Editas Medicine, Inc. (EDIT) Receives Average Recommendation of “Buy” from Analysts
Editas Medicine, Inc. (NASDAQ:EDIT) has been given a consensus rating of “Buy” by the six research firms that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $31.38.
A number of equities analysts recently commented on EDIT shares. Cowen and Company reiterated a “buy” rating on shares of Editas Medicine in a research report on Wednesday, March 15th. Zacks Investment Research upgraded shares of Editas Medicine from a “sell” rating to a “hold” rating in a research report on Tuesday, March 28th. Jefferies Group LLC reiterated a “buy” rating and issued a $35.00 target price on shares of Editas Medicine in a research report on Wednesday, February 15th. J P Morgan Chase & Co set a $32.00 target price on shares of Editas Medicine and gave the stock a “hold” rating in a research report on Wednesday, March 8th. Finally, 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 report on Monday, March 20th.
Editas Medicine (NASDAQ EDIT) traded up 0.44% during mid-day trading on Tuesday, reaching $16.14. The company had a trading volume of 195,035 shares. The firm has a 50-day moving average price of $17.50 and a 200 day moving average price of $19.03. Editas Medicine has a 12-month low of $12.43 and a 12-month high of $32.67. The firm’s market capitalization is $657.37 million.
Editas Medicine (NASDAQ:EDIT) last issued its earnings results on Monday, May 15th. The company reported ($0.85) EPS for the quarter, missing analysts’ consensus estimates of ($0.62) by $0.23. The business had revenue of $0.68 million during the quarter, compared to analysts’ expectations of $1 million. Editas Medicine had a negative return on equity of 63.29% and a negative net margin of 1,864.00%. Editas Medicine’s revenue for the quarter was down 16.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.80) EPS. Analysts expect that Editas Medicine will post ($2.74) EPS for the current year.
In other news, insider Gerald Frank Cox acquired 4,000 shares of the firm’s stock in a transaction on Friday, June 2nd. The shares were purchased at an average price of $14.15 per share, for a total transaction of $56,600.00. Following the completion of the transaction, the insider now owns 4,000 shares of the company’s stock, valued at $56,600. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kevin Bitterman sold 1,000,000 shares of the business’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $17.00, for a total transaction of $17,000,000.00. The disclosure for this sale can be found here.
Institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. purchased a new position in Editas Medicine during the fourth quarter worth about $284,000. State Street Corp boosted its position in Editas Medicine by 2.4% in the fourth quarter. State Street Corp now owns 105,167 shares of the company’s stock worth $1,708,000 after buying an additional 2,476 shares during the last quarter. Norges Bank purchased a new position in Editas Medicine during the fourth quarter worth about $1,479,000. Trexquant Investment LP purchased a new position in Editas Medicine during the first quarter worth about $542,000. Finally, Cim Investment Mangement Inc. purchased a new position in Editas Medicine during the first quarter worth about $572,000. Hedge funds and other institutional investors own 67.36% of the company’s stock.
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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