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.
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.
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