Editas Medicine Inc (NASDAQ:EDIT) Receives $41.67 Consensus Target Price from Analysts

Editas Medicine Inc (NASDAQ:EDIT) has been given an average rating of “Buy” by the twelve research firms that are covering the firm, Marketbeat.com reports. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $41.67.

A number of equities analysts recently commented on EDIT shares. BidaskClub upgraded Westport Fuel Systems from a “hold” rating to a “buy” rating in a report on Friday. Evercore ISI started coverage on Homology Medicines in a report on Thursday, April 11th. They set an “outperform” rating and a $29.00 price target for the company. Zacks Investment Research upgraded Garrett Motion from a “sell” rating to a “hold” rating in a report on Friday, May 10th. Chardan Capital set a $55.00 price target on Editas Medicine and gave the stock a “buy” rating in a report on Sunday, June 16th. Finally, Oppenheimer reduced their price target on 2U from $83.00 to $67.00 and set an “outperform” rating for the company in a report on Wednesday, May 8th.

Editas Medicine stock traded up $0.06 during midday trading on Friday, reaching $24.84. 17,777 shares of the company’s stock were exchanged, compared to its average volume of 692,489. Editas Medicine has a 52 week low of $17.80 and a 52 week high of $38.49. The company has a current ratio of 8.46, a quick ratio of 8.46 and a debt-to-equity ratio of 0.07. The company has a market cap of $1.22 billion, a price-to-earnings ratio of -10.67 and a beta of 2.53. The firm has a 50-day moving average price of $22.54.

Editas Medicine (NASDAQ:EDIT) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.60) EPS for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.03). Editas Medicine had a negative return on equity of 47.64% and a negative net margin of 359.93%. The business had revenue of $2.07 million for the quarter, compared to the consensus estimate of $7.62 million. During the same quarter in the previous year, the business posted ($0.67) EPS. The company’s revenue for the quarter was down 47.3% on a year-over-year basis. On average, sell-side analysts expect that Editas Medicine will post -2.52 earnings per share for the current year.

Several large investors have recently modified their holdings of the company. Rhumbline Advisers lifted its stake in shares of Editas Medicine by 49.0% in the 4th quarter. Rhumbline Advisers now owns 61,032 shares of the company’s stock valued at $1,388,000 after purchasing an additional 20,080 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Editas Medicine by 2,738.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 31,279 shares of the company’s stock valued at $711,000 after buying an additional 30,177 shares during the period. California Public Employees Retirement System raised its holdings in shares of Editas Medicine by 60.5% during the 4th quarter. California Public Employees Retirement System now owns 71,082 shares of the company’s stock valued at $1,617,000 after buying an additional 26,800 shares during the period. BlackRock Inc. raised its holdings in shares of Editas Medicine by 2.6% during the 4th quarter. BlackRock Inc. now owns 3,681,534 shares of the company’s stock valued at $83,755,000 after buying an additional 92,393 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of Editas Medicine by 0.8% during the 4th quarter. Bank of New York Mellon Corp now owns 200,502 shares of the company’s stock valued at $4,562,000 after buying an additional 1,651 shares during the period. Institutional investors own 75.43% of the company’s stock.

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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Analyst Recommendations for Editas Medicine (NASDAQ:EDIT)

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