Editas Medicine, Inc. (EDIT) to Release Quarterly Earnings on Monday
Editas Medicine, Inc. (NASDAQ:EDIT) will be announcing its earnings results after the market closes on Monday, November 6th. Analysts expect the company to announce earnings of ($0.60) per share for the quarter.
Editas Medicine (NASDAQ:EDIT) last released its quarterly earnings data 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). The business had revenue of $3.10 million for the quarter, compared to analyst estimates of $2.20 million. Editas Medicine had a negative return on equity of 67.75% and a negative net margin of 2,091.36%. Editas Medicine’s revenue was down 8.8% compared to the same quarter last year. During the same quarter last year, the company earned ($0.54) EPS. On average, analysts expect Editas Medicine to post $-2.88 EPS for the current fiscal year and $-2.89 EPS for the next fiscal year.
Shares of Editas Medicine, Inc. (EDIT) opened at 22.28 on Monday. The firm’s market cap is $911.83 million. The company’s 50-day moving average is $22.87 and its 200 day moving average is $22.87. Editas Medicine, Inc. has a 1-year low of $12.43 and a 1-year high of $29.20.
Several brokerages have recently weighed in on EDIT. Oppenheimer Holdings, Inc. reiterated a “market perform” rating on shares of Editas Medicine in a research report on Tuesday, July 18th. Cann reiterated a “hold” rating on shares of Editas Medicine in a research report on Thursday, August 10th. Barclays PLC began coverage on shares of Editas Medicine in a research report on Wednesday, September 6th. They set an “overweight” rating and a $28.00 target price on the stock. 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 target price on the stock. Finally, Zacks Investment Research upgraded shares of Editas Medicine from a “sell” rating to a “hold” rating in a research report on Monday, October 16th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $25.88.
In other Editas Medicine news, insider Katrine Bosley sold 8,333 shares of the business’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $24.78, for a total value of $206,491.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders sold 51,665 shares of company stock worth $1,083,165. Company insiders own 19.40% 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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