5.20% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of EDIT. Carnegie Capital Asset Management LLC boosted its stake in shares of Editas Medicine by 25.1% in the third quarter. Carnegie Capital Asset Management LLC now owns 46,050 shares of the company’s stock worth $1,331,000 after buying an additional 9,230 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Editas Medicine by 3.9% in the third quarter. Vanguard Group Inc. now owns 3,729,579 shares of the company’s stock worth $118,675,000 after buying an additional 141,609 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Editas Medicine by 139.3% in the third quarter. Legal & General Group Plc now owns 17,291 shares of the company’s stock worth $551,000 after buying an additional 10,065 shares during the last quarter. Lombard Odier Asset Management USA Corp purchased a new stake in shares of Editas Medicine in the third quarter worth about $1,591,000. Finally, Rehmann Capital Advisory Group boosted its stake in shares of Editas Medicine by 3,082.0% in the third quarter. Rehmann Capital Advisory Group now owns 9,546 shares of the company’s stock worth $300,000 after buying an additional 9,246 shares during the last quarter. Institutional investors and hedge funds own 68.79% of the company’s stock.

Editas Medicine Company Profile

Editas Medicine, Inc operates as a genome editing company. It focuses on treating patients with genetically defined diseases by correcting their disease causing genes. The company develops a proprietary genome editing platform based on CRISPR technology to target genetically defined diseases with an initial focus on debilitating illnesses where there are no approved treatments.

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Analyst Recommendations for Editas Medicine (NASDAQ:EDIT)

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