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.
ILLEGAL ACTIVITY WARNING: “Editas Medicine (EDIT) Lifted to Buy at BidaskClub” was first posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this news story on another domain, it was stolen and reposted in violation of US & international trademark & copyright law. The original version of this news story can be accessed at https://www.dispatchtribunal.com/2018/01/14/editas-medicine-edit-raised-to-buy-at-bidaskclub.html.
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.
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.