Editas Medicine (NASDAQ:EDIT) PT Set at $55.00 by Chardan Capital

Chardan Capital set a $55.00 price target on Editas Medicine (NASDAQ:EDIT) in a report issued on Sunday, TipRanks reports. The firm currently has a buy rating on the stock.

Several other equities research analysts also recently weighed in on EDIT. Zacks Investment Research upgraded Editas Medicine from a hold rating to a buy rating and set a $28.00 price target on the stock in a report on Wednesday, May 1st. BidaskClub downgraded Editas Medicine from a hold rating to a sell rating in a report on Friday, June 7th. Evercore ISI began coverage on Editas Medicine in a report on Thursday, April 11th. They set an outperform rating on the stock. ValuEngine upgraded Editas Medicine from a sell rating to a hold rating in a report on Friday, March 1st. Finally, Oppenheimer restated a hold rating on shares of Editas Medicine in a report on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. Editas Medicine currently has an average rating of Hold and a consensus target price of $37.80.

Shares of NASDAQ EDIT opened at $22.70 on Friday. The company has a current ratio of 8.46, a quick ratio of 8.46 and a debt-to-equity ratio of 0.07. Editas Medicine has a 1-year low of $17.80 and a 1-year high of $41.43.

Editas Medicine (NASDAQ:EDIT) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.60) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.57) by ($0.03). Editas Medicine had a negative return on equity of 47.64% and a negative net margin of 359.93%. The company had revenue of $2.07 million for the quarter, compared to analysts’ expectations of $7.62 million. During the same quarter last year, the company earned ($0.67) EPS. Editas Medicine’s revenue for the quarter was down 47.3% compared to the same quarter last year. Sell-side analysts expect that Editas Medicine will post -2.52 earnings per share for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Winslow Evans & Crocker Inc. increased its holdings in shares of Editas Medicine by 398.7% in the 1st quarter. Winslow Evans & Crocker Inc. now owns 1,576 shares of the company’s stock valued at $40,000 after acquiring an additional 1,260 shares during the last quarter. Joseph P. Lucia & Associates LLC purchased a new position in shares of Editas Medicine in the 1st quarter valued at about $65,000. Bronfman E.L. Rothschild L.P. increased its holdings in shares of Editas Medicine by 48.7% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 3,055 shares of the company’s stock valued at $70,000 after acquiring an additional 1,000 shares during the last quarter. Amundi Pioneer Asset Management Inc. purchased a new position in shares of Editas Medicine in the 4th quarter valued at about $109,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in shares of Editas Medicine by 34.2% in the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 5,160 shares of the company’s stock valued at $113,000 after acquiring an additional 1,314 shares during the last quarter. Institutional investors and hedge funds own 75.43% of the company’s stock.

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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Analyst Recommendations for Editas Medicine (NASDAQ:EDIT)

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