Equities research analysts expect Editas Medicine Inc (NASDAQ:EDIT) to report sales of $4.11 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Editas Medicine’s earnings, with the highest sales estimate coming in at $8.00 million and the lowest estimate coming in at $2.00 million. Editas Medicine reported sales of $14.52 million during the same quarter last year, which would suggest a negative year over year growth rate of 71.7%. The business is expected to issue its next quarterly earnings results before the market opens on Tuesday, November 12th.
On average, analysts expect that Editas Medicine will report full-year sales of $16.96 million for the current fiscal year, with estimates ranging from $8.40 million to $24.03 million. For the next fiscal year, analysts anticipate that the firm will report sales of $22.23 million, with estimates ranging from $7.53 million to $41.40 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow Editas Medicine.
A number of research firms recently weighed in on EDIT. BidaskClub lowered shares of Editas Medicine from a “sell” rating to a “strong sell” rating in a research note on Thursday, October 10th. Morgan Stanley set a $29.00 price target on shares of Editas Medicine and gave the company a “hold” rating in a report on Friday, August 9th. Chardan Capital reissued a “buy” rating and issued a $55.00 price target on shares of Editas Medicine in a report on Thursday, July 25th. Finally, ValuEngine downgraded shares of Editas Medicine from a “buy” rating to a “hold” rating in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $35.50.
Several hedge funds and other institutional investors have recently bought and sold shares of EDIT. Commonwealth Equity Services LLC lifted its holdings in shares of Editas Medicine by 2.8% during the 2nd quarter. Commonwealth Equity Services LLC now owns 30,752 shares of the company’s stock worth $760,000 after acquiring an additional 850 shares during the last quarter. AE Wealth Management LLC bought a new stake in shares of Editas Medicine during the 2nd quarter worth $482,000. Carnegie Capital Asset Management LLC bought a new stake in shares of Editas Medicine during the 2nd quarter worth $989,000. Steward Partners Investment Advisory LLC bought a new stake in shares of Editas Medicine during the 2nd quarter worth $27,000. Finally, Creative Planning lifted its holdings in shares of Editas Medicine by 26.6% during the 2nd quarter. Creative Planning now owns 33,564 shares of the company’s stock worth $830,000 after acquiring an additional 7,060 shares during the last quarter. 82.73% of the stock is owned by institutional investors.
NASDAQ:EDIT traded down $0.42 on Thursday, hitting $20.49. The stock had a trading volume of 647,800 shares, compared to its average volume of 760,924. Editas Medicine has a 1 year low of $17.80 and a 1 year high of $32.46. The stock has a market cap of $1.05 billion, a P/E ratio of -8.79 and a beta of 2.47. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.45 and a current ratio of 4.45. The firm’s fifty day simple moving average is $21.45 and its two-hundred day simple moving average is $23.43.
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.
Further Reading: 52-Week High/Low
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.