Brokerages Expect Editas Medicine Inc (EDIT) to Post -$0.79 EPS

Wall Street brokerages predict that Editas Medicine Inc (NASDAQ:EDIT) will report earnings per share (EPS) of ($0.79) for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Editas Medicine’s earnings, with the lowest EPS estimate coming in at ($1.36) and the highest estimate coming in at ($0.62). Editas Medicine reported earnings per share of ($1.10) during the same quarter last year, which indicates a positive year over year growth rate of 28.2%. The business is expected to issue its next earnings results on Tuesday, March 6th.

According to Zacks, analysts expect that Editas Medicine will report full year earnings of ($2.92) per share for the current financial year, with EPS estimates ranging from ($3.51) to ($2.74). For the next financial year, analysts expect that the company will report earnings of ($3.01) per share, with EPS estimates ranging from ($4.33) to ($2.36). Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for Editas Medicine.

Editas Medicine (NASDAQ:EDIT) last announced its earnings results on Tuesday, November 7th. The company reported ($0.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.04). Editas Medicine had a negative return on equity of 70.19% and a negative net margin of 1,127.03%. The firm had revenue of $6.28 million for the quarter, compared to the consensus estimate of $2.66 million. During the same period in the prior year, the business earned ($0.59) EPS. Editas Medicine’s quarterly revenue was up 553.0% on a year-over-year basis.

A number of equities analysts recently weighed in on the stock. Barclays assumed coverage on shares of Editas Medicine in a research note on Wednesday, September 6th. They set an “overweight” rating and a $28.00 target price for the company. Cowen restated a “buy” rating on shares of Editas Medicine in a report on Tuesday, November 7th. BidaskClub cut shares of Editas Medicine from a “buy” rating to a “hold” rating in a report on Thursday, December 7th. ValuEngine cut shares of Editas Medicine from a “hold” rating to a “sell” rating in a report on Friday, December 1st. Finally, Zacks Investment Research cut shares of Editas Medicine from a “buy” rating to a “hold” rating in a report on Monday, November 13th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Editas Medicine currently has a consensus rating of “Hold” and a consensus target price of $26.73.

Shares of Editas Medicine (NASDAQ:EDIT) traded up $1.72 during midday trading on Friday, reaching $28.43. 1,338,533 shares of the company were exchanged, compared to its average volume of 1,352,055. Editas Medicine has a fifty-two week low of $13.12 and a fifty-two week high of $31.81. The company has a market capitalization of $1,177.37, a P/E ratio of -8.77 and a beta of 5.00. The company has a debt-to-equity ratio of 0.19, a current ratio of 10.12 and a quick ratio of 10.12.

In other news, insider Katrine Bosley sold 8,333 shares of Editas Medicine stock in a transaction dated Wednesday, November 1st. The shares were 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 $32,938,132.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Andrew A. F. Hack sold 5,000 shares of Editas Medicine stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $25.35, for a total transaction of $126,750.00. Following the transaction, the chief financial officer now owns 5,000 shares of the company’s stock, valued at $126,750. The disclosure for this sale can be found here. Insiders sold 54,648 shares of company stock valued at $1,383,861 over the last 90 days. Corporate insiders own 19.40% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. IHT Wealth Management LLC acquired a new position in shares of Editas Medicine during the second quarter valued at about $107,000. Great West Life Assurance Co. Can grew its holdings in shares of Editas Medicine by 519.9% during the third quarter. Great West Life Assurance Co. Can now owns 4,959 shares of the company’s stock valued at $114,000 after buying an additional 4,159 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Editas Medicine by 72.2% during the first quarter. Bank of America Corp DE now owns 5,936 shares of the company’s stock valued at $133,000 after buying an additional 2,489 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in shares of Editas Medicine during the second quarter valued at about $127,000. Finally, Legal & General Group Plc grew its holdings in shares of Editas Medicine by 308.4% during the second quarter. Legal & General Group Plc now owns 8,654 shares of the company’s stock valued at $145,000 after buying an additional 6,535 shares during the last quarter. Hedge funds and other institutional investors own 65.74% of the company’s stock.

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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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