Editas Medicine Inc (NASDAQ:EDIT) Expected to Announce Quarterly Sales of $4.11 Million

Equities analysts expect Editas Medicine Inc (NASDAQ:EDIT) to announce $4.11 million in sales for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Editas Medicine’s earnings, with the highest sales estimate coming in at $8.00 million and the lowest estimate coming in at $2.00 million. Editas Medicine posted sales of $14.52 million during the same quarter last year, which suggests a negative year over year growth rate of 71.7%. The business is expected to announce its next quarterly earnings report on Wednesday, November 6th.

On average, analysts expect that Editas Medicine will report full year sales of $17.45 million for the current financial year, with estimates ranging from $4.40 million to $39.03 million. For the next fiscal year, analysts expect that the business will post sales of $22.23 million, with estimates ranging from $7.53 million to $41.40 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Editas Medicine.

Editas Medicine (NASDAQ:EDIT) last announced its earnings results on Tuesday, August 6th. The company reported ($0.69) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.10). The firm had revenue of $2.33 million during the quarter, compared to analyst estimates of $6.88 million. Editas Medicine had a negative net margin of 412.70% and a negative return on equity of 45.74%. The firm’s revenue for the quarter was down 68.4% compared to the same quarter last year. During the same period last year, the company earned ($0.82) earnings per share.

A number of equities research analysts have weighed in on the company. ValuEngine upgraded Editas Medicine from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Morgan Stanley set a $29.00 price objective on shares of Editas Medicine and gave the company a “hold” rating in a research report on Friday, August 9th. Zacks Investment Research downgraded shares of Editas Medicine from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. Chardan Capital reissued a “buy” rating and set a $55.00 price objective on shares of Editas Medicine in a research report on Thursday, July 25th. Finally, BidaskClub raised shares of Editas Medicine from a “sell” rating to a “hold” rating in a research report on Friday, July 12th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $36.40.

Several institutional investors have recently made changes to their positions in the company. Nuveen Asset Management LLC acquired a new stake in Editas Medicine during the 2nd quarter worth approximately $4,545,000. D. E. Shaw & Co. Inc. lifted its position in Editas Medicine by 44.9% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 623,331 shares of the company’s stock worth $15,422,000 after acquiring an additional 193,031 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in Editas Medicine during the 2nd quarter worth approximately $1,196,000. Balyasny Asset Management LLC lifted its position in Editas Medicine by 312.2% during the 2nd quarter. Balyasny Asset Management LLC now owns 118,993 shares of the company’s stock worth $2,944,000 after acquiring an additional 90,126 shares during the period. Finally, Vanguard Group Inc. lifted its position in Editas Medicine by 9.0% during the 2nd quarter. Vanguard Group Inc. now owns 4,290,861 shares of the company’s stock worth $106,156,000 after acquiring an additional 355,256 shares during the period. 81.70% of the stock is currently owned by institutional investors and hedge funds.

EDIT traded up $0.27 during trading on Thursday, reaching $25.36. The stock had a trading volume of 518,631 shares, compared to its average volume of 840,093. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of -10.88 and a beta of 2.53. The company has a quick ratio of 8.46, a current ratio of 8.46 and a debt-to-equity ratio of 0.07. Editas Medicine has a 1-year low of $17.80 and a 1-year high of $33.80. The stock has a 50 day moving average of $24.76 and a two-hundred day moving average of $23.56.

Editas Medicine Company Profile

Editas Medicine, Inc operates as a clinical stage genome editing company. The company focuses on developing transformative genomic medicines to treat a range of serious diseases. It develops a proprietary genome editing platform based on CRISPR technology to target genetically addressable diseases and therapeutic areas.

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Earnings History and Estimates for Editas Medicine (NASDAQ:EDIT)

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