Editas Medicine (NASDAQ:EDIT) was downgraded by research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Tuesday.
Several other equities analysts have also issued reports on EDIT. Zacks Investment Research upgraded Editas Medicine from a “sell” rating to a “hold” rating in a research report on Friday, March 9th. Barclays boosted their target price on Editas Medicine from $28.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 7th. SunTrust Banks upgraded Editas Medicine from a “hold” rating to a “buy” rating and boosted their target price for the stock from $17.00 to $45.00 in a research report on Tuesday, January 23rd. Cann restated a “hold” rating on shares of Editas Medicine in a research report on Friday, February 16th. Finally, CLSA assumed coverage on Editas Medicine in a research report on Tuesday, February 13th. They set an “underperform” rating for the company. Two analysts have rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $40.02.
Editas Medicine (NASDAQ EDIT) opened at $37.30 on Tuesday. The stock has a market capitalization of $1,782.56, a PE ratio of -12.52 and a beta of 3.68. Editas Medicine has a 12-month low of $13.12 and a 12-month high of $45.02. The company has a current ratio of 9.05, a quick ratio of 9.05 and a debt-to-equity ratio of 0.16.
Editas Medicine (NASDAQ:EDIT) last posted its earnings results on Tuesday, March 6th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.75) by ($0.09). The company had revenue of $3.70 million for the quarter, compared to analyst estimates of $4.25 million. Editas Medicine had a negative return on equity of 61.92% and a negative net margin of 876.49%. Editas Medicine’s quarterly revenue was up 311.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.10) earnings per share. equities research analysts predict that Editas Medicine will post -3.3 earnings per share for the current fiscal year.
In related news, CEO Katrine Bosley sold 8,333 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $36.18, for a total value of $301,487.94. Following the completion of the transaction, the chief executive officer now directly owns 1,338,898 shares in the company, valued at approximately $48,441,329.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Andrew A. F. Hack sold 18,000 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $34.21, for a total value of $615,780.00. The disclosure for this sale can be found here. Insiders sold a total of 82,133 shares of company stock valued at $3,031,597 over the last quarter. 19.40% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of EDIT. Great West Life Assurance Co. Can grew its position in shares of 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 purchasing an additional 4,159 shares during the period. Glenmede Trust Co. NA acquired a new position in Editas Medicine during the 4th quarter worth approximately $153,000. Royal Bank of Canada boosted its position in Editas Medicine by 4.1% during the 2nd quarter. Royal Bank of Canada now owns 9,364 shares of the company’s stock worth $157,000 after acquiring an additional 372 shares during the last quarter. Martingale Asset Management L P acquired a new position in Editas Medicine during the 4th quarter worth approximately $219,000. Finally, Plancorp LLC acquired a new position in Editas Medicine during the 4th quarter worth approximately $235,000. Institutional investors and hedge funds own 64.49% 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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