Wall Street analysts expect Editas Medicine Inc (NASDAQ:EDIT) to report earnings per share (EPS) of $0.04 for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Editas Medicine’s earnings, with the lowest EPS estimate coming in at ($0.89) and the highest estimate coming in at $0.69. Editas Medicine posted earnings per share of ($0.52) in the same quarter last year, which would indicate a positive year over year growth rate of 107.7%. The company is scheduled to report its next quarterly earnings results on Thursday, February 27th.
According to Zacks, analysts expect that Editas Medicine will report full year earnings of ($1.89) per share for the current year, with EPS estimates ranging from ($2.84) to ($1.25). For the next fiscal year, analysts anticipate that the firm will report earnings of ($2.99) per share, with EPS estimates ranging from ($3.34) to ($2.74). Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that follow Editas Medicine.
Editas Medicine (NASDAQ:EDIT) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.66) EPS for the quarter, beating analysts’ consensus estimates of ($0.73) by $0.07. The company had revenue of $3.90 million for the quarter, compared to analyst estimates of $4.72 million. Editas Medicine had a negative return on equity of 56.53% and a negative net margin of 842.47%. The company’s quarterly revenue was down 73.1% compared to the same quarter last year. During the same period last year, the company earned ($0.32) earnings per share.
A number of analysts have issued reports on the company. ValuEngine raised Editas Medicine from a “hold” rating to a “buy” rating in a report on Wednesday, November 27th. Zacks Investment Research upgraded Editas Medicine from a “sell” rating to a “hold” rating and set a $25.00 price target for the company in a report on Thursday, November 14th. Morgan Stanley set a $29.00 price objective on Editas Medicine and gave the company a “hold” rating in a research report on Friday, August 9th. Finally, BidaskClub upgraded shares of Editas Medicine from a “strong sell” rating to a “sell” rating in a research note on Thursday, November 28th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. Editas Medicine presently has a consensus rating of “Hold” and an average price target of $34.75.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kavar Capital Partners LLC acquired a new position in shares of Editas Medicine during the 2nd quarter worth about $25,000. Capital Investment Advisory Services LLC acquired a new position in shares of Editas Medicine during the second quarter valued at about $25,000. Tower Research Capital LLC TRC acquired a new position in shares of Editas Medicine during the third quarter valued at about $25,000. Steward Partners Investment Advisory LLC bought a new stake in shares of Editas Medicine during the second quarter worth about $27,000. Finally, BSW Wealth Partners bought a new stake in shares of Editas Medicine during the second quarter worth about $28,000. Institutional investors and hedge funds own 86.14% of the company’s stock.
Shares of NASDAQ EDIT traded up $0.42 during trading hours on Thursday, hitting $30.32. 746,823 shares of the company’s stock were exchanged, compared to its average volume of 1,059,337. The company’s 50-day moving average price is $22.84 and its 200-day moving average price is $23.41. Editas Medicine has a 1-year low of $17.80 and a 1-year high of $32.46. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of -13.01 and a beta of 2.64. The company has a debt-to-equity ratio of 0.06, a current ratio of 5.08 and a quick ratio of 5.08.
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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