Analysts Anticipate Editas Medicine Inc (NASDAQ:EDIT) to Announce -$0.70 EPS

Equities research analysts predict that Editas Medicine Inc (NASDAQ:EDIT) will post ($0.70) earnings per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Editas Medicine’s earnings, with the highest EPS estimate coming in at ($0.61) and the lowest estimate coming in at ($0.79). Editas Medicine reported earnings per share of ($0.32) in the same quarter last year, which indicates a negative year over year growth rate of 118.8%. The company is expected to issue its next earnings report on Wednesday, November 6th.

On average, analysts expect that Editas Medicine will report full-year earnings of ($2.64) per share for the current financial year, with EPS estimates ranging from ($2.81) to ($2.19). For the next financial year, analysts anticipate that the firm will post earnings of ($2.93) per share, with EPS estimates ranging from ($3.12) to ($2.68). Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research 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) EPS for the quarter, missing the consensus estimate of ($0.59) by ($0.10). Editas Medicine had a negative return on equity of 47.46% and a negative net margin of 412.70%. The firm had revenue of $2.33 million during the quarter, compared to analyst estimates of $6.88 million. During the same quarter in the previous year, the business earned ($0.82) earnings per share. The business’s quarterly revenue was down 68.4% compared to the same quarter last year.

Several research analysts have commented on the stock. ValuEngine upgraded shares of Editas Medicine from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Chardan Capital reiterated a “buy” rating and issued a $55.00 target price on shares of Editas Medicine in a report on Thursday, July 25th. BidaskClub cut shares of Editas Medicine from a “sell” rating to a “strong sell” rating in a report on Thursday, October 10th. Finally, Morgan Stanley set a $29.00 target price on shares of Editas Medicine and gave the stock a “hold” rating in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $35.50.

Shares of EDIT opened at $20.28 on Friday. Editas Medicine has a one year low of $17.80 and a one year high of $32.46. The company has a 50-day moving average of $23.38 and a two-hundred day moving average of $24.06. The stock has a market cap of $999.71 million, a price-to-earnings ratio of -8.70 and a beta of 2.49. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.45 and a quick ratio of 4.45.

In other news, CEO Cynthia Collins sold 5,193 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $25.83, for a total value of $134,135.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.94% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of EDIT. Nikko Asset Management Americas Inc. lifted its position in shares of Editas Medicine by 319.8% in the second quarter. Nikko Asset Management Americas Inc. now owns 3,111,700 shares of the company’s stock worth $76,983,000 after purchasing an additional 2,370,395 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in Editas Medicine by 109.8% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,514,927 shares of the company’s stock valued at $37,479,000 after acquiring an additional 792,931 shares in the last quarter. Vanguard Group Inc. raised its position in Editas Medicine by 9.0% during the second quarter. Vanguard Group Inc. now owns 4,290,861 shares of the company’s stock valued at $106,156,000 after acquiring an additional 355,256 shares in the last quarter. ARK Investment Management LLC raised its position in Editas Medicine by 6.3% during the second quarter. ARK Investment Management LLC now owns 4,848,148 shares of the company’s stock valued at $119,943,000 after acquiring an additional 288,714 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. raised its position in Editas Medicine by 44.9% during the second quarter. D. E. Shaw & Co. Inc. now owns 623,331 shares of the company’s stock valued at $15,422,000 after acquiring an additional 193,031 shares in the last quarter. 79.16% of the stock is owned by institutional investors and hedge funds.

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

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