Editas Medicine, Inc. (NASDAQ:EDIT) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Editas Medicine, Inc. (NASDAQ:EDITGet Free Report) has been given a consensus rating of “Moderate Buy” by the ten research firms that are currently covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $13.90.

A number of brokerages recently weighed in on EDIT. Morgan Stanley upgraded shares of Editas Medicine from an “underweight” rating to an “equal weight” rating and set a $7.00 target price for the company in a research report on Thursday, May 9th. StockNews.com lowered Editas Medicine from a “hold” rating to a “sell” rating in a research report on Thursday, May 9th. Citigroup decreased their target price on Editas Medicine from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. JPMorgan Chase & Co. raised their price target on Editas Medicine from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Tuesday, February 27th. Finally, Barclays reduced their price objective on Editas Medicine from $11.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 9th.

Check Out Our Latest Report on EDIT

Editas Medicine Stock Up 9.3 %

Shares of EDIT opened at $6.02 on Thursday. The business has a 50-day simple moving average of $6.36 and a two-hundred day simple moving average of $8.18. The stock has a market cap of $495.08 million, a price-to-earnings ratio of -2.87 and a beta of 2.09. Editas Medicine has a 52 week low of $4.91 and a 52 week high of $11.91.

Editas Medicine (NASDAQ:EDITGet Free Report) last issued its earnings results on Wednesday, May 8th. The company reported ($0.76) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.63) by ($0.13). Editas Medicine had a negative net margin of 239.36% and a negative return on equity of 47.34%. The business had revenue of $1.10 million for the quarter, compared to the consensus estimate of $11.14 million. During the same period last year, the business posted ($0.71) EPS. The firm’s revenue for the quarter was down 88.9% compared to the same quarter last year. On average, equities analysts anticipate that Editas Medicine will post -2.67 earnings per share for the current fiscal year.

Insider Activity

In other Editas Medicine news, SVP Baisong Mei sold 20,327 shares of Editas Medicine stock in a transaction on Monday, March 4th. The shares were sold at an average price of $9.42, for a total transaction of $191,480.34. Following the completion of the transaction, the senior vice president now directly owns 141,543 shares of the company’s stock, valued at $1,333,335.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Baisong Mei sold 20,327 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $9.42, for a total value of $191,480.34. Following the sale, the senior vice president now owns 141,543 shares of the company’s stock, valued at $1,333,335.06. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jessica Hopfield purchased 45,000 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were purchased at an average cost of $5.64 per share, with a total value of $253,800.00. Following the completion of the purchase, the director now owns 67,700 shares in the company, valued at approximately $381,828. The disclosure for this purchase can be found here. Corporate insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Commonwealth Equity Services LLC boosted its holdings in Editas Medicine by 10.8% during the 3rd quarter. Commonwealth Equity Services LLC now owns 28,093 shares of the company’s stock valued at $219,000 after acquiring an additional 2,748 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Editas Medicine by 3.4% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 75,445 shares of the company’s stock valued at $588,000 after purchasing an additional 2,453 shares during the period. Raymond James & Associates grew its holdings in shares of Editas Medicine by 5.8% in the third quarter. Raymond James & Associates now owns 274,303 shares of the company’s stock worth $2,140,000 after purchasing an additional 14,994 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Editas Medicine by 14.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 314,234 shares of the company’s stock worth $2,451,000 after buying an additional 39,076 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Editas Medicine by 34.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,632 shares of the company’s stock valued at $231,000 after buying an additional 7,574 shares in the last quarter. Institutional investors own 71.90% of the company’s stock.

About Editas Medicine

(Get Free Report

Editas Medicine, Inc, a clinical stage genome editing company, focuses on developing transformative genomic medicines to treat a range of serious diseases. It develops a proprietary gene editing platform based on CRISPR technology. The company develops EDIT-101, which is in Phase 1/2 BRILLIANCE trial for Leber Congenital Amaurosis; and reni-cel, a clinical development gene-edited medicine to treat sickle cell disease and transfusion-dependent beta-thalassemia.

See Also

Analyst Recommendations for Editas Medicine (NASDAQ:EDIT)

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