$50.65 Million in Sales Expected for Editas Medicine Inc (NASDAQ:EDIT) This Quarter

Analysts predict that Editas Medicine Inc (NASDAQ:EDIT) will report sales of $50.65 million for the current quarter, according to Zacks. Three analysts have made estimates for Editas Medicine’s earnings, with the highest sales estimate coming in at $74.00 million and the lowest estimate coming in at $8.00 million. Editas Medicine reported sales of $6.12 million in the same quarter last year, which indicates a positive year-over-year growth rate of 727.6%. The company is scheduled to issue its next earnings report on Thursday, February 27th.

On average, analysts expect that Editas Medicine will report full year sales of $46.43 million for the current fiscal year, with estimates ranging from $9.03 million to $82.25 million. For the next financial year, analysts anticipate that the company will post sales of $23.48 million, with estimates ranging from $10.00 million to $41.40 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Editas Medicine.

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

Several analysts have recently commented on the company. BidaskClub upgraded Editas Medicine from a “strong sell” rating to a “sell” rating in a report on Thursday, November 28th. Morgan Stanley set a $29.00 target price on Editas Medicine and gave the stock a “hold” rating in a research note on Friday, August 9th. ValuEngine upgraded Editas Medicine from a “hold” rating to a “buy” rating in a research note on Wednesday, November 27th. Finally, Zacks Investment Research raised Editas Medicine from a “sell” rating to a “hold” rating and set a $25.00 target price on the stock in a research report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $34.75.

NASDAQ EDIT traded down $0.38 on Friday, hitting $30.39. The stock had a trading volume of 1,377,091 shares, compared to its average volume of 805,839. The business’s fifty day moving average price is $23.46 and its 200 day moving average price is $23.53. The stock has a market cap of $1.56 billion, a price-to-earnings ratio of -13.04 and a beta of 2.64. The company has a debt-to-equity ratio of 0.06, a current ratio of 5.08 and a quick ratio of 5.08. Editas Medicine has a 52-week low of $17.80 and a 52-week high of $31.78.

Institutional investors have recently modified their holdings of the business. Nikko Asset Management Americas Inc. lifted its stake in shares of Editas Medicine by 59.4% during the third quarter. Nikko Asset Management Americas Inc. now owns 4,958,593 shares of the company’s stock worth $112,758,000 after buying an additional 1,846,893 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Editas Medicine by 227.3% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,958,593 shares of the company’s stock worth $112,758,000 after acquiring an additional 3,443,666 shares during the period. ARK Investment Management LLC lifted its position in Editas Medicine by 6.3% during the 2nd quarter. ARK Investment Management LLC now owns 4,848,148 shares of the company’s stock worth $119,943,000 after acquiring an additional 288,714 shares during the period. Vanguard Group Inc. grew its stake in Editas Medicine by 9.0% during the 2nd quarter. Vanguard Group Inc. now owns 4,290,861 shares of the company’s stock valued at $106,156,000 after purchasing an additional 355,256 shares during the last quarter. Finally, BlackRock Inc. grew its stake in Editas Medicine by 2.2% during the 2nd quarter. BlackRock Inc. now owns 3,872,531 shares of the company’s stock valued at $95,805,000 after purchasing an additional 84,186 shares during the last quarter. Institutional investors and hedge funds own 86.14% 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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