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Editas Medicine, Inc. (NASDAQ:EDIT – Get Rating) has been assigned an average rating of “Hold” from the eleven analysts that are covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $20.80.

A number of research analysts recently issued reports on the company. SVB Leerink reduced their price objective on Editas Medicine from $14.00 to $12.00 and set a “market perform” rating for the company in a research report on Thursday, November 3rd. Robert W. Baird reduced their price objective on Editas Medicine from $30.00 to $25.00 and set an “outperform” rating for the company in a research report on Thursday, November 3rd. Royal Bank of Canada reduced their price objective on Editas Medicine from $40.00 to $32.00 and set a “sector perform” rating for the company in a research report on Thursday, November 3rd. Chardan Capital reduced their price objective on Editas Medicine from $60.00 to $43.00 and set a “buy” rating for the company in a research report on Wednesday, November 2nd. Finally, Bank of America assumed coverage on Editas Medicine in a research report on Thursday, September 29th. They set a “neutral” rating and a $18.00 price objective for the company.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Covestor Ltd raised its stake in shares of Editas Medicine by 9,693.3% in the 1st quarter. Covestor Ltd now owns 1,469 shares of the company’s stock worth $28,000 after buying an additional 1,454 shares in the last quarter. Total Clarity Wealth Management Inc. bought a new stake in shares of Editas Medicine in the 2nd quarter worth $27,000. Quantbot Technologies LP bought a new stake in shares of Editas Medicine in the 1st quarter worth $44,000. Russell Investments Group Ltd. bought a new stake in shares of Editas Medicine in the 2nd quarter worth $32,000. Finally, Great West Life Assurance Co. Can bought a new stake in shares of Editas Medicine in the 3rd quarter worth $48,000. Institutional investors and hedge funds own 68.77% of the company’s stock.

Editas Medicine Trading Up 6.5 %

Shares of EDIT opened at $13.21 on Friday. The firm has a market cap of $908.32 million, a price-to-earnings ratio of -4.49 and a beta of 1.96. The stock has a 50 day moving average of $12.91 and a 200-day moving average of $13.60. Editas Medicine has a 52 week low of $9.59 and a 52 week high of $38.57.

Editas Medicine (NASDAQ:EDIT – Get Rating) last issued its earnings results on Wednesday, November 2nd. The company reported ($0.81) EPS for the quarter, topping the consensus estimate of ($0.87) by $0.06. Editas Medicine had a negative return on equity of 41.33% and a negative net margin of 784.32%. The company had revenue of $0.04 million during the quarter, compared to analyst estimates of $5.86 million. On average, sell-side analysts predict that Editas Medicine will post -3.23 earnings per share for the current fiscal year.

Editas Medicine Company Profile

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Editas Medicine, Inc, a clinical stage genome editing company, focuses on developing transformative genomic medicines to treat a range of serious diseases. It develops a proprietary gene editing platform based on CRISPR technology. The company develops EDIT-101, which is in Phase 1/2 clinical trial for Leber Congenital Amaurosis 10 that leads to inherited childhood blindness.

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Analyst Recommendations for Editas Medicine (NASDAQ:EDIT)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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