Stifel Nicolaus Cuts Editas Medicine (NASDAQ:EDIT) Price Target to $11.00

Editas Medicine (NASDAQ:EDIT) had its price target trimmed by Stifel Nicolaus from $17.00 to $11.00 in a research report sent to investors on Tuesday,Benzinga reports. The firm currently has a buy rating on the stock.

EDIT has been the subject of several other reports. Wells Fargo & Company lowered their target price on shares of Editas Medicine from $9.00 to $7.00 and set an “overweight” rating for the company in a research note on Tuesday. Royal Bank of Canada restated a “sector perform” rating and set a $8.00 price objective on shares of Editas Medicine in a report on Thursday, September 19th. Evercore ISI dropped their target price on shares of Editas Medicine from $7.00 to $3.00 and set an “in-line” rating on the stock in a research report on Wednesday, October 23rd. Barclays dropped their price objective on shares of Editas Medicine from $7.00 to $5.00 and set an “equal weight” rating on the stock in a report on Tuesday. Finally, Bank of America raised Editas Medicine from a “neutral” rating to a “buy” rating and increased their price objective for the company from $13.00 to $15.00 in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $9.08.

Editas Medicine Trading Down 3.4 %

EDIT opened at $3.17 on Tuesday. The firm has a market cap of $261.46 million, a price-to-earnings ratio of -1.24 and a beta of 2.01. Editas Medicine has a 12 month low of $2.70 and a 12 month high of $11.69. The stock has a fifty day moving average price of $3.40 and a 200-day moving average price of $4.49.

Editas Medicine (NASDAQ:EDIT) last posted its earnings results on Monday, November 4th. The company reported ($0.75) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.75). The company had revenue of $0.06 million for the quarter, compared to analyst estimates of $3.93 million. Editas Medicine had a negative return on equity of 72.15% and a negative net margin of 340.96%. The firm’s quarterly revenue was down 98.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.55) earnings per share. On average, equities research analysts forecast that Editas Medicine will post -2.96 EPS for the current year.

Institutional Trading of Editas Medicine

A number of institutional investors have recently made changes to their positions in EDIT. Drive Wealth Management LLC acquired a new stake in shares of Editas Medicine in the third quarter valued at about $65,000. GSA Capital Partners LLP grew its stake in Editas Medicine by 89.0% during the 3rd quarter. GSA Capital Partners LLP now owns 182,725 shares of the company’s stock valued at $623,000 after acquiring an additional 86,020 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new stake in Editas Medicine during the 3rd quarter valued at about $39,000. China Universal Asset Management Co. Ltd. raised its holdings in Editas Medicine by 64.2% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 15,863 shares of the company’s stock valued at $54,000 after acquiring an additional 6,202 shares during the last quarter. Finally, Ballentine Partners LLC purchased a new position in Editas Medicine in the 3rd quarter worth approximately $36,000. 71.90% of the stock is owned by institutional investors and hedge funds.

Editas Medicine Company Profile

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.