Editas Medicine, Inc. (NASDAQ: EDIT) Given the average “hold” recommendation by brokerage firms
Shares of Editas Medicine, Inc. (NASDAQ: EDIT) have received a consensus recommendation to “hold” by the seventeen brokerages that currently hedge the stock, Marketbeat Ratings reports. Three equity research analysts rated the stock with a sell rating, five gave the conservation rating, and nine gave the company a buy rating. The 12-month average price target among analysts who published a report on the stock in the past year is $ 57.27.
A number of research companies have weighed in on EDIT. Robert W. Baird reissued a “buy” note on the shares of Editas Medicine in a research report on Wednesday, October 20. Stifel Nicolaus reduced his price target for the shares of Editas Medicine from $ 65.00 to $ 46.00 and set a “conservation” rating for the company in a research report released Thursday, September 30. SVB Leerink began covering shares of Editas Medicine in a research report on Tuesday, October 19. They established a “market performance” rating and a target price of $ 41.00 for the company. Chardan Capital reissued a “buy” note and set a price target of $ 75 on shares of Editas Medicine in a research report on Thursday, September 30. Finally, Oppenheimer upgraded the shares of Editas Medicine from a “market performance” rating to an “outperformance” rating and increased the target share price from $ 42.00 to $ 80.00. in a research report released Thursday, September 9.
In other news from Editas Medicine, Executive Vice President Lisa Anne Michaels sold 1,568 shares of the company in a trade dated Friday, November 12. The shares were sold at an average price of $ 38.33, for a total trade of $ 60,101.44. The sale was disclosed in a legal file with the SEC, accessible through this link. In addition, CEO James C. Mullen sold 13,805 shares of the company in a transaction dated Monday, October 18. The stock was sold for an average price of $ 38.03, for a total trade of $ 525.04.15. Disclosure of this sale can be found here. In the past three months, insiders have sold 15,660 shares of the company valued at $ 596,761. 0.44% of the shares are currently owned by insiders.
A number of institutional investors have recently changed their holdings in the company. CKW Financial Group purchased a new stake in the shares of Editas Medicine during the third quarter for a value of approximately $ 28,000. Advisory Services Network LLC purchased a new stake in the shares of Editas Medicine during the second quarter valued at approximately $ 32,000. Capital Analysts LLC purchased a new stake in the shares of Editas Medicine during the second quarter valued at approximately $ 33,000. First Horizon Advisors Inc. increased its stake in the shares of Editas Medicine by 55.0% during the second quarter. First Horizon Advisors Inc. now owns 758 shares of the company valued at $ 42,000 after purchasing an additional 269 shares in the last quarter. Finally, Knott David M acquired a new position in Editas Medicine in the second quarter worth approximately $ 57,000. 74.58% of the shares are currently held by hedge funds and other institutional investors.
NASDAQ: EDIT shares opened at $ 29.54 on Thursday. The stock has a market cap of $ 2.02 billion, a PE ratio of -9.12 and a beta of 2.00. Editas Medicine has a one-year low at $ 26.82 and a one-year high at $ 99.95. The company has a fifty-day moving average price of $ 34.58 and a 200-day moving average price of $ 44.69.
Editas Medicine (NASDAQ: EDIT) last released its quarterly earnings data on Monday, November 8. The company reported ($ 0.57) earnings per share (EPS) for the quarter, exceeding the Zacks’ consensus estimate of ($ 0.81) by $ 0.24. The company posted revenue of $ 6.20 million in the quarter, compared to $ 4.92 million expected by analysts. Editas Medicine had a negative net margin of 871.91% and a negative return on equity of 38.28%. Editas Medicine’s revenue for the quarter was down 90.1% year-on-year. During the same period of the previous year, the company posted earnings per share of $ 0.12. On average, equity analysts expect Editas Medicine to post earnings per share of -3.08 for the current year.
Company profile Editas Medicine
Editas Medicine, Inc. engages in the development and commercialization of genome editing technology. Its technology includes clustered and regularly spaced short palindromic repeats (CRISPR) and CRISPR associated protein 9 (Cas9). The company was founded by Feng Zhang, Jennifer A. Doudna, George McDonald Church, J.
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