Zacks: Brokerages Anticipate Editas Medicine Inc (NASDAQ:EDIT) Will Post Quarterly Sales of $4.11 Million

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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.

In other Editas Medicine news, CEO Cynthia Collins sold 5,193 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $25.83, for a total value of $134,135.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.94% of the stock is owned by company insiders.

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.

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