Equities research analysts predict that Editas Medicine Inc (NASDAQ:EDIT) will announce sales of $4.11 million for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Editas Medicine’s earnings. The lowest sales estimate is $2.00 million and the highest is $8.00 million. Editas Medicine reported sales of $14.52 million in the same quarter last year, which would suggest a negative year over year growth rate of 71.7%. The firm is expected to report its next earnings results on Wednesday, November 6th.
On average, analysts expect that Editas Medicine will report full year sales of $17.45 million for the current fiscal year, with estimates ranging from $4.40 million to $39.03 million. For the next year, analysts anticipate that the company will report sales of $22.23 million, with estimates ranging from $7.53 million to $41.40 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Editas Medicine.
Editas Medicine (NASDAQ:EDIT) last released its earnings results on Tuesday, August 6th. The company reported ($0.69) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.10). Editas Medicine had a negative return on equity of 45.74% and a negative net margin of 412.70%. The firm had revenue of $2.33 million for the quarter, compared to analyst estimates of $6.88 million. During the same period last year, the business earned ($0.82) earnings per share. The firm’s quarterly revenue was down 68.4% compared to the same quarter last year.
A number of equities research analysts recently weighed in on the company. Chardan Capital reissued a “buy” rating and set a $55.00 target price on shares of Editas Medicine in a research report on Thursday, July 25th. ValuEngine raised Editas Medicine from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Morgan Stanley set a $29.00 target price on Editas Medicine and gave the stock a “hold” rating in a research report on Friday, August 9th. Oppenheimer reissued a “hold” rating on shares of Editas Medicine in a research report on Wednesday, May 8th. Finally, BidaskClub raised Editas Medicine from a “sell” rating to a “hold” rating in a research report on Friday, July 12th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $36.40.
A number of institutional investors and hedge funds have recently made changes to their positions in EDIT. Nikko Asset Management Americas Inc. raised its stake in shares of Editas Medicine by 319.8% in the second quarter. Nikko Asset Management Americas Inc. now owns 3,111,700 shares of the company’s stock valued at $76,983,000 after acquiring an additional 2,370,395 shares during the last quarter. ARK Investment Management LLC raised its stake in shares of Editas Medicine by 50.8% in the first quarter. ARK Investment Management LLC now owns 4,559,434 shares of the company’s stock valued at $111,478,000 after acquiring an additional 1,534,945 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Editas Medicine by 109.8% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,514,927 shares of the company’s stock valued at $37,479,000 after acquiring an additional 792,931 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Editas Medicine by 9.0% in the second quarter. Vanguard Group Inc. now owns 4,290,861 shares of the company’s stock valued at $106,156,000 after acquiring an additional 355,256 shares during the last quarter. Finally, American Century Companies Inc. bought a new position in shares of Editas Medicine in the fourth quarter valued at approximately $7,887,000. Hedge funds and other institutional investors own 81.70% of the company’s stock.
EDIT stock traded up $0.27 during trading on Thursday, reaching $25.36. 518,631 shares of the stock were exchanged, compared to its average volume of 840,093. Editas Medicine has a twelve month low of $17.80 and a twelve month high of $33.80. The company has a market capitalization of $1.19 billion, a P/E ratio of -10.88 and a beta of 2.53. The stock has a 50 day simple moving average of $24.76 and a 200-day simple moving average of $23.56. The company has a current ratio of 8.46, a quick ratio of 8.46 and a debt-to-equity ratio of 0.07.
Editas Medicine Company Profile
Editas Medicine, Inc operates as a clinical stage genome editing company. The company focuses on developing transformative genomic medicines to treat a range of serious diseases. It develops a proprietary genome editing platform based on CRISPR technology to target genetically addressable diseases and therapeutic areas.
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