Zacks Research Weighs in on Editas Medicine FY2028 Earnings

Editas Medicine, Inc. (NASDAQ:EDIT) – Analysts at Zacks Research issued their FY2028 earnings estimates for Editas Medicine in a note issued to investors on Monday, March 23rd. Zacks Research analyst Team expects that the company will post earnings of ($1.34) per share for the year. The consensus estimate for Editas Medicine’s current full-year earnings is ($2.71) per share.

Editas Medicine (NASDAQ:EDIT) last issued its quarterly earnings results on Monday, March 9th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.21. The company had revenue of $24.74 million during the quarter, compared to the consensus estimate of $8.77 million. Editas Medicine had a negative net margin of 395.02% and a negative return on equity of 389.73%.

EDIT has been the topic of a number of other research reports. Robert W. Baird set a $6.00 price target on Editas Medicine in a report on Monday, March 9th. JonesTrading raised Editas Medicine from a “hold” rating to a “buy” rating and set a $8.00 price objective for the company in a research report on Tuesday, March 10th. Chardan Capital reiterated a “buy” rating and issued a $3.50 target price on shares of Editas Medicine in a research note on Monday, March 9th. TD Cowen reissued a “buy” rating on shares of Editas Medicine in a report on Monday, March 9th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Editas Medicine in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.30.

Editas Medicine Stock Performance

EDIT opened at $2.40 on Tuesday. The stock has a market capitalization of $234.89 million, a P/E ratio of -1.27 and a beta of 2.16. The business’s 50-day simple moving average is $2.09 and its 200-day simple moving average is $2.56. Editas Medicine has a one year low of $0.91 and a one year high of $4.54.

Hedge Funds Weigh In On Editas Medicine

Several institutional investors and hedge funds have recently made changes to their positions in the business. Hsbc Holdings PLC raised its position in shares of Editas Medicine by 17.0% during the 4th quarter. Hsbc Holdings PLC now owns 112,186 shares of the company’s stock valued at $231,000 after acquiring an additional 16,288 shares in the last quarter. Virtu Financial LLC bought a new stake in Editas Medicine during the fourth quarter valued at $89,000. Quadrature Capital Ltd bought a new stake in Editas Medicine during the fourth quarter valued at $220,000. Man Group plc raised its holdings in shares of Editas Medicine by 58.8% during the fourth quarter. Man Group plc now owns 79,170 shares of the company’s stock worth $162,000 after purchasing an additional 29,326 shares during the period. Finally, Eversept Partners LP bought a new position in shares of Editas Medicine in the 4th quarter worth about $596,000. 71.90% of the stock is currently owned by hedge funds and other institutional investors.

About Editas Medicine

Editas Medicine is a clinical-stage biotechnology company focused on translating the power of gene editing into a new class of transformative genomic medicines. Founded in 2013 and headquartered in Cambridge, Massachusetts, the company leverages proprietary CRISPR/Cas9 and CRISPR/Cas12a (Cpf1) platforms to develop therapies aimed at correcting disease-causing genetic mutations. Editas Medicine’s research and development efforts span multiple therapeutic areas, including inherited retinal diseases, hemoglobinopathies, and oncology.

The company’s pipeline includes EDIT-101, a lead candidate designed to treat Leber congenital amaurosis type 10 (LCA10), which has entered early-stage clinical trials, and EDIT-301, targeting sickle cell disease and ?-thalassemia using an ex vivo editing approach.