$50.65 Million in Sales Expected for Editas Medicine Inc (NASDAQ:EDIT) This Quarter

Equities research analysts predict that Editas Medicine Inc (NASDAQ:EDIT) will report sales of $50.65 million for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Editas Medicine’s earnings. The lowest sales estimate is $8.00 million and the highest is $74.00 million. Editas Medicine posted sales of $6.12 million during the same quarter last year, which suggests a positive year over year growth rate of 727.6%. The business is scheduled to announce its next earnings results on Thursday, February 27th.

On average, analysts expect that Editas Medicine will report full-year sales of $46.43 million for the current year, with estimates ranging from $9.03 million to $82.25 million. For the next year, analysts expect that the company will report sales of $23.48 million, with estimates ranging from $10.00 million to $41.40 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Editas Medicine.

Editas Medicine (NASDAQ:EDIT) last issued its earnings results on Tuesday, November 12th. The company reported ($0.66) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.73) by $0.07. Editas Medicine had a negative return on equity of 56.53% and a negative net margin of 842.47%. The business had revenue of $3.90 million during the quarter, compared to analyst estimates of $4.72 million. During the same quarter in the previous year, the firm earned ($0.32) EPS. Editas Medicine’s revenue was down 73.1% on a year-over-year basis.

Several research firms have weighed in on EDIT. Zacks Investment Research upgraded Editas Medicine from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a research note on Tuesday, January 14th. Chardan Capital restated a “buy” rating and issued a $55.00 price target on shares of Editas Medicine in a research note on Tuesday, December 10th. ValuEngine downgraded Editas Medicine from a “buy” rating to a “hold” rating in a research note on Saturday, December 21st. Finally, BidaskClub raised Editas Medicine from a “sell” rating to a “hold” rating in a report on Tuesday, December 10th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $37.00.

EDIT stock traded down $1.38 during midday trading on Tuesday, hitting $30.64. The company’s stock had a trading volume of 1,004,184 shares, compared to its average volume of 682,339. Editas Medicine has a 12 month low of $19.00 and a 12 month high of $34.37. The company has a quick ratio of 5.08, a current ratio of 5.08 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of -12.40 and a beta of 2.63. The company has a 50 day moving average of $30.72 and a two-hundred day moving average of $25.42.

Several institutional investors and hedge funds have recently modified their holdings of EDIT. Tower Research Capital LLC TRC purchased a new stake in shares of Editas Medicine during the 3rd quarter worth approximately $25,000. Steward Partners Investment Advisory LLC raised its holdings in shares of Editas Medicine by 45.5% during the 3rd quarter. Steward Partners Investment Advisory LLC now owns 1,600 shares of the company’s stock worth $36,000 after acquiring an additional 500 shares in the last quarter. Endurance Wealth Management Inc. purchased a new stake in shares of Editas Medicine during the 4th quarter worth approximately $36,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in shares of Editas Medicine during the 4th quarter worth approximately $86,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Editas Medicine by 17.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,261 shares of the company’s stock worth $97,000 after acquiring an additional 618 shares in the last quarter. 86.30% of the stock is currently owned by institutional investors and hedge funds.

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.

Recommended Story: Why do earnings reports matter?

Get a free copy of the Zacks research report on Editas Medicine (EDIT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Editas Medicine (NASDAQ:EDIT)

Receive News & Ratings for Editas Medicine Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Editas Medicine and related companies with MarketBeat.com's FREE daily email newsletter.