Brokerages expect Editas Medicine Inc (NASDAQ:EDIT) to announce $3.33 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Editas Medicine’s earnings. The lowest sales estimate is $1.20 million and the highest is $6.28 million. Editas Medicine reported sales of $900,000.00 in the same quarter last year, which indicates a positive year-over-year growth rate of 270%. The firm is scheduled to announce its next earnings results on Tuesday, March 6th.
According to Zacks, analysts expect that Editas Medicine will report full-year sales of $3.33 million for the current financial year, with estimates ranging from $11.30 million to $16.34 million. For the next fiscal year, analysts forecast that the business will post sales of $19.98 million per share, with estimates ranging from $10.00 million to $39.03 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Editas Medicine.
Several research analysts have issued reports on the stock. Cann restated a “hold” rating on shares of Editas Medicine in a report on Friday. CLSA assumed coverage on shares of Editas Medicine in a report on Tuesday, February 13th. They set an “underperform” rating for the company. BidaskClub upgraded shares of Editas Medicine from a “buy” rating to a “strong-buy” rating in a report on Tuesday, January 30th. SunTrust Banks upgraded shares of Editas Medicine from a “hold” rating to a “buy” rating and raised their price target for the stock from $17.00 to $45.00 in a report on Tuesday, January 23rd. Finally, Zacks Investment Research lowered shares of Editas Medicine from a “hold” rating to a “sell” rating in a report on Tuesday, January 9th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $30.02.
In other news, insider Katrine Bosley sold 20,000 shares of Editas Medicine stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $38.79, for a total value of $775,800.00. Following the completion of the sale, the insider now owns 1,354,431 shares in the company, valued at approximately $52,538,378.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Andrew A. F. Hack sold 5,000 shares of Editas Medicine stock in a transaction on Friday, December 15th. The shares were sold at an average price of $24.31, for a total transaction of $121,550.00. Following the completion of the sale, the chief financial officer now owns 5,000 shares of the company’s stock, valued at approximately $121,550. The disclosure for this sale can be found here. Insiders sold a total of 92,648 shares of company stock valued at $3,052,489 in the last quarter. 19.40% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in EDIT. Schwab Charles Investment Management Inc. increased its stake in shares of Editas Medicine by 134.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 98,646 shares of the company’s stock valued at $1,656,000 after acquiring an additional 56,496 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of Editas Medicine by 72.3% in the 2nd quarter. Alliancebernstein L.P. now owns 41,700 shares of the company’s stock valued at $700,000 after acquiring an additional 17,500 shares in the last quarter. Teachers Advisors LLC increased its stake in shares of Editas Medicine by 316.7% in the 2nd quarter. Teachers Advisors LLC now owns 61,369 shares of the company’s stock valued at $1,030,000 after acquiring an additional 46,642 shares in the last quarter. TIAA CREF Investment Management LLC increased its stake in shares of Editas Medicine by 715.7% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 149,748 shares of the company’s stock valued at $2,513,000 after acquiring an additional 131,389 shares in the last quarter. Finally, Nationwide Fund Advisors increased its stake in shares of Editas Medicine by 367.0% in the 2nd quarter. Nationwide Fund Advisors now owns 19,211 shares of the company’s stock valued at $322,000 after acquiring an additional 15,097 shares in the last quarter. Institutional investors own 69.66% of the company’s stock.
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About Editas Medicine
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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