Editas Medicine’s (EDIT) Buy Rating Reaffirmed at Chardan Capital

Chardan Capital reaffirmed their buy rating on shares of Editas Medicine (NASDAQ:EDIT) in a research note published on Tuesday, Benzinga reports. They currently have a $12.00 price target on the stock.

Other equities analysts have also recently issued reports about the stock. Bank of America raised shares of Editas Medicine from a “neutral” rating to a “buy” rating and upped their price objective for the company from $13.00 to $15.00 in a research report on Thursday, August 8th. Evercore ISI lowered their price objective on Editas Medicine from $7.00 to $3.00 and set an “in-line” rating for the company in a research note on Wednesday, October 23rd. Royal Bank of Canada cut their target price on Editas Medicine from $8.00 to $5.00 and set a “sector perform” rating on the stock in a research report on Tuesday. Wells Fargo & Company decreased their price target on shares of Editas Medicine from $9.00 to $7.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, Barclays reduced their price objective on shares of Editas Medicine from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Tuesday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Editas Medicine currently has a consensus rating of “Hold” and a consensus target price of $9.08.

Editas Medicine Trading Up 8.3 %

NASDAQ:EDIT opened at $3.12 on Tuesday. The firm’s fifty day simple moving average is $3.42 and its 200 day simple moving average is $4.51. Editas Medicine has a twelve month low of $2.70 and a twelve month high of $11.69. The firm has a market capitalization of $257.33 million, a price-to-earnings ratio of -1.22 and a beta of 2.01.

Editas Medicine (NASDAQ:EDIT) last issued its quarterly earnings data on Monday, November 4th. The company reported ($0.75) EPS for the quarter, hitting analysts’ consensus estimates of ($0.75). The company had revenue of $0.06 million for the quarter, compared to analysts’ expectations of $3.93 million. Editas Medicine had a negative return on equity of 62.61% and a negative net margin of 288.59%. The firm’s quarterly revenue was down 98.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.55) earnings per share. On average, analysts predict that Editas Medicine will post -2.96 earnings per share for the current year.

Institutional Trading of Editas Medicine

Several hedge funds have recently made changes to their positions in the stock. Signaturefd LLC increased its position in Editas Medicine by 494.8% in the third quarter. Signaturefd LLC now owns 9,326 shares of the company’s stock worth $32,000 after buying an additional 7,758 shares during the period. Headlands Technologies LLC lifted its position in Editas Medicine by 481.7% in the 1st quarter. Headlands Technologies LLC now owns 9,493 shares of the company’s stock valued at $70,000 after purchasing an additional 7,861 shares during the last quarter. EntryPoint Capital LLC acquired a new position in Editas Medicine during the 1st quarter valued at about $72,000. Koss Olinger Consulting LLC bought a new position in Editas Medicine in the 2nd quarter worth about $47,000. Finally, Ballentine Partners LLC bought a new position in Editas Medicine in the 3rd quarter worth about $36,000. Institutional investors own 71.90% of the company’s stock.

Editas Medicine Company Profile

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.