Wall Street brokerages predict that Editas Medicine (NASDAQ:EDIT) will announce sales of $3.23 million for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Editas Medicine’s earnings, with estimates ranging from $2.50 million to $3.70 million. Editas Medicine posted sales of $680,000.00 in the same quarter last year, which suggests a positive year over year growth rate of 375%. The business is expected to announce its next earnings results on Monday, May 21st.
According to Zacks, analysts expect that Editas Medicine will report full year sales of $19.43 million for the current fiscal year, with estimates ranging from $10.00 million to $39.03 million. For the next fiscal year, analysts anticipate that the firm will post sales of $31.78 million per share, with estimates ranging from $10.00 million to $58.10 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Editas Medicine.
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 analysts’ expectations of $4.25 million. Editas Medicine had a negative net margin of 876.49% and a negative return on equity of 61.92%. The business’s quarterly revenue was up 311.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.10) EPS.
Several equities analysts have weighed in on EDIT shares. BidaskClub upgraded Editas Medicine from a “hold” rating to a “buy” rating in a report on Wednesday, December 27th. SunTrust Banks upgraded Editas Medicine from a “hold” rating to a “buy” rating and raised their price target for the company from $17.00 to $45.00 in a report on Tuesday, January 23rd. Morgan Stanley restated an “equal weight” rating and set a $43.00 price target (up previously from $28.00) on shares of Editas Medicine in a report on Wednesday, March 14th. Zacks Investment Research upgraded Editas Medicine from a “sell” rating to a “hold” rating in a report on Friday, March 9th. Finally, ValuEngine upgraded Editas Medicine from a “sell” rating to a “hold” rating in a report on Wednesday, April 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. Editas Medicine presently has a consensus rating of “Hold” and an average target price of $42.17.
In other 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 stock was sold at an average price of $34.21, for a total value of $615,780.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Andrew A. F. Hack sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 20th. The shares were sold at an average price of $38.06, for a total value of $1,522,400.00. Following the completion of the sale, the chief financial officer now directly owns 6,000 shares of the company’s stock, valued at $228,360. 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 over the last ninety days. Corporate insiders own 19.40% of the company’s stock.
Several large investors have recently bought and sold shares of EDIT. BlackRock Inc. lifted its stake in shares of Editas Medicine by 1.3% during the 4th quarter. BlackRock Inc. now owns 2,672,556 shares of the company’s stock worth $82,129,000 after acquiring an additional 33,664 shares during the last quarter. ARK Investment Management LLC lifted its stake in shares of Editas Medicine by 61.8% during the 4th quarter. ARK Investment Management LLC now owns 1,112,845 shares of the company’s stock worth $34,198,000 after acquiring an additional 424,975 shares during the last quarter. Global Thematic Partners LLC lifted its stake in shares of Editas Medicine by 8.7% during the 4th quarter. Global Thematic Partners LLC now owns 614,052 shares of the company’s stock worth $18,869,000 after acquiring an additional 49,011 shares during the last quarter. Farallon Capital Management LLC bought a new stake in shares of Editas Medicine during the 4th quarter worth approximately $15,826,000. Finally, Millennium Management LLC lifted its stake in shares of Editas Medicine by 13.2% during the 4th quarter. Millennium Management LLC now owns 422,757 shares of the company’s stock worth $12,991,000 after acquiring an additional 49,336 shares during the last quarter. 64.52% of the stock is owned by institutional investors and hedge funds.
NASDAQ EDIT traded down $0.87 during trading on Friday, hitting $34.69. 990,744 shares of the stock traded hands, compared to its average volume of 1,646,120. The stock has a market capitalization of $1,618.46, a PE ratio of -11.64 and a beta of 3.59. 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.
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Editas Medicine Company Profile
Editas Medicine, Inc operates as a genome editing company. It focuses on treating patients with genetically defined diseases by correcting their disease causing genes. The company develops a proprietary genome editing platform based on CRISPR technology to target genetically defined diseases with an initial focus on debilitating illnesses where there are no approved treatments.
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