Editas Medicine Inc (EDIT) Expected to Announce Quarterly Sales of $3.33 Million

Brokerages forecast that Editas Medicine Inc (NASDAQ:EDIT) will report $3.33 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Editas Medicine’s earnings, with the highest sales estimate coming in at $6.28 million and the lowest estimate coming in at $1.20 million. Editas Medicine reported sales of $900,000.00 in the same quarter last year, which would suggest a positive year over year growth rate of 270%. The company is scheduled to report its next earnings results on Tuesday, March 6th.

According to Zacks, analysts expect that Editas Medicine will report full-year sales of $3.33 million for the current year, with estimates ranging from $11.30 million to $16.34 million. For the next year, analysts expect that the company will post sales of $19.98 million per share, with estimates ranging from $10.00 million to $39.03 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that follow Editas Medicine.

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

A number of brokerages recently weighed in on EDIT. Barclays began coverage on Editas Medicine in a report on Wednesday, September 6th. They set an “overweight” rating and a $28.00 price objective on the stock. ValuEngine raised Editas Medicine from a “sell” rating to a “hold” rating in a report on Saturday, September 30th. Morgan Stanley reaffirmed an “equal weight” rating and set a $28.00 price objective (up previously from $27.00) on shares of Editas Medicine in a report on Friday, October 6th. Zacks Investment Research lowered Editas Medicine from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. Finally, Cowen reaffirmed a “buy” rating on shares of Editas Medicine in a report on Tuesday, November 7th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $26.73.

In other Editas Medicine news, CFO Andrew A. F. Hack sold 5,000 shares of the company’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $24.31, for a total transaction of $121,550.00. Following the completion of the sale, the chief financial officer now directly owns 5,000 shares in the company, valued at $121,550. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Katrine Bosley sold 8,333 shares of the company’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $29.58, for a total value of $246,490.14. Following the sale, the insider now owns 1,387,897 shares of the company’s stock, valued at $41,053,993.26. 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 quarter. Insiders own 19.40% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. IHT Wealth Management LLC purchased a new position in Editas Medicine in the second quarter valued at about $107,000. Great West Life Assurance Co. Can lifted its holdings in Editas Medicine by 519.9% during the 3rd quarter. Great West Life Assurance Co. Can now owns 4,959 shares of the company’s stock worth $114,000 after buying an additional 4,159 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in Editas Medicine during the 2nd quarter worth approximately $127,000. Bank of America Corp DE lifted its holdings in 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 buying an additional 2,489 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in Editas Medicine by 308.4% during the 2nd quarter. Legal & General Group Plc now owns 8,654 shares of the company’s stock worth $145,000 after buying an additional 6,535 shares during the last quarter. Institutional investors and hedge funds own 65.74% of the company’s stock.

Editas Medicine (NASDAQ EDIT) opened at $28.43 on Monday. The stock has a market capitalization of $1,200.00 and a P/E ratio of -8.77. The company has a quick ratio of 10.12, a current ratio of 10.12 and a debt-to-equity ratio of 0.19. Editas Medicine has a twelve month low of $13.12 and a twelve month high of $31.81.

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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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