Editas Medicine, Inc. (EDIT) Given Consensus Rating of “Hold” by Analysts
Editas Medicine, Inc. (NASDAQ:EDIT) has received an average recommendation of “Hold” from the twelve ratings firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $27.02.
Several analysts have issued reports on the company. Zacks Investment Research cut Editas Medicine from a “buy” rating to a “hold” rating in a report on Monday. Oppenheimer Holdings, Inc. reiterated a “market perform” rating on shares of Editas Medicine in a report on Tuesday, July 18th. Cann restated a “hold” rating on shares of Editas Medicine in a report on Thursday, August 10th. Barclays PLC assumed coverage on Editas Medicine in a report on Wednesday, September 6th. They issued an “overweight” rating and a $28.00 target price for the company. Finally, Cowen and Company restated a “buy” rating on shares of Editas Medicine in a report on Tuesday, November 7th.
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In other news, insider Katrine Bosley sold 8,333 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $23.64, for a total transaction of $196,992.12. Following the completion of the transaction, the insider now directly owns 1,393,322 shares in the company, valued at approximately $32,938,132.08. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last quarter, insiders have sold 43,332 shares of company stock valued at $946,504. Company insiders own 19.40% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. IHT Wealth Management LLC purchased a new position in shares of Editas Medicine during the 2nd quarter worth $107,000. Royal Bank of Canada grew its holdings in shares of Editas Medicine by 4.1% during the 2nd quarter. Royal Bank of Canada now owns 9,364 shares of the company’s stock worth $157,000 after purchasing an additional 372 shares during the period. Bank of America Corp DE grew its holdings in shares of Editas Medicine by 72.2% during the 1st quarter. Bank of America Corp DE now owns 5,936 shares of the company’s stock worth $133,000 after purchasing an additional 2,489 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in shares of Editas Medicine by 8.4% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 42,150 shares of the company’s stock worth $941,000 after purchasing an additional 3,249 shares during the period. Finally, ProShare Advisors LLC grew its holdings in shares of Editas Medicine by 18.9% during the 2nd quarter. ProShare Advisors LLC now owns 24,211 shares of the company’s stock worth $406,000 after purchasing an additional 3,857 shares during the period. Institutional investors and hedge funds own 67.17% of the company’s stock.
Shares of Editas Medicine (EDIT) opened at $24.68 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 10.12 and a quick ratio of 10.12. Editas Medicine has a twelve month low of $13.12 and a twelve month high of $29.20.
Editas Medicine (NASDAQ:EDIT) last issued its earnings results on Tuesday, November 7th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.60) by ($0.04). The company had revenue of $6.28 million during the quarter, compared to analysts’ expectations of $2.66 million. Editas Medicine had a negative net margin of 1,127.03% and a negative return on equity of 70.19%. The firm’s quarterly revenue was up 553.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.59) earnings per share. equities analysts anticipate that Editas Medicine will post -2.86 EPS for the current fiscal year.
About Editas Medicine
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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