Editas Medicine Inc (NASDAQ:EDIT) Expected to Post Earnings of $0.07 Per Share

Wall Street analysts expect that Editas Medicine Inc (NASDAQ:EDIT) will post $0.07 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Editas Medicine’s earnings. The lowest EPS estimate is ($0.72) and the highest is $0.69. Editas Medicine posted earnings per share of ($0.52) in the same quarter last year, which would indicate a positive year over year growth rate of 113.5%. The business is expected to issue its next earnings report on Thursday, February 27th.

On average, analysts expect that Editas Medicine will report full year earnings of ($1.78) per share for the current fiscal year, with EPS estimates ranging from ($2.57) to ($1.25). For the next fiscal year, analysts forecast that the company will report earnings of ($2.87) per share, with EPS estimates ranging from ($3.34) to ($2.26). Zacks Investment Research’s EPS averages are an average based on a survey of research firms that that provide coverage for Editas Medicine.

Editas Medicine (NASDAQ:EDIT) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.66) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.73) by $0.07. The business had revenue of $3.90 million during the quarter, compared to analyst estimates of $4.72 million. Editas Medicine had a negative net margin of 842.47% and a negative return on equity of 56.53%. The business’s revenue for the quarter was down 73.1% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.32) earnings per share.

A number of equities analysts have recently issued reports on EDIT shares. BidaskClub upgraded shares of Editas Medicine from a “sell” rating to a “hold” rating in a research report on Tuesday, December 10th. Zacks Investment Research upgraded shares of Editas Medicine from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a research report on Tuesday. ValuEngine lowered shares of Editas Medicine from a “buy” rating to a “hold” rating in a research report on Saturday, December 21st. Finally, Chardan Capital restated a “buy” rating and set a $55.00 target price on shares of Editas Medicine in a research report on Tuesday, December 10th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $37.00.

Shares of Editas Medicine stock opened at $32.51 on Friday. The business has a 50-day simple moving average of $30.54 and a 200-day simple moving average of $25.30. The company has a market cap of $1.57 billion, a PE ratio of -13.95 and a beta of 2.63. Editas Medicine has a one year low of $19.00 and a one year high of $33.01. The company has a debt-to-equity ratio of 0.06, a quick ratio of 5.08 and a current ratio of 5.08.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC acquired a new position in shares of Editas Medicine during the 3rd quarter valued at about $25,000. Steward Partners Investment Advisory LLC increased its holdings in shares of Editas Medicine by 45.5% during the 3rd quarter. Steward Partners Investment Advisory LLC now owns 1,600 shares of the company’s stock valued at $36,000 after acquiring an additional 500 shares during the last quarter. Endurance Wealth Management Inc. acquired a new position in shares of Editas Medicine during the 4th quarter valued at about $36,000. Quantamental Technologies LLC acquired a new position in shares of Editas Medicine during the 2nd quarter valued at about $45,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in shares of Editas Medicine during the 4th quarter valued at about $86,000. Institutional investors own 86.30% of the company’s stock.

About Editas Medicine

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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