Equities research analysts expect Editas Medicine Inc (NASDAQ:EDIT) to post ($0.72) earnings per share for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Editas Medicine’s earnings. The highest EPS estimate is ($0.39) and the lowest is ($0.91). Editas Medicine reported earnings of ($0.64) per share in the same quarter last year, which would suggest a negative year over year growth rate of 12.5%. The business is expected to announce its next quarterly earnings report on Tuesday, November 6th.
On average, analysts expect that Editas Medicine will report full-year earnings of ($3.00) per share for the current financial year, with EPS estimates ranging from ($3.32) to ($2.55). For the next financial year, analysts expect that the business will report earnings of ($3.36) per share, with EPS estimates ranging from ($4.26) to ($2.90). Zacks Investment Research’s earnings per share averages are a mean average based on a survey of analysts that cover Editas Medicine.
Editas Medicine (NASDAQ:EDIT) last announced its quarterly earnings results on Monday, August 6th. The company reported ($0.82) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.15). Editas Medicine had a negative net margin of 623.35% and a negative return on equity of 61.27%. The firm had revenue of $7.37 million for the quarter, compared to the consensus estimate of $7.01 million. During the same period in the previous year, the company posted ($0.65) earnings per share. Editas Medicine’s quarterly revenue was up 137.7% on a year-over-year basis.
EDIT has been the subject of a number of research reports. BidaskClub lowered Editas Medicine from a “hold” rating to a “sell” rating in a research note on Wednesday, August 8th. Raymond James initiated coverage on Editas Medicine in a research note on Friday, September 21st. They set an “outperform” rating and a $40.00 price target for the company. Zacks Investment Research lowered Editas Medicine from a “buy” rating to a “hold” rating in a research note on Thursday, August 9th. Guggenheim initiated coverage on Editas Medicine in a research note on Tuesday. They set a “neutral” rating for the company. Finally, JPMorgan Chase & Co. set a $36.00 price target on Editas Medicine and gave the company a “hold” rating in a research note on Monday, August 6th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $46.50.
In other news, CFO Andrew A. F. Hack sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 31st. The stock was sold at an average price of $32.23, for a total value of $322,300.00. Following the completion of the sale, the chief financial officer now directly owns 10,000 shares of the company’s stock, valued at approximately $322,300. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Vickesh Myer sold 14,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 18th. The shares were sold at an average price of $35.63, for a total value of $498,820.00. Following the completion of the sale, the insider now directly owns 3,000 shares of the company’s stock, valued at $106,890. The disclosure for this sale can be found here. Insiders sold a total of 86,333 shares of company stock valued at $2,751,900 over the last ninety days. Corporate insiders own 5.20% of the company’s stock.
Large investors have recently bought and sold shares of the company. Asset Dedication LLC lifted its stake in shares of Editas Medicine by 4,400.0% in the 2nd quarter. Asset Dedication LLC now owns 4,500 shares of the company’s stock valued at $161,000 after purchasing an additional 4,400 shares during the last quarter. Reynders McVeigh Capital Management LLC purchased a new stake in shares of Editas Medicine in the second quarter worth approximately $202,000. Telos Capital Management Inc. purchased a new stake in shares of Editas Medicine in the second quarter worth approximately $203,000. Element Capital Management LLC purchased a new stake in shares of Editas Medicine in the first quarter worth approximately $201,000. Finally, Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Editas Medicine in the first quarter worth approximately $207,000. 67.18% of the stock is owned by institutional investors and hedge funds.
Shares of Editas Medicine stock opened at $27.32 on Wednesday. Editas Medicine has a 12 month low of $20.29 and a 12 month high of $45.02. The company has a market cap of $1.52 billion, a P/E ratio of -9.17 and a beta of 3.37. The company has a debt-to-equity ratio of 0.14, a current ratio of 14.50 and a quick ratio of 14.50.
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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