Editas Medicine, Inc. (NASDAQ:EDIT) Receives Average Recommendation of “Hold” from Analysts

Shares of Editas Medicine, Inc. (NASDAQ:EDITGet Rating) have earned an average recommendation of “Hold” from the eleven ratings firms that are currently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $33.20.

Several analysts have recently weighed in on EDIT shares. Oppenheimer lowered their target price on shares of Editas Medicine from $55.00 to $28.00 in a report on Thursday, May 5th. Chardan Capital decreased their price objective on shares of Editas Medicine from $75.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, February 25th. Morgan Stanley boosted their price objective on shares of Editas Medicine from $16.00 to $17.00 and gave the stock an “underweight” rating in a report on Tuesday, April 12th. SVB Leerink decreased their price objective on shares of Editas Medicine from $41.00 to $27.00 and set a “market perform” rating on the stock in a report on Friday, February 25th. Finally, The Goldman Sachs Group decreased their price objective on shares of Editas Medicine from $10.00 to $8.00 and set a “sell” rating on the stock in a report on Tuesday, May 24th.

In other news, EVP Mark S. Shearman sold 5,145 shares of the company’s stock in a transaction on Wednesday, June 15th. The shares were sold at an average price of $10.06, for a total value of $51,758.70. Following the completion of the transaction, the executive vice president now directly owns 68,349 shares in the company, valued at $687,590.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 9,350 shares of company stock valued at $110,940 in the last three months. Company insiders own 0.94% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of America Corp DE raised its holdings in shares of Editas Medicine by 11.8% during the first quarter. Bank of America Corp DE now owns 305,029 shares of the company’s stock worth $5,802,000 after purchasing an additional 32,084 shares during the period. Quantbot Technologies LP acquired a new position in Editas Medicine during the 1st quarter valued at about $44,000. Royal Bank of Canada increased its stake in Editas Medicine by 25.6% during the 1st quarter. Royal Bank of Canada now owns 76,852 shares of the company’s stock valued at $1,461,000 after buying an additional 15,684 shares during the period. Guggenheim Capital LLC increased its stake in Editas Medicine by 27.8% during the 1st quarter. Guggenheim Capital LLC now owns 54,660 shares of the company’s stock valued at $1,040,000 after buying an additional 11,891 shares during the period. Finally, Woodline Partners LP bought a new position in shares of Editas Medicine during the 1st quarter valued at about $435,000. Hedge funds and other institutional investors own 75.48% of the company’s stock.

Shares of NASDAQ:EDIT opened at $12.09 on Thursday. The company’s fifty day moving average price is $12.54 and its 200 day moving average price is $17.99. Editas Medicine has a 12 month low of $9.59 and a 12 month high of $73.03. The firm has a market capitalization of $829.86 million, a P/E ratio of -4.43 and a beta of 2.07.

Editas Medicine (NASDAQ:EDITGet Rating) last announced its quarterly earnings results on Wednesday, May 4th. The company reported ($0.74) EPS for the quarter, topping the consensus estimate of ($0.81) by $0.07. The firm had revenue of $6.80 million for the quarter, compared to analyst estimates of $3.85 million. Editas Medicine had a negative net margin of 721.60% and a negative return on equity of 32.88%. Editas Medicine’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period last year, the business earned ($0.86) EPS. Research analysts anticipate that Editas Medicine will post -3.41 EPS for the current fiscal year.

Editas Medicine Company Profile (Get Rating)

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)

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