Cann started coverage on shares of Editas Medicine, Inc. (NASDAQ:EDIT) in a research note released on Monday morning. The firm issued a market perform rating on the stock.
“We are initiating coverage of Editas Medicine, a development-stage biotechnology platform company, with a Perform rating. Editas is developing gene editing therapies for the treatment of various human diseases. Its gene editing system, CRISPR, utilizes short sequences of RNA to guide a DNA cutting enzyme (DNA nuclease) to cut specific sequences of DNA. We anticipate Editas Medicine will continue to form collaborations for its CRISPR technology and advance its current collaborations into later stages of development.”,” the firm’s analyst wrote.
Other analysts have also issued reports about the stock. Chardan Capital began coverage on shares of Editas Medicine in a research note on Monday, March 27th. They set a buy rating for the company. SunTrust Banks, Inc. began coverage on shares of Editas Medicine in a research note on Thursday, July 13th. They set a hold rating and a $17.00 price objective for the company. Vetr raised shares of Editas Medicine from a buy rating to a strong-buy rating and set a $27.14 price objective for the company in a research note on Monday, March 20th. Finally, Zacks Investment Research raised shares of Editas Medicine from a hold rating to a buy rating and set a $19.00 price objective for the company in a research note on Wednesday, July 12th. Five analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $26.03.
Shares of Editas Medicine (NASDAQ EDIT) opened at 15.87 on Monday. Editas Medicine has a one year low of $12.43 and a one year high of $29.20. The stock’s 50 day moving average is $16.38 and its 200-day moving average is $19.15. The stock’s market capitalization is $646.37 million.
Editas Medicine (NASDAQ:EDIT) last posted its quarterly earnings data on Monday, May 15th. The company reported ($0.85) EPS for the quarter, missing analysts’ consensus estimates of ($0.62) by $0.23. Editas Medicine had a negative net margin of 1,864.00% and a negative return on equity of 63.29%. The firm had revenue of $0.68 million for the quarter, compared to analysts’ expectations of $1 million. During the same period in the prior year, the company posted ($0.80) earnings per share. Editas Medicine’s quarterly revenue was down 16.0% compared to the same quarter last year. On average, equities research analysts expect that Editas Medicine will post ($3.05) EPS for the current year.
TRADEMARK VIOLATION NOTICE: “Cann Begins Coverage on Editas Medicine, Inc. (NASDAQ:EDIT)” was originally reported by StockNewsTimes and is the sole property of of StockNewsTimes. If you are accessing this news story on another website, it was copied illegally and reposted in violation of United States and international trademark & copyright law. The original version of this news story can be read at https://stocknewstimes.com/2017/07/20/cann-begins-coverage-on-editas-medicine-inc-nasdaqedit.html.
In other Editas Medicine news, insider Gerald Frank Cox bought 4,000 shares of the company’s stock in a transaction dated Friday, June 2nd. The shares were bought at an average price of $14.15 per share, for a total transaction of $56,600.00. Following the acquisition, the insider now directly owns 4,000 shares of the company’s stock, valued at $56,600. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kevin Bitterman sold 1,000,000 shares of the company’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $17.00, for a total value of $17,000,000.00. The disclosure for this sale can be found here.
Several institutional investors have recently modified their holdings of the stock. Victory Capital Management Inc. increased its position in shares of Editas Medicine by 90.6% in the first quarter. Victory Capital Management Inc. now owns 42,272 shares of the company’s stock worth $944,000 after buying an additional 20,092 shares in the last quarter. Trexquant Investment LP acquired a new position in shares of Editas Medicine during the first quarter worth $542,000. TD Asset Management Inc. increased its position in shares of Editas Medicine by 9.0% in the first quarter. TD Asset Management Inc. now owns 33,770 shares of the company’s stock worth $754,000 after buying an additional 2,800 shares in the last quarter. Swiss National Bank increased its position in shares of Editas Medicine by 33.2% in the first quarter. Swiss National Bank now owns 40,100 shares of the company’s stock worth $895,000 after buying an additional 10,000 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Editas Medicine by 53.3% in the first quarter. Bank of New York Mellon Corp now owns 63,490 shares of the company’s stock worth $1,418,000 after buying an additional 22,061 shares in the last quarter. Institutional investors own 67.47% of the company’s stock.
Editas Medicine Company Profile
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.
Receive News & Ratings for Editas Medicine Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Editas Medicine Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
