Editas Medicine (NASDAQ:EDIT)‘s stock had its “equal weight” rating reaffirmed by equities research analysts at Morgan Stanley in a report issued on Wednesday. They currently have a $43.00 price objective on the stock, up from their previous price objective of $28.00. Morgan Stanley’s price objective suggests a potential upside of 4.34% from the company’s current price.
Several other equities analysts have also recently weighed in on the company. JMP Securities increased their price target on Editas Medicine from $40.00 to $67.00 and gave the company an “outperform” rating in a report on Wednesday, March 7th. ValuEngine cut Editas Medicine from a “hold” rating to a “sell” rating in a report on Friday, December 1st. BidaskClub cut Editas Medicine from a “buy” rating to a “hold” rating in a report on Thursday, December 7th. Zacks Investment Research cut Editas Medicine from a “hold” rating to a “sell” rating in a report on Tuesday, January 9th. Finally, CLSA initiated coverage on Editas Medicine in a report on Tuesday, February 13th. They set an “underperform” rating on the stock. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $40.02.
Editas Medicine (EDIT) traded down $0.30 during midday trading on Wednesday, hitting $41.21. The stock had a trading volume of 63,886 shares, compared to its average volume of 1,630,000. The company has a market cap of $1,930.00 and a PE ratio of -13.78. The company has a debt-to-equity ratio of 0.16, a current ratio of 9.05 and a quick ratio of 9.05. Editas Medicine has a 12-month low of $13.12 and a 12-month high of $45.02.
Editas Medicine (NASDAQ:EDIT) last released its quarterly earnings results on Tuesday, March 6th. The company reported ($0.84) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.09). The firm had revenue of $3.70 million for the quarter, compared to the consensus estimate of $4.25 million. Editas Medicine had a negative net margin of 876.49% and a negative return on equity of 61.92%. Editas Medicine’s quarterly revenue was up 311.1% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.10) earnings per share. analysts expect that Editas Medicine will post -3.26 EPS for the current fiscal year.
In related news, CFO Andrew A. F. Hack sold 5,000 shares of the firm’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $24.31, for a total value of $121,550.00. Following the transaction, the chief financial officer now directly owns 5,000 shares of the company’s stock, valued at approximately $121,550. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Katrine Bosley sold 9,134 shares of the firm’s stock in a transaction on Friday, March 9th. The stock was sold at an average price of $45.00, for a total value of $411,030.00. Following the completion of the transaction, the insider now directly owns 1,318,631 shares in the company, valued at $59,338,395. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 101,782 shares of company stock worth $3,514,684. 19.40% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in EDIT. Great West Life Assurance Co. Can raised its holdings in Editas Medicine by 519.9% in the 3rd quarter. Great West Life Assurance Co. Can now owns 4,959 shares of the company’s stock worth $114,000 after purchasing an additional 4,159 shares during the period. Glenmede Trust Co. NA purchased a new stake in Editas Medicine in the 4th quarter worth $153,000. Royal Bank of Canada increased its stake in Editas Medicine by 4.1% in the 2nd quarter. Royal Bank of Canada now owns 9,364 shares of the company’s stock worth $157,000 after buying an additional 372 shares in the last quarter. Martingale Asset Management L P purchased a new stake in Editas Medicine in the 4th quarter worth $219,000. Finally, Plancorp LLC purchased a new stake in Editas Medicine in the 4th quarter worth $235,000. 72.40% of the stock is currently owned by institutional investors.
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About Editas Medicine
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.
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