Oppenheimer Holdings, Inc. reiterated their market perform rating on shares of Editas Medicine, Inc. (NASDAQ:EDIT) in a report published on Tuesday, July 18th. Oppenheimer Holdings also issued estimates for Editas Medicine’s FY2017 earnings at ($3.90) EPS, FY2018 earnings at ($4.91) EPS, FY2019 earnings at ($5.52) EPS, FY2020 earnings at ($6.53) EPS and FY2021 earnings at ($5.37) EPS.
A number of other research analysts also recently weighed in on EDIT. Chardan Capital started coverage on shares of Editas Medicine in a research report on Monday, March 27th. They set a buy rating on the stock. SunTrust Banks, Inc. started coverage on shares of Editas Medicine in a research report on Thursday, July 13th. They set a hold rating and a $17.00 price objective on the stock. Vetr upgraded shares of Editas Medicine from a buy rating to a strong-buy rating and set a $27.14 price objective on the stock in a research report on Monday, March 20th. Cann initiated coverage on shares of Editas Medicine in a report on Monday, July 17th. They set a market perform rating for the company. Finally, Zacks Investment Research raised shares of Editas Medicine from a hold rating to a buy rating and set a $19.00 target price for the company in a report on Wednesday, July 12th. Five equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $25.03.
Shares of Editas Medicine (EDIT) traded up 11.31% during trading on Tuesday, reaching $21.95. 1,767,150 shares of the company traded hands. The stock’s market capitalization is $898.33 million. Editas Medicine has a 12-month low of $12.43 and a 12-month high of $29.20. The firm’s 50 day moving average is $17.20 and its 200-day moving average is $19.02.
Editas Medicine (NASDAQ:EDIT) last issued its earnings results on Wednesday, August 9th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.64) by $0.01. The firm had revenue of $3.10 million during the quarter, compared to the consensus estimate of $2.20 million. Editas Medicine had a negative return on equity of 69.21% and a negative net margin of 2,091.36%. The company’s quarterly revenue was down 8.8% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.54) EPS. On average, equities research analysts anticipate that Editas Medicine will post ($2.84) earnings per share for the current fiscal year.
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In other Editas Medicine news, Director Kevin Bitterman sold 1,000,000 shares of the stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $17.00, for a total transaction of $17,000,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Boris Nikolic acquired 35,000 shares of the stock in a transaction on Friday, June 2nd. The shares were acquired at an average price of $14.07 per share, with a total value of $492,450.00. Following the transaction, the director now directly owns 35,000 shares of the company’s stock, valued at $492,450. The disclosure for this purchase can be found here.
Institutional investors have recently added to or reduced their stakes in the stock. State Street Corp raised its stake in Editas Medicine by 2.4% in the fourth quarter. State Street Corp now owns 105,167 shares of the company’s stock valued at $1,708,000 after buying an additional 2,476 shares during the period. Bank of America Corp DE raised its stake in Editas Medicine by 72.2% in the first quarter. Bank of America Corp DE now owns 5,936 shares of the company’s stock valued at $133,000 after buying an additional 2,489 shares during the period. TD Asset Management Inc. raised its stake in Editas Medicine by 9.0% in the first quarter. TD Asset Management Inc. now owns 33,770 shares of the company’s stock valued at $754,000 after buying an additional 2,800 shares during the period. Schwab Charles Investment Management Inc. raised its stake in Editas Medicine by 8.4% in the first quarter. Schwab Charles Investment Management Inc. now owns 42,150 shares of the company’s stock valued at $941,000 after buying an additional 3,249 shares during the period. Finally, ProShare Advisors LLC raised its stake in Editas Medicine by 18.9% in the second quarter. ProShare Advisors LLC now owns 24,211 shares of the company’s stock valued at $406,000 after buying an additional 3,857 shares during the period. Institutional investors and hedge funds own 67.87% 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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