$6.43 Million in Sales Expected for Editas Medicine Inc (EDIT) This Quarter

Share on StockTwits

Equities analysts forecast that Editas Medicine Inc (NASDAQ:EDIT) will announce $6.43 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Editas Medicine’s earnings. The highest sales estimate is $15.00 million and the lowest is $1.80 million. Editas Medicine posted sales of $6.28 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 2.4%. The business is scheduled to announce its next quarterly earnings report on Tuesday, November 6th.

According to Zacks, analysts expect that Editas Medicine will report full-year sales of $25.08 million for the current fiscal year, with estimates ranging from $15.00 million to $39.03 million. For the next financial year, analysts anticipate that the company will post sales of $33.36 million per share, with estimates ranging from $16.30 million to $58.10 million. Zacks’ sales averages are a mean average based on a survey of analysts that cover Editas Medicine.

Editas Medicine (NASDAQ:EDIT) last issued its quarterly earnings results on Monday, August 6th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.15). Editas Medicine had a negative net margin of 623.35% and a negative return on equity of 61.27%. The firm had revenue of $7.37 million for the quarter, compared to analyst estimates of $7.01 million. During the same quarter last year, the business posted ($0.65) earnings per share. The firm’s revenue for the quarter was up 137.7% compared to the same quarter last year.

A number of equities analysts recently issued reports on EDIT shares. BidaskClub cut Editas Medicine from a “buy” rating to a “hold” rating in a report on Thursday, April 26th. Chardan Capital decreased their target price on Editas Medicine from $72.50 to $55.00 and set a “buy” rating on the stock in a report on Tuesday, May 15th. Zacks Investment Research upgraded Editas Medicine from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Tuesday, May 15th. ValuEngine upgraded Editas Medicine from a “hold” rating to a “buy” rating in a report on Saturday, June 2nd. Finally, JPMorgan Chase & Co. set a $36.00 target price on Editas Medicine and gave the stock a “hold” rating in a report on Monday, August 6th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $47.43.

Shares of NASDAQ EDIT traded up $0.98 during mid-day trading on Friday, reaching $29.64. The company had a trading volume of 618,270 shares, compared to its average volume of 953,401. The company has a quick ratio of 11.71, a current ratio of 14.50 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of -9.95 and a beta of 3.32. Editas Medicine has a 1-year low of $17.35 and a 1-year high of $45.02.

In other news, insider Vickesh Myer sold 14,000 shares of the firm’s stock in a transaction on Tuesday, June 19th. The stock was sold at an average price of $38.26, for a total value of $535,640.00. Following the completion of the sale, the insider now owns 4,300 shares of the company’s stock, valued at $164,518. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Katrine Bosley sold 8,333 shares of the firm’s stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $29.55, for a total value of $246,240.15. Following the completion of the sale, the insider now directly owns 1,279,066 shares of the company’s stock, valued at approximately $37,796,400.30. The disclosure for this sale can be found here. Insiders sold a total of 82,999 shares of company stock worth $2,992,109 over the last 90 days. Insiders own 5.20% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of Editas Medicine by 20.7% in the second quarter. BlackRock Inc. now owns 3,455,066 shares of the company’s stock worth $123,796,000 after buying an additional 591,442 shares during the period. ARK Investment Management LLC boosted its position in shares of Editas Medicine by 34.6% in the second quarter. ARK Investment Management LLC now owns 2,181,572 shares of the company’s stock worth $78,166,000 after buying an additional 561,364 shares during the period. Global Thematic Partners LLC boosted its position in shares of Editas Medicine by 7.0% in the second quarter. Global Thematic Partners LLC now owns 506,917 shares of the company’s stock worth $18,164,000 after buying an additional 32,968 shares during the period. Chevy Chase Trust Holdings Inc. boosted its position in shares of Editas Medicine by 13.9% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 448,148 shares of the company’s stock worth $16,057,000 after buying an additional 54,850 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Editas Medicine by 12.4% in the first quarter. Northern Trust Corp now owns 419,861 shares of the company’s stock worth $13,917,000 after buying an additional 46,354 shares during the period. 65.77% of the stock is owned by institutional investors and hedge funds.

Editas Medicine Company Profile

Editas Medicine, Inc operates as a genome editing company. It focuses on treating patients with genetically defined diseases by correcting their disease causing genes. The company develops a proprietary genome editing platform based on CRISPR technology to target genetically defined diseases with an initial focus on debilitating illnesses where there are no approved treatments.

Featured Article: Trading Strategy Methods for Individual Investors

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.

Latest News

Brokerages Set The Western Union Company  Price Target at $18.25
Brokerages Set The Western Union Company Price Target at $18.25
CaliphCoin Tops One Day Trading Volume of $0.00
CaliphCoin Tops One Day Trading Volume of $0.00
Analysts Anticipate Acadia Healthcare Company Inc  Will Post Earnings of $0.65 Per Share
Analysts Anticipate Acadia Healthcare Company Inc Will Post Earnings of $0.65 Per Share
Somewhat Negative News Coverage Somewhat Unlikely to Impact BIO-key International  Stock Price
Somewhat Negative News Coverage Somewhat Unlikely to Impact BIO-key International Stock Price
Somewhat Favorable Media Coverage Somewhat Unlikely to Impact Burcon Nutrascience  Share Price
Somewhat Favorable Media Coverage Somewhat Unlikely to Impact Burcon Nutrascience Share Price
Zacks: Analysts Anticipate Pool Co.  to Announce $1.57 EPS
Zacks: Analysts Anticipate Pool Co. to Announce $1.57 EPS


Leave a Reply

© 2006-2018 Ticker Report. Google+.