Brokerages forecast that Editas Medicine Inc (NASDAQ:EDIT) will report ($0.77) earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Editas Medicine’s earnings, with the highest EPS estimate coming in at ($0.63) and the lowest estimate coming in at ($0.89). Editas Medicine reported earnings per share of ($0.85) during the same quarter last year, which would indicate a positive year-over-year growth rate of 9.4%. The company is expected to issue its next quarterly earnings report on Monday, May 21st.
According to Zacks, analysts expect that Editas Medicine will report full-year earnings of ($3.30) per share for the current year, with EPS estimates ranging from ($3.75) to ($2.52). For the next year, analysts anticipate that the business will report earnings of ($3.32) per share, with EPS estimates ranging from ($3.70) to ($2.71). Zacks’ earnings per share averages are an average based on a survey of analysts that that provide coverage for Editas Medicine.
Editas Medicine (NASDAQ:EDIT) last posted its quarterly earnings data on Tuesday, March 6th. The company reported ($0.84) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.75) by ($0.09). The company had revenue of $3.70 million for the quarter, compared to analysts’ expectations of $4.25 million. Editas Medicine had a negative return on equity of 61.92% and a negative net margin of 876.49%. The business’s revenue for the quarter was up 311.1% on a year-over-year basis. During the same period in the previous year, the business posted ($1.10) EPS.
A number of research firms recently weighed in on EDIT. ValuEngine raised shares of Editas Medicine from a “sell” rating to a “hold” rating in a research report on Wednesday. BidaskClub cut shares of Editas Medicine from a “buy” rating to a “hold” rating in a research report on Thursday, March 29th. Morgan Stanley reaffirmed an “equal weight” rating and set a $43.00 price objective (up previously from $28.00) on shares of Editas Medicine in a research report on Wednesday, March 14th. Zacks Investment Research raised shares of Editas Medicine from a “sell” rating to a “hold” rating in a research report on Friday, March 9th. Finally, Barclays raised their price target on shares of Editas Medicine from $28.00 to $46.00 and gave the company an “overweight” rating in a research report on Wednesday, March 7th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $42.17.
In other Editas Medicine news, CFO Andrew A. F. Hack sold 18,000 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $34.21, for a total value of $615,780.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Katrine Bosley sold 3,338 shares of the firm’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $35.28, for a total transaction of $117,764.64. Following the completion of the transaction, the insider now directly owns 1,364,431 shares of the company’s stock, valued at approximately $48,137,125.68. The disclosure for this sale can be found here. Insiders sold a total of 121,471 shares of company stock valued at $4,546,487 in the last three months. 19.40% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the business. Wells Fargo & Company MN boosted its position in Editas Medicine by 7.5% in the 4th quarter. Wells Fargo & Company MN now owns 48,791 shares of the company’s stock valued at $1,500,000 after buying an additional 3,415 shares during the period. Great West Life Assurance Co. Can raised its holdings in shares of 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 valued at $114,000 after purchasing an additional 4,159 shares in the last quarter. Swiss National Bank raised its holdings in shares of Editas Medicine by 11.7% in the 4th quarter. Swiss National Bank now owns 44,800 shares of the company’s stock valued at $1,377,000 after purchasing an additional 4,700 shares in the last quarter. Allianz Asset Management GmbH raised its holdings in shares of Editas Medicine by 3.6% in the 4th quarter. Allianz Asset Management GmbH now owns 140,820 shares of the company’s stock valued at $4,328,000 after purchasing an additional 4,915 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of Editas Medicine by 12.4% in the 4th quarter. Victory Capital Management Inc. now owns 44,732 shares of the company’s stock valued at $1,375,000 after purchasing an additional 4,920 shares in the last quarter. 64.52% of the stock is owned by institutional investors.
Shares of NASDAQ:EDIT traded down $0.97 during mid-day trading on Wednesday, reaching $31.94. 1,044,509 shares of the company were exchanged, compared to its average volume of 1,449,833. The company has a debt-to-equity ratio of 0.16, a quick ratio of 9.05 and a current ratio of 9.05. The stock has a market capitalization of $1,542.98, a P/E ratio of -10.72 and a beta of 3.59. Editas Medicine has a 1 year low of $13.12 and a 1 year high of $45.02.
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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.
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