EDIT has been the subject of a number of other reports. Evercore ISI started coverage on Homology Medicines in a research note on Thursday, April 11th. They issued an “outperform” rating and a $29.00 price target for the company. Oppenheimer reduced their price objective on 2U from $83.00 to $67.00 and set an “outperform” rating for the company in a research note on Wednesday, May 8th. Chardan Capital set a $55.00 price objective on Editas Medicine and gave the stock a “buy” rating in a research note on Sunday, June 16th. Finally, Zacks Investment Research upgraded Garrett Motion from a “sell” rating to a “hold” rating in a research note on Friday, May 10th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Editas Medicine currently has an average rating of “Buy” and a consensus price target of $37.80.
Editas Medicine stock opened at $24.85 on Friday. The company has a 50-day simple moving average of $22.62. The company has a debt-to-equity ratio of 0.07, a quick ratio of 8.46 and a current ratio of 8.46. Editas Medicine has a one year low of $17.80 and a one year high of $38.30. The stock has a market capitalization of $1.22 billion, a PE ratio of -10.67 and a beta of 2.53.
Editas Medicine (NASDAQ:EDIT) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($0.60) EPS for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.03). Editas Medicine had a negative net margin of 359.93% and a negative return on equity of 47.64%. The business had revenue of $2.07 million during the quarter, compared to analysts’ expectations of $7.62 million. During the same quarter last year, the business posted ($0.67) earnings per share. The company’s quarterly revenue was down 47.3% compared to the same quarter last year. Equities research analysts predict that Editas Medicine will post -2.52 EPS for the current fiscal year.
A number of hedge funds have recently made changes to their positions in the stock. PNC Financial Services Group Inc. boosted its stake in Editas Medicine by 2,738.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 31,279 shares of the company’s stock worth $711,000 after buying an additional 30,177 shares during the last quarter. California Public Employees Retirement System boosted its stake in Editas Medicine by 60.5% during the fourth quarter. California Public Employees Retirement System now owns 71,082 shares of the company’s stock worth $1,617,000 after buying an additional 26,800 shares during the last quarter. BlackRock Inc. boosted its stake in Editas Medicine by 2.6% during the fourth quarter. BlackRock Inc. now owns 3,681,534 shares of the company’s stock worth $83,755,000 after buying an additional 92,393 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Editas Medicine by 0.8% during the fourth quarter. Bank of New York Mellon Corp now owns 200,502 shares of the company’s stock worth $4,562,000 after buying an additional 1,651 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in Editas Medicine by 0.4% during the fourth quarter. Northern Trust Corp now owns 546,239 shares of the company’s stock worth $12,426,000 after buying an additional 2,044 shares during the last quarter. Institutional investors own 75.43% of the company’s stock.
Editas Medicine Company Profile
Editas Medicine, Inc operates as a clinical stage genome editing company. The company focuses on developing transformative genomic medicines to treat a range of serious diseases. It develops a proprietary genome editing platform based on CRISPR technology to target genetically addressable diseases and therapeutic areas.
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