Chardan Capital restated their buy rating on shares of Editas Medicine (NASDAQ:EDIT) in a research note issued to investors on Tuesday morning, AnalystRatings.com reports. They currently have a $55.00 target price on the stock.
Several other research analysts have also weighed in on the company. ValuEngine upgraded Editas Medicine from a hold rating to a buy rating in a report on Wednesday, November 27th. BidaskClub upgraded Editas Medicine from a sell rating to a hold rating in a report on Tuesday. Finally, Zacks Investment Research upgraded Editas Medicine from a sell rating to a hold rating and set a $25.00 target price on the stock in a report on Thursday, November 14th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Editas Medicine has an average rating of Buy and an average target price of $34.75.
EDIT stock traded down $0.16 during midday trading on Tuesday, hitting $29.97. 400,461 shares of the company’s stock were exchanged, compared to its average volume of 1,285,670. The stock’s fifty day moving average price is $24.91 and its 200-day moving average price is $23.83. The company has a debt-to-equity ratio of 0.06, a quick ratio of 5.08 and a current ratio of 5.08. The company has a market cap of $1.52 billion, a PE ratio of -12.86 and a beta of 2.65. Editas Medicine has a one year low of $17.80 and a one year high of $31.78.
Editas Medicine (NASDAQ:EDIT) last posted its earnings results on Tuesday, November 12th. The company reported ($0.66) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.73) by $0.07. The firm 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 revenue for the quarter was down 73.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.32) earnings per share. On average, analysts expect that Editas Medicine will post -1.89 EPS for the current year.
A number of hedge funds and other institutional investors have recently made changes to their positions in EDIT. Kavar Capital Partners LLC acquired a new position in Editas Medicine during the second quarter worth approximately $25,000. Capital Investment Advisory Services LLC acquired a new position in Editas Medicine during the second quarter worth approximately $25,000. Tower Research Capital LLC TRC acquired a new position in Editas Medicine during the third quarter worth approximately $25,000. Steward Partners Investment Advisory LLC acquired a new position in Editas Medicine during the second quarter worth approximately $27,000. Finally, BSW Wealth Partners acquired a new position in Editas Medicine during the second quarter worth approximately $28,000. 86.30% of the stock is currently owned by hedge funds and other institutional investors.
About Editas Medicine
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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