Wall Street analysts expect Editas Medicine Inc (NASDAQ:EDIT) to report sales of $1.08 million for the current quarter, according to Zacks. Two analysts have issued estimates for Editas Medicine’s earnings, with estimates ranging from $900,000.00 to $1.25 million. Editas Medicine posted sales of $810,000.00 during the same quarter last year, which suggests a positive year over year growth rate of 33.3%. The company is expected to announce its next earnings report on Monday, May 15th.
On average, analysts expect that Editas Medicine will report full year sales of $1.08 million for the current fiscal year, with estimates ranging from $3.6 million to $5 million. For the next fiscal year, analysts anticipate that the company will post sales of $4.3 million per share, with estimates ranging from $3.6 million to $5 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that cover Editas Medicine.
Editas Medicine (NASDAQ:EDIT) last announced its quarterly earnings results on Tuesday, March 7th. The company reported ($1.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.62) by $0.48. Editas Medicine had a negative return on equity of 59.22% and a negative net margin of 1,184.46%. The company earned $0.90 million during the quarter, compared to analyst estimates of $1.11 million. During the same period in the prior year, the firm earned ($4.05) EPS.
Several analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Editas Medicine from a “sell” rating to a “hold” rating in a research note on Tuesday, March 28th. Chardan Capital assumed coverage on shares of Editas Medicine in a research note on Monday, March 27th. They issued a “buy” rating on the stock. Vetr upgraded shares of Editas Medicine from a “buy” rating to a “strong-buy” rating and set a $27.14 target price on the stock in a research note on Monday, March 20th. Cowen and Company reiterated a “buy” rating on shares of Editas Medicine in a research note on Wednesday, March 15th. Finally, JPMorgan Chase & Co. set a $32.00 target price on shares of Editas Medicine and gave the stock a “hold” rating in a research note on Wednesday, March 8th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $27.79.
In other Editas Medicine news, CFO Andrew A. F. Hack sold 3,000 shares of the stock in a transaction that occurred on Wednesday, February 15th. The shares were sold at an average price of $19.20, for a total value of $57,600.00. Following the sale, the chief financial officer now directly owns 3,000 shares in the company, valued at approximately $57,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Alexandra Glucksmann sold 1,000 shares of the stock in a transaction that occurred on Wednesday, March 15th. The stock was sold at an average price of $26.41, for a total transaction of $26,410.00. Following the completion of the sale, the chief operating officer now owns 118,788 shares in the company, valued at $3,137,191.08. The disclosure for this sale can be found here. Insiders sold a total of 10,000 shares of company stock worth $207,490 over the last quarter.
Hedge funds have recently bought and sold shares of the stock. Barrett Asset Management LLC bought a new stake in Editas Medicine during the first quarter valued at $223,000. Fox Run Management L.L.C. bought a new stake in Editas Medicine during the first quarter valued at $272,000. Russell Investments Group Ltd. bought a new stake in Editas Medicine during the fourth quarter valued at $284,000. Victory Capital Management Inc. bought a new stake in Editas Medicine during the third quarter valued at $299,000. Finally, A.R.T. Advisors LLC bought a new stake in Editas Medicine during the fourth quarter valued at $417,000. Hedge funds and other institutional investors own 60.89% of the company’s stock.
Shares of Editas Medicine (NASDAQ:EDIT) traded down 2.99% during mid-day trading on Friday, hitting $18.85. The company’s stock had a trading volume of 525,218 shares. The stock’s market cap is $675.58 million. The company has a 50-day moving average price of $21.22 and a 200-day moving average price of $18.38. Editas Medicine has a 1-year low of $12.43 and a 1-year high of $38.25.
Editas Medicine Company Profile
Editas Medicine, Inc is a genome editing company. It is engaged in treating patients with genetically defined diseases by correcting their disease-causing genes. It operates through developing and commercializing genome editing technology segment. It is developing a genome editing platform based on clustered, regularly interspaced short palindromic repeats (CRISPR) technology.
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