Editas Medicine (NASDAQ:EDIT) Upgraded by BidaskClub to “Hold”

BidaskClub upgraded shares of Editas Medicine (NASDAQ:EDIT) from a sell rating to a hold rating in a report released on Thursday, BidAskClub reports.

EDIT has been the subject of several other research reports. SunTrust Banks began coverage on Editas Medicine in a research report on Thursday, June 18th. They issued a buy rating and a $45.00 price objective for the company. Morgan Stanley upped their price objective on Editas Medicine from $27.00 to $32.00 and gave the company an equal weight rating in a report on Monday, August 10th. Chardan Capital reiterated a buy rating and issued a $55.00 price objective on shares of Editas Medicine in a report on Friday, June 12th. Oppenheimer reiterated a hold rating on shares of Editas Medicine in a report on Monday, June 15th. Finally, Zacks Investment Research downgraded Editas Medicine from a buy rating to a hold rating and set a $29.00 price objective for the company. in a report on Monday, June 1st. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Editas Medicine presently has an average rating of Hold and a consensus price target of $42.33.

Shares of EDIT stock opened at $33.90 on Thursday. The stock’s fifty day simple moving average is $33.36 and its 200 day simple moving average is $27.81. The company has a debt-to-equity ratio of 0.05, a current ratio of 8.95 and a quick ratio of 8.95. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of -13.45 and a beta of 2.03. Editas Medicine has a one year low of $14.01 and a one year high of $39.96.

Editas Medicine (NASDAQ:EDIT) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.43) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.80) by $0.37. The business had revenue of $10.75 million for the quarter, compared to analyst estimates of $6.34 million. Editas Medicine had a negative return on equity of 46.57% and a negative net margin of 404.88%. Editas Medicine’s quarterly revenue was up 361.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.69) EPS. On average, research analysts anticipate that Editas Medicine will post -2.69 earnings per share for the current year.

In related news, EVP Charles Albright sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 15th. The stock was sold at an average price of $32.22, for a total value of $96,660.00. Following the transaction, the executive vice president now owns 28,373 shares in the company, valued at $914,178.06. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Cynthia Collins sold 1,976 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $36.66, for a total value of $72,440.16. Insiders sold a total of 14,976 shares of company stock worth $522,000 in the last 90 days. Company insiders own 0.86% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. tru Independence LLC purchased a new stake in shares of Editas Medicine in the 2nd quarter valued at $26,000. Strs Ohio purchased a new stake in shares of Editas Medicine in the 2nd quarter valued at $29,000. Kore Private Wealth LLC purchased a new stake in Editas Medicine during the second quarter worth $29,000. Toronto Dominion Bank purchased a new stake in Editas Medicine during the first quarter worth $40,000. Finally, Macquarie Group Ltd. purchased a new stake in Editas Medicine during the second quarter worth $63,000. Institutional investors and hedge funds own 86.26% of the company’s stock.

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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Analyst Recommendations for Editas Medicine (NASDAQ:EDIT)

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