Zacks: Brokerages Expect Editas Medicine Inc (EDIT) to Announce -$0.72 EPS

Wall Street analysts predict that Editas Medicine Inc (NASDAQ:EDIT) will post earnings per share of ($0.72) for the current quarter, Zacks reports. Four analysts have made estimates for Editas Medicine’s earnings. The highest EPS estimate is ($0.39) and the lowest is ($0.91). Editas Medicine reported earnings per share of ($0.64) in the same quarter last year, which indicates a negative year-over-year growth rate of 12.5%. The company is expected to issue its next earnings report on Tuesday, November 6th.

According to Zacks, analysts expect that Editas Medicine will report full year earnings of ($3.00) per share for the current financial year, with EPS estimates ranging from ($3.32) to ($2.55). For the next financial year, analysts forecast that the firm will post earnings of ($3.36) per share, with EPS estimates ranging from ($4.26) to ($2.90). Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that that provide coverage for Editas Medicine.

Editas Medicine (NASDAQ:EDIT) last posted its quarterly earnings data on Monday, August 6th. The company reported ($0.82) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.15). The firm had revenue of $7.37 million for the quarter, compared to analysts’ expectations of $7.01 million. Editas Medicine had a negative net margin of 623.35% and a negative return on equity of 61.27%. The firm’s revenue was up 137.7% compared to the same quarter last year. During the same quarter last year, the company posted ($0.65) EPS.

A number of analysts recently commented on EDIT shares. BidaskClub upgraded Editas Medicine from a “sell” rating to a “hold” rating in a research report on Tuesday, August 21st. Raymond James initiated coverage on Editas Medicine in a research report on Friday, September 21st. They issued an “outperform” rating and a $40.00 price target for the company. Zacks Investment Research cut Editas Medicine from a “buy” rating to a “hold” rating in a research report on Thursday, August 9th. JPMorgan Chase & Co. set a $36.00 price target on Editas Medicine and gave the stock a “hold” rating in a research report on Monday, August 6th. Finally, Guggenheim initiated coverage on Editas Medicine in a research report on Tuesday. They issued a “neutral” rating for the company. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $46.50.

In related news, insider Vickesh Myer sold 14,000 shares of the stock in a transaction dated Wednesday, July 18th. The stock was sold at an average price of $35.63, for a total transaction of $498,820.00. Following the completion of the sale, the insider now owns 3,000 shares in the company, valued at $106,890. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Andrew A. F. Hack sold 10,000 shares of the stock in a transaction dated Friday, August 31st. The stock was sold at an average price of $32.23, for a total value of $322,300.00. Following the sale, the chief financial officer now owns 10,000 shares of the company’s stock, valued at approximately $322,300. The disclosure for this sale can be found here. In the last 90 days, insiders sold 86,333 shares of company stock valued at $2,751,900. Company insiders own 5.20% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the stock. Rothschild Investment Corp IL grew its position in shares of Editas Medicine by 22.2% during the second quarter. Rothschild Investment Corp IL now owns 9,350 shares of the company’s stock worth $335,000 after purchasing an additional 1,700 shares in the last quarter. Voya Investment Management LLC grew its position in shares of Editas Medicine by 13.4% during the second quarter. Voya Investment Management LLC now owns 17,849 shares of the company’s stock worth $640,000 after purchasing an additional 2,110 shares in the last quarter. California State Teachers Retirement System grew its position in shares of Editas Medicine by 4.1% during the first quarter. California State Teachers Retirement System now owns 56,489 shares of the company’s stock worth $1,873,000 after purchasing an additional 2,201 shares in the last quarter. New York State Common Retirement Fund grew its position in shares of Editas Medicine by 7.0% during the first quarter. New York State Common Retirement Fund now owns 45,593 shares of the company’s stock worth $1,511,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY grew its position in shares of Editas Medicine by 27.2% during the second quarter. Metropolitan Life Insurance Co. NY now owns 14,946 shares of the company’s stock worth $536,000 after purchasing an additional 3,192 shares in the last quarter. Hedge funds and other institutional investors own 67.18% of the company’s stock.

Editas Medicine stock opened at $27.32 on Wednesday. The firm has a market cap of $1.52 billion, a P/E ratio of -9.17 and a beta of 3.37. The company has a debt-to-equity ratio of 0.14, a current ratio of 14.50 and a quick ratio of 14.50. Editas Medicine has a one year low of $20.29 and a one year high of $45.02.

Editas Medicine Company Profile

Editas Medicine, Inc operates as a genome editing company. It focuses on treating patients with genetically defined diseases by correcting their disease causing genes. The company develops a proprietary genome editing platform based on CRISPR technology to target genetically defined diseases with an initial focus on debilitating illnesses where there are no approved treatments.

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