Editas Medicine Inc (EDIT) Coverage Initiated by Analysts at Barclays PLC
Investment analysts at Barclays PLC initiated coverage on shares of Editas Medicine Inc (NASDAQ:EDIT) in a research note issued on Wednesday, Marketbeat Ratings reports. The firm set an “overweight” rating and a $28.00 price target on the stock. Barclays PLC’s price objective indicates a potential upside of 39.37% from the company’s current price.
EDIT has been the subject of several other research reports. SunTrust Banks, Inc. began coverage on shares of Editas Medicine in a research report on Thursday, July 13th. They set a “hold” rating and a $17.00 price target for the company. Oppenheimer Holdings, Inc. reiterated a “market perform” rating on shares of Editas Medicine in a research note on Tuesday, July 18th. Cann reaffirmed a “hold” rating on shares of Editas Medicine in a research note on Thursday, August 10th. Zacks Investment Research raised shares of Editas Medicine from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research note on Wednesday, July 12th. Finally, J P Morgan Chase & Co set a $27.00 price objective on shares of Editas Medicine and gave the company a “hold” rating in a research note on Wednesday, August 9th. Five equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $25.52.
Shares of Editas Medicine (EDIT) traded down 0.54% on Wednesday, hitting $20.09. The stock had a trading volume of 973,796 shares. The firm’s 50-day moving average price is $18.77 and its 200 day moving average price is $19.11. The firm’s market cap is $822.20 million. Editas Medicine has a 12 month low of $12.43 and a 12 month high of $29.20.
Editas Medicine (NASDAQ:EDIT) last released its quarterly earnings results on Wednesday, August 9th. The company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.64) by $0.01. Editas Medicine had a negative return on equity of 54.18% and a negative net margin of 853.70%. The company had revenue of $3.10 million for the quarter, compared to analyst estimates of $2.20 million. During the same quarter last year, the company earned ($0.54) EPS. The firm’s revenue for the quarter was down 8.8% on a year-over-year basis. Analysts anticipate that Editas Medicine will post ($2.88) EPS for the current fiscal year.
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In related news, CEO Katrine Bosley sold 10,000 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $20.42, for a total transaction of $204,200.00. Following the completion of the sale, the chief executive officer now owns 1,414,629 shares of the company’s stock, valued at approximately $28,886,724.18. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders have sold 43,332 shares of company stock valued at $876,673.
A number of hedge funds and other institutional investors have recently made changes to their positions in EDIT. Wells Fargo & Company MN grew its stake in Editas Medicine by 31.0% during the 1st quarter. Wells Fargo & Company MN now owns 64,980 shares of the company’s stock valued at $1,451,000 after acquiring an additional 15,361 shares in the last quarter. Henderson Group PLC purchased a new stake in Editas Medicine during the 1st quarter valued at about $1,116,000. Bank of New York Mellon Corp grew its stake in Editas Medicine by 53.3% during the 1st quarter. Bank of New York Mellon Corp now owns 63,490 shares of the company’s stock valued at $1,418,000 after acquiring an additional 22,061 shares in the last quarter. Swiss National Bank grew its stake in Editas Medicine by 33.2% during the 1st quarter. Swiss National Bank now owns 40,100 shares of the company’s stock valued at $895,000 after acquiring an additional 10,000 shares in the last quarter. Finally, TD Asset Management Inc. grew its stake in Editas Medicine by 9.0% during the 1st quarter. TD Asset Management Inc. now owns 33,770 shares of the company’s stock valued at $754,000 after acquiring an additional 2,800 shares in the last quarter. 70.17% of the stock is owned by institutional investors.
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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