Zacks Investment Research upgraded shares of Editas Medicine (NASDAQ:EDIT) from a sell rating to a hold rating in a research report released on Friday morning.
According to Zacks, “Editas Medicine, Inc. is a genome editing company. It focuses on translating its genome editing technology into a novel class of human therapeutics which enable precise and corrective molecular modification to treat diseases. Editas Medicine, Inc. is based in Cambridge, Massachusetts. “
Other equities analysts have also issued reports about the stock. SunTrust Banks upgraded shares of Editas Medicine from a hold rating to a buy rating and upped their price objective for the stock from $17.00 to $45.00 in a report on Tuesday, January 23rd. BidaskClub upgraded shares of Editas Medicine from a hold rating to a buy rating in a report on Wednesday, December 27th. Cann restated a hold rating on shares of Editas Medicine in a report on Friday, February 16th. JMP Securities upped their price objective on shares of Editas Medicine from $40.00 to $67.00 and gave the stock an outperform rating in a report on Wednesday, March 7th. Finally, Barclays upped their price objective on shares of Editas Medicine from $28.00 to $46.00 and gave the stock an overweight rating in a report on Wednesday, March 7th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. Editas Medicine has a consensus rating of Buy and an average target price of $37.88.
Editas Medicine (NASDAQ:EDIT) last issued its quarterly earnings data on Tuesday, March 6th. The company reported ($0.84) EPS for the quarter, missing the consensus estimate of ($0.75) by ($0.09). Editas Medicine had a negative return on equity of 63.41% and a negative net margin of 876.49%. The company had revenue of $3.70 million during the quarter, compared to analyst estimates of $4.25 million. During the same quarter in the prior year, the company posted ($1.10) earnings per share. The business’s revenue was up 311.1% compared to the same quarter last year. research analysts anticipate that Editas Medicine will post -3.23 earnings per share for the current year.
In other Editas Medicine news, CFO Andrew A. F. Hack sold 18,000 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $34.21, for a total transaction of $615,780.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Katrine Bosley sold 8,333 shares of the stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $35.72, for a total transaction of $297,654.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 92,648 shares of company stock worth $3,103,654. 19.40% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Slow Capital Inc. acquired a new stake in Editas Medicine during the 4th quarter worth approximately $391,000. MetLife Investment Advisors LLC acquired a new stake in Editas Medicine during the 4th quarter worth approximately $509,000. Glenmede Trust Co. NA acquired a new stake in Editas Medicine during the 4th quarter worth approximately $153,000. Financial Advocates Investment Management acquired a new stake in Editas Medicine during the 4th quarter worth approximately $319,000. Finally, Millennium Management LLC lifted its holdings in Editas Medicine by 13.2% during the 4th quarter. Millennium Management LLC now owns 422,757 shares of the company’s stock worth $12,991,000 after buying an additional 49,336 shares in the last quarter. Institutional investors own 72.40% of the company’s stock.
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Editas Medicine Company Profile
Editas Medicine, Inc is a genome editing company. It is engaged in treating patients with genetically defined diseases by correcting their disease-causing genes. It operates through developing and commercializing genome editing technology segment. It is developing a genome editing platform based on clustered, regularly interspaced short palindromic repeats (CRISPR) technology.
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