Zacks: Analysts Expect Editas Medicine Inc (EDIT) to Announce -$0.79 Earnings Per Share

Equities research analysts predict that Editas Medicine Inc (NASDAQ:EDIT) will report earnings per share of ($0.79) for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Editas Medicine’s earnings, with the highest EPS estimate coming in at ($0.62) and the lowest estimate coming in at ($1.36). Editas Medicine posted earnings per share of ($1.10) in the same quarter last year, which suggests a positive year over year growth rate of 28.2%. The company is expected to announce its next quarterly earnings report on Tuesday, March 6th.

According to Zacks, analysts expect that Editas Medicine will report full-year earnings of ($2.92) per share for the current fiscal year, with EPS estimates ranging from ($3.51) to ($2.74). For the next year, analysts expect that the company will report earnings of ($3.01) per share, with EPS estimates ranging from ($4.33) to ($2.36). Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that follow Editas Medicine.

EDIT has been the subject of a number of recent analyst reports. ValuEngine downgraded shares of Editas Medicine from a “hold” rating to a “sell” rating in a research report on Friday, December 1st. BidaskClub raised shares of Editas Medicine from a “hold” rating to a “buy” rating in a research report on Wednesday, December 27th. Zacks Investment Research downgraded shares of Editas Medicine from a “buy” rating to a “hold” rating in a research report on Monday, November 13th. SunTrust Banks upgraded Editas Medicine from a “hold” rating to a “buy” rating and increased their price target for the stock from $17.00 to $45.00 in a report on Tuesday, January 23rd. Finally, Cowen restated a “buy” rating on shares of Editas Medicine in a report on Tuesday, November 7th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $30.73.

In related news, insider Katrine Bosley sold 8,333 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $29.58, for a total value of $246,490.14. Following the transaction, the insider now directly owns 1,387,897 shares in the company, valued at approximately $41,053,993.26. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Andrew A. F. Hack sold 5,000 shares of the stock in a transaction on Friday, December 15th. The shares were sold at an average price of $24.31, for a total value of $121,550.00. Following the completion of the sale, the chief financial officer now directly owns 5,000 shares of the company’s stock, valued at $121,550. The disclosure for this sale can be found here. Over the last quarter, insiders sold 84,648 shares of company stock worth $2,687,509. 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. Great West Life Assurance Co. Can raised its position in Editas Medicine by 519.9% in the 3rd quarter. Great West Life Assurance Co. Can now owns 4,959 shares of the company’s stock valued at $114,000 after buying an additional 4,159 shares during the last quarter. Legal & General Group Plc raised its position in Editas Medicine by 308.4% in the 2nd quarter. Legal & General Group Plc now owns 8,654 shares of the company’s stock valued at $145,000 after buying an additional 6,535 shares during the last quarter. Royal Bank of Canada raised its position in Editas Medicine by 4.1% in the 2nd quarter. Royal Bank of Canada now owns 9,364 shares of the company’s stock valued at $157,000 after buying an additional 372 shares during the last quarter. Plancorp LLC purchased a new stake in shares of Editas Medicine during the 4th quarter valued at $235,000. Finally, Teacher Retirement System of Texas purchased a new stake in shares of Editas Medicine during the 4th quarter valued at $253,000. 64.52% of the stock is owned by institutional investors and hedge funds.

Shares of Editas Medicine (NASDAQ EDIT) opened at $33.69 on Monday. The firm has a market cap of $1,528.27, a P/E ratio of -10.40 and a beta of 4.79. The company has a current ratio of 10.12, a quick ratio of 10.12 and a debt-to-equity ratio of 0.19. Editas Medicine has a 52-week low of $13.12 and a 52-week high of $41.60.

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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.

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Earnings History and Estimates for Editas Medicine (NASDAQ:EDIT)

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