Editas Medicine, Inc. (EDIT) Given Average Rating of “Buy” by Analysts
Editas Medicine, Inc. (NASDAQ:EDIT) has received an average recommendation of “Buy” from the nine brokerages that are presently covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $26.54.
A number of equities analysts recently commented on EDIT shares. Zacks Investment Research cut shares of Editas Medicine from a “buy” rating to a “hold” rating in a research report on Tuesday, July 18th. Cann started coverage on shares of Editas Medicine in a research report on Monday, July 17th. They issued a “market perform” rating on the stock. J P Morgan Chase & Co set a $27.00 target price on shares of Editas Medicine and gave the stock a “hold” rating in a research report on Wednesday, August 9th. Oppenheimer Holdings, Inc. reiterated a “market perform” rating on shares of Editas Medicine in a research report on Tuesday, July 18th. Finally, SunTrust Banks, Inc. started coverage on shares of Editas Medicine in a research report on Thursday, July 13th. They issued a “hold” rating and a $17.00 target price on the stock.
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Editas Medicine (NASDAQ:EDIT) opened at 21.26 on Thursday. The firm’s market cap is $870.09 million. Editas Medicine has a 52-week low of $12.43 and a 52-week high of $29.20. The company’s 50 day moving average price is $17.75 and its 200 day moving average price is $19.12.
Editas Medicine (NASDAQ:EDIT) last issued its earnings results on Wednesday, August 9th. The company reported ($0.65) EPS for the quarter, missing analysts’ consensus estimates of ($0.64) by $0.01. The business had revenue of $3.10 million during the quarter, compared to analysts’ expectations of $2.20 million. Editas Medicine had a negative return on equity of 67.75% and a negative net margin of 2,091.36%. Editas Medicine’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.54) EPS. Analysts predict that Editas Medicine will post ($2.84) earnings per share for the current fiscal year.
In other Editas Medicine news, insider Katrine Bosley sold 16,666 shares of the firm’s stock in a transaction on Friday, August 11th. The shares were sold at an average price of $20.02, for a total value of $333,653.32. Following the sale, the insider now owns 1,431,095 shares of the company’s stock, valued at approximately $28,650,521.90. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Boris Nikolic purchased 35,000 shares of the business’s stock in a transaction on Friday, June 2nd. The stock was purchased at an average cost of $14.07 per share, for a total transaction of $492,450.00. Following the acquisition, the director now owns 35,000 shares in the company, valued at $492,450. The disclosure for this purchase can be found here.
A number of large investors have recently made changes to their positions in EDIT. IHT Wealth Management LLC purchased a new stake in shares of Editas Medicine during the second quarter worth about $107,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Editas Medicine during the second quarter worth about $127,000. Bank of America Corp DE raised its stake in shares of Editas Medicine by 72.2% in the first quarter. Bank of America Corp DE now owns 5,936 shares of the company’s stock worth $133,000 after buying an additional 2,489 shares during the period. Legal & General Group Plc raised its stake in shares of Editas Medicine by 308.4% in the second quarter. Legal & General Group Plc now owns 8,654 shares of the company’s stock worth $145,000 after buying an additional 6,535 shares during the period. Finally, Creative Planning raised its stake in shares of Editas Medicine by 8,910.9% in the second quarter. Creative Planning now owns 9,101 shares of the company’s stock worth $153,000 after buying an additional 9,000 shares during the period. 70.17% of the stock is currently owned by institutional investors and hedge funds.
Editas Medicine Company Profile
Editas Medicine, Inc is a genome editing company. It is engaged in treating patients with genetically defined diseases by correcting their disease-causing genes. It operates through developing and commercializing genome editing technology segment. It is developing a genome editing platform based on clustered, regularly interspaced short palindromic repeats (CRISPR) technology.
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