Brokerages expect that Editas Medicine Inc (NASDAQ:EDIT) will post $3.33 million in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Editas Medicine’s earnings, with estimates ranging from $1.20 million to $6.28 million. Editas Medicine reported sales of $900,000.00 in the same quarter last year, which would suggest a positive year-over-year growth rate of 270%. The company is expected to announce its next earnings report on Tuesday, March 6th.
According to Zacks, analysts expect that Editas Medicine will report full-year sales of $3.33 million for the current financial year, with estimates ranging from $11.30 million to $16.34 million. For the next year, analysts forecast that the company will post sales of $19.98 million per share, with estimates ranging from $10.00 million to $39.03 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Editas Medicine.
Several brokerages recently issued reports on EDIT. BidaskClub upgraded Editas Medicine from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, January 30th. SunTrust Banks upgraded Editas Medicine from a “hold” rating to a “buy” rating and upped their target price for the stock from $17.00 to $45.00 in a research note on Tuesday, January 23rd. CLSA began coverage on Editas Medicine in a research note on Tuesday. They set an “underperform” rating for the company. Zacks Investment Research cut Editas Medicine from a “hold” rating to a “sell” rating in a research note on Tuesday, January 9th. Finally, ValuEngine cut Editas Medicine from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $30.73.
In other news, CFO Andrew A. F. Hack sold 14,649 shares of the company’s stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $24.68, for a total transaction of $361,537.32. Following the completion of the transaction, the chief financial officer now directly owns 5,000 shares in the company, valued at $123,400. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Andrew A. F. Hack sold 5,000 shares of the company’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $24.81, for a total transaction of $124,050.00. Following the transaction, the chief financial officer now owns 5,000 shares of the company’s stock, valued at $124,050. The disclosure for this sale can be found here. Insiders have sold 84,648 shares of company stock valued at $2,687,509 over the last quarter. Company insiders own 19.40% of the company’s stock.
Large investors have recently made changes to their positions in the company. Great West Life Assurance Co. Can increased its holdings in Editas Medicine by 519.9% in the third quarter. Great West Life Assurance Co. Can now owns 4,959 shares of the company’s stock valued at $114,000 after purchasing an additional 4,159 shares during the period. Royal Bank of Canada increased its holdings in Editas Medicine by 4.1% in the second quarter. Royal Bank of Canada now owns 9,364 shares of the company’s stock valued at $157,000 after purchasing an additional 372 shares during the period. Martingale Asset Management L P acquired a new stake in Editas Medicine in the fourth quarter valued at $219,000. Plancorp LLC acquired a new stake in Editas Medicine in the fourth quarter valued at $235,000. Finally, Teacher Retirement System of Texas acquired a new stake in Editas Medicine in the fourth quarter valued at $253,000. Institutional investors own 64.52% of the company’s stock.
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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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