Editas Medicine (EDIT) Lifted to Buy at BidaskClub

BidaskClub upgraded shares of Editas Medicine (NASDAQ:EDIT) from a hold rating to a buy rating in a research note published on Wednesday, December 27th.

Several other analysts also recently issued reports on the stock. ValuEngine downgraded shares of Editas Medicine from a hold rating to a sell rating in a research report on Friday, December 1st. Zacks Investment Research downgraded shares of Editas Medicine from a buy rating to a hold rating in a report on Monday, November 13th. Cann reaffirmed a hold rating on shares of Editas Medicine in a report on Tuesday, November 7th. Cowen reaffirmed a buy rating on shares of Editas Medicine in a report on Tuesday, November 7th. Finally, Morgan Stanley reaffirmed an equal weight rating and set a $28.00 price objective (up from $27.00) on shares of Editas Medicine in a report on Friday, October 6th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $26.73.

Shares of Editas Medicine (NASDAQ:EDIT) opened at $32.00 on Wednesday. Editas Medicine has a 52-week low of $13.12 and a 52-week high of $36.00. The company has a current ratio of 10.12, a quick ratio of 10.12 and a debt-to-equity ratio of 0.19. The company has a market cap of $1,410.00 and a P/E ratio of -9.88.

Editas Medicine (NASDAQ:EDIT) last posted its quarterly earnings results on Tuesday, November 7th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.04). Editas Medicine had a negative net margin of 1,127.03% and a negative return on equity of 70.19%. The business had revenue of $6.28 million during the quarter, compared to analyst estimates of $2.66 million. During the same period in the previous year, the business posted ($0.59) EPS. The business’s revenue for the quarter was up 553.0% compared to the same quarter last year. research analysts expect that Editas Medicine will post -2.92 earnings per share for the current year.

In related news, CFO Andrew A. F. Hack sold 5,000 shares of the business’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $24.31, for a total value of $121,550.00. Following the sale, the chief financial officer now directly owns 5,000 shares in the company, valued at approximately $121,550. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Katrine Bosley sold 14,995 shares of the business’s stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $34.15, for a total value of $512,079.25. The disclosure for this sale can be found here. Insiders have sold a total of 61,310 shares of company stock worth $1,689,449 over the last quarter. Company insiders own 19.40% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Editas Medicine by 12.5% in the 2nd quarter. Vanguard Group Inc. now owns 2,177,146 shares of the company’s stock valued at $36,533,000 after acquiring an additional 241,973 shares during the period. State Street Corp raised its stake in Editas Medicine by 305.4% in the 2nd quarter. State Street Corp now owns 537,640 shares of the company’s stock valued at $9,022,000 after acquiring an additional 405,022 shares during the period. Ark Investment Management LLC raised its stake in Editas Medicine by 121.9% in the 2nd quarter. Ark Investment Management LLC now owns 510,187 shares of the company’s stock valued at $8,561,000 after acquiring an additional 280,265 shares during the period. Northern Trust Corp raised its stake in Editas Medicine by 245.9% in the 2nd quarter. Northern Trust Corp now owns 373,149 shares of the company’s stock valued at $6,261,000 after acquiring an additional 265,273 shares during the period. Finally, American Century Companies Inc. bought a new stake in Editas Medicine in the 3rd quarter valued at about $7,497,000. Institutional investors and hedge funds own 65.70% of the company’s stock.

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Editas Medicine Company Profile

Editas Medicine, Inc is a genome editing company. It is engaged in treating patients with genetically defined diseases by correcting their disease-causing genes. It operates through developing and commercializing genome editing technology segment. It is developing a genome editing platform based on clustered, regularly interspaced short palindromic repeats (CRISPR) technology.

Analyst Recommendations for Editas Medicine (NASDAQ:EDIT)

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