Analysts Anticipate Editas Medicine Inc (NASDAQ:EDIT) to Announce -$0.59 Earnings Per Share

Wall Street analysts forecast that Editas Medicine Inc (NASDAQ:EDIT) will post ($0.59) earnings per share for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Editas Medicine’s earnings, with the highest EPS estimate coming in at ($0.41) and the lowest estimate coming in at ($0.80). Editas Medicine reported earnings of ($0.82) per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 28%. The business is expected to announce its next earnings results on Monday, August 5th.

On average, analysts expect that Editas Medicine will report full-year earnings of ($2.52) per share for the current financial year, with EPS estimates ranging from ($3.13) to ($1.88). For the next financial year, analysts anticipate that the firm will report earnings of ($2.87) per share, with EPS estimates ranging from ($3.15) to ($2.68). Zacks’ earnings per share averages are a mean average based on a survey of research firms that that provide coverage for Editas Medicine.

Editas Medicine (NASDAQ:EDIT) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.60) EPS for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.03). Editas Medicine had a negative net margin of 359.93% and a negative return on equity of 47.64%. The firm had revenue of $2.07 million during the quarter, compared to the consensus estimate of $7.62 million. During the same quarter last year, the business posted ($0.67) earnings per share. Editas Medicine’s revenue was down 47.3% compared to the same quarter last year.



EDIT has been the subject of several research analyst reports. Oppenheimer dropped their target price on shares of 2U from $83.00 to $67.00 and set an “outperform” rating for the company in a research report on Wednesday, May 8th. BidaskClub upgraded shares of Westport Fuel Systems from a “hold” rating to a “buy” rating in a research report on Friday, July 12th. Evercore ISI initiated coverage on shares of Homology Medicines in a research report on Thursday, April 11th. They set an “outperform” rating and a $29.00 target price for the company. Chardan Capital set a $55.00 target price on shares of Editas Medicine and gave the company a “buy” rating in a research report on Sunday, June 16th. Finally, Zacks Investment Research upgraded shares of Garrett Motion from a “sell” rating to a “hold” rating in a research report on Friday, May 10th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Editas Medicine has a consensus rating of “Buy” and a consensus price target of $37.80.

Editas Medicine stock traded down $0.82 during mid-day trading on Friday, hitting $23.85. 617,512 shares of the company traded hands, compared to its average volume of 665,234. Editas Medicine has a one year low of $17.80 and a one year high of $36.70. The firm has a market capitalization of $1.17 billion, a PE ratio of -10.24 and a beta of 2.53. The company has a current ratio of 8.46, a quick ratio of 8.46 and a debt-to-equity ratio of 0.07. The business’s fifty day moving average price is $23.05.

A number of institutional investors have recently made changes to their positions in EDIT. PNC Financial Services Group Inc. lifted its position in Editas Medicine by 2,738.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 31,279 shares of the company’s stock valued at $711,000 after purchasing an additional 30,177 shares during the last quarter. California Public Employees Retirement System raised its stake in shares of Editas Medicine by 60.5% during the fourth quarter. California Public Employees Retirement System now owns 71,082 shares of the company’s stock worth $1,617,000 after acquiring an additional 26,800 shares in the last quarter. BlackRock Inc. raised its stake in shares of Editas Medicine by 2.6% during the fourth quarter. BlackRock Inc. now owns 3,681,534 shares of the company’s stock worth $83,755,000 after acquiring an additional 92,393 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Editas Medicine by 0.8% during the fourth quarter. Bank of New York Mellon Corp now owns 200,502 shares of the company’s stock worth $4,562,000 after acquiring an additional 1,651 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Editas Medicine by 0.4% during the fourth quarter. Northern Trust Corp now owns 546,239 shares of the company’s stock worth $12,426,000 after acquiring an additional 2,044 shares in the last quarter. Institutional investors and hedge funds own 75.43% of the company’s stock.

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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