Editas Medicine Inc (EDIT) Given Consensus Rating of “Hold” by Analysts

Editas Medicine Inc (NASDAQ:EDIT) has been assigned a consensus recommendation of “Hold” from the thirteen research firms that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $31.69.

Several brokerages have recently weighed in on EDIT. SunTrust Banks upgraded shares of Editas Medicine from a “hold” rating to a “buy” rating and increased their price objective for the stock from $17.00 to $45.00 in a research note on Tuesday, January 23rd. Zacks Investment Research cut shares of Editas Medicine from a “hold” rating to a “sell” rating in a research note on Tuesday, January 9th. BidaskClub upgraded shares of Editas Medicine from a “hold” rating to a “buy” rating in a research note on Wednesday, December 27th. ValuEngine cut shares of Editas Medicine from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. Finally, Cann reiterated a “hold” rating on shares of Editas Medicine in a research note on Tuesday, November 7th.

In other Editas Medicine news, insider Katrine Bosley sold 3,338 shares of the firm’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $35.28, for a total transaction of $117,764.64. Following the sale, the insider now owns 1,364,431 shares in the company, valued at approximately $48,137,125.68. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Andrew A. F. Hack sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $25.35, for a total transaction of $126,750.00. Following the sale, the chief financial officer now owns 5,000 shares in the company, valued at approximately $126,750. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 64,648 shares of company stock worth $1,807,213. 19.40% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EDIT. Schwab Charles Investment Management Inc. raised its stake in Editas Medicine by 134.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 98,646 shares of the company’s stock worth $1,656,000 after acquiring an additional 56,496 shares during the period. Rhumbline Advisers bought a new stake in Editas Medicine during the 2nd quarter worth approximately $549,000. Bank of New York Mellon Corp raised its stake in Editas Medicine by 123.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 142,122 shares of the company’s stock worth $2,385,000 after acquiring an additional 78,632 shares during the period. Legal & General Group Plc raised its stake in Editas Medicine by 308.4% during the 2nd quarter. Legal & General Group Plc now owns 8,654 shares of the company’s stock worth $145,000 after acquiring an additional 6,535 shares during the period. Finally, Alliancebernstein L.P. raised its stake in Editas Medicine by 72.3% during the 2nd quarter. Alliancebernstein L.P. now owns 41,700 shares of the company’s stock worth $700,000 after acquiring an additional 17,500 shares during the period. Institutional investors own 64.54% of the company’s stock.

Editas Medicine (EDIT) opened at $35.96 on Friday. Editas Medicine has a one year low of $13.12 and a one year high of $37.36. The company has a quick ratio of 10.12, a current ratio of 10.12 and a debt-to-equity ratio of 0.19. The firm has a market cap of $1,670.00 and a P/E ratio of -11.10.

Editas Medicine (NASDAQ:EDIT) last issued its quarterly earnings data on Tuesday, November 7th. The company reported ($0.64) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.60) by ($0.04). Editas Medicine had a negative return on equity of 70.19% and a negative net margin of 1,127.03%. The business had revenue of $6.28 million during the quarter, compared to the consensus estimate of $2.66 million. During the same quarter last year, the company earned ($0.59) EPS. Editas Medicine’s revenue for the quarter was up 553.0% on a year-over-year basis. research analysts expect that Editas Medicine will post -2.92 earnings per share for the current fiscal year.

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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.

Analyst Recommendations for Editas Medicine (NASDAQ:EDIT)

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