Equities analysts expect Editas Medicine, Inc. (NASDAQ:EDIT) to announce earnings of ($0.79) per share for the current quarter, Zacks reports. Three analysts have provided estimates for Editas Medicine’s earnings. The highest EPS estimate is ($0.62) and the lowest is ($1.36). Editas Medicine posted earnings of ($1.10) per share in the same quarter last year, which indicates a positive year-over-year growth rate of 28.2%. The business is scheduled to announce its next quarterly earnings report on Tuesday, March 6th.
On average, analysts expect that Editas Medicine will report full-year earnings of ($2.92) per share for the current fiscal year, with EPS estimates ranging from ($3.51) to ($2.74). For the next fiscal year, analysts forecast that the business will report earnings of ($2.98) per share, with EPS estimates ranging from ($4.33) to ($2.23). Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that cover Editas Medicine.
Editas Medicine (NASDAQ:EDIT) last announced its quarterly earnings results on Tuesday, November 7th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.04). The company had revenue of $6.28 million for the quarter, compared to analyst estimates of $2.66 million. Editas Medicine had a negative return on equity of 70.19% and a negative net margin of 1,127.03%. The firm’s quarterly revenue was up 553.0% on a year-over-year basis. During the same quarter last year, the company posted ($0.59) earnings per share.
Several equities research analysts have recently issued reports on EDIT shares. Cann restated a “hold” rating on shares of Editas Medicine in a research note on Thursday, August 10th. J P Morgan Chase & Co set a $27.00 target price on shares of Editas Medicine and gave the stock a “hold” rating in a research report on Wednesday, August 9th. Barclays PLC initiated coverage on shares of Editas Medicine in a research report on Wednesday, September 6th. They issued an “overweight” rating and a $28.00 price objective on the stock. ValuEngine raised shares of Editas Medicine from a “sell” rating to a “hold” rating in a research note on Saturday, September 30th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $28.00 price objective (up from $27.00) on shares of Editas Medicine in a report on Friday, October 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $26.73.
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Editas Medicine (EDIT) traded up $0.49 on Friday, hitting $25.95. 787,517 shares of the company were exchanged, compared to its average volume of 914,436. The company has a current ratio of 10.12, a quick ratio of 10.12 and a debt-to-equity ratio of 0.19. Editas Medicine has a 12 month low of $13.12 and a 12 month high of $29.20.
In related news, CEO Katrine Bosley sold 10,000 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $20.42, for a total transaction of $204,200.00. Following the completion of the sale, the chief executive officer now directly owns 1,414,629 shares of the company’s stock, valued at $28,886,724.18. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Andrew A. F. Hack sold 5,000 shares of the stock in a transaction on Friday, November 17th. The stock was sold at an average price of $24.81, for a total value of $124,050.00. Following the completion of the transaction, the chief financial officer now owns 5,000 shares of the company’s stock, valued at approximately $124,050. The disclosure for this sale can be found here. Insiders sold 53,332 shares of company stock worth $1,197,304 over the last quarter. 19.40% of the stock is currently owned by insiders.
A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Editas Medicine by 12.5% during the 2nd quarter. Vanguard Group Inc. now owns 2,177,146 shares of the company’s stock worth $36,533,000 after purchasing an additional 241,973 shares in the last quarter. State Street Corp boosted its stake in Editas Medicine by 305.4% in the 2nd quarter. State Street Corp now owns 537,640 shares of the company’s stock worth $9,022,000 after buying an additional 405,022 shares during the last quarter. Ark Investment Management LLC boosted its stake in Editas Medicine by 121.9% in the 2nd quarter. Ark Investment Management LLC now owns 510,187 shares of the company’s stock worth $8,561,000 after buying an additional 280,265 shares during the last quarter. Northern Trust Corp boosted its stake in Editas Medicine by 245.9% in the 2nd quarter. Northern Trust Corp now owns 373,149 shares of the company’s stock worth $6,261,000 after buying an additional 265,273 shares during the last quarter. Finally, American Century Companies Inc. acquired a new stake in Editas Medicine in the 3rd quarter worth about $7,497,000. Hedge funds and other institutional investors own 69.35% 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.
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