Wall Street brokerages expect that Editas Medicine, Inc. (NASDAQ:EDIT) will post sales of $1.87 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Editas Medicine’s earnings, with estimates ranging from $500,000.00 to $3.10 million. Editas Medicine posted sales of $960,000.00 in the same quarter last year, which would indicate a positive year over year growth rate of 94.8%. The company is expected to announce its next earnings results on Monday, November 6th.
On average, analysts expect that Editas Medicine will report full-year sales of $1.87 million for the current financial year, with estimates ranging from $4.80 million to $23.28 million. For the next year, analysts anticipate that the company will report sales of $23.31 million per share, with estimates ranging from $15.00 million to $39.03 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Editas Medicine.
Editas Medicine (NASDAQ:EDIT) last released its quarterly earnings data on Wednesday, August 9th. The company reported ($0.65) EPS for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.01). Editas Medicine had a negative net margin of 2,091.36% and a negative return on equity of 67.75%. The business had revenue of $3.10 million during the quarter, compared to analysts’ expectations of $2.20 million. During the same quarter in the previous year, the company posted ($0.54) EPS. The company’s revenue was down 8.8% compared to the same quarter last year.
Several research analysts recently commented on EDIT shares. Zacks Investment Research upgraded Editas Medicine from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research note on Wednesday, July 12th. Morgan Stanley reiterated an “equal weight” rating and issued a $28.00 price target (up previously from $27.00) on shares of Editas Medicine in a research note on Friday, October 6th. SunTrust Banks, Inc. started coverage on Editas Medicine in a research note on Thursday, July 13th. They issued a “hold” rating and a $17.00 price target on the stock. ValuEngine upgraded Editas Medicine from a “sell” rating to a “hold” rating in a research note on Saturday, September 30th. Finally, J P Morgan Chase & Co set a $27.00 price objective on Editas Medicine and gave the company a “hold” rating in a research note on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $25.88.
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Editas Medicine (NASDAQ EDIT) opened at 22.28 on Monday. The company’s 50-day moving average price is $22.87 and its 200-day moving average price is $22.87. Editas Medicine has a 1-year low of $12.43 and a 1-year high of $29.20. The stock’s market cap is $911.83 million.
In other Editas Medicine news, insider Katrine Bosley sold 8,333 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $24.78, for a total transaction of $206,491.74. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold 51,665 shares of company stock worth $1,083,165 in the last 90 days. 19.40% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of EDIT. Vanguard Group Inc. grew its holdings in shares of Editas Medicine by 47.0% during the first quarter. Vanguard Group Inc. now owns 1,935,173 shares of the company’s stock valued at $43,193,000 after purchasing an additional 618,789 shares during the last quarter. State Street Corp grew its holdings in shares of Editas Medicine by 305.4% during the second quarter. State Street Corp now owns 537,640 shares of the company’s stock valued at $9,022,000 after purchasing an additional 405,022 shares during the last quarter. ARK Investment Management LLC grew its holdings in shares of Editas Medicine by 121.9% during the second quarter. ARK Investment Management LLC now owns 510,187 shares of the company’s stock valued at $8,561,000 after purchasing an additional 280,265 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Editas Medicine by 245.9% during the second quarter. Northern Trust Corp now owns 373,149 shares of the company’s stock valued at $6,261,000 after purchasing an additional 265,273 shares during the last quarter. Finally, TIAA CREF Investment Management LLC grew its holdings in shares of Editas Medicine by 715.7% during the second quarter. TIAA CREF Investment Management LLC now owns 149,748 shares of the company’s stock valued at $2,513,000 after purchasing an additional 131,389 shares during the last quarter. 70.45% of the stock is owned by institutional investors.
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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