Wall Street analysts expect Editas Medicine, Inc. (NASDAQ:EDIT) to post earnings of ($0.79) per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Editas Medicine’s earnings. The lowest EPS estimate is ($1.36) and the highest is ($0.62). Editas Medicine posted earnings of ($1.10) per share during the same quarter last year, which suggests a positive year over year growth rate of 28.2%. The firm is scheduled to announce its next earnings results on Tuesday, March 6th.
According to Zacks, analysts expect that Editas Medicine will report full-year earnings of ($2.92) per share for the current fiscal year, with EPS estimates ranging from ($3.51) to ($2.74). For the next fiscal year, analysts expect that the company will post earnings of ($2.98) per share, with EPS estimates ranging from ($4.33) to ($2.23). Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that follow Editas Medicine.
Editas Medicine (NASDAQ:EDIT) last posted its earnings results on Tuesday, November 7th. The company reported ($0.64) EPS for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.04). Editas Medicine had a negative return on equity of 70.19% and a negative net margin of 1,127.03%. The company had revenue of $6.28 million during the quarter, compared to the consensus estimate of $2.66 million. During the same period last year, the firm posted ($0.59) EPS. The company’s revenue for the quarter was up 553.0% on a year-over-year basis.
EDIT has been the subject of a number of recent research reports. ValuEngine raised shares of Editas Medicine from a “sell” rating to a “hold” rating in a research report on Saturday, September 30th. J P Morgan Chase & Co set a $27.00 price objective on shares of Editas Medicine and gave the company a “hold” rating in a research report on Wednesday, August 9th. Zacks Investment Research downgraded shares of Editas Medicine from a “buy” rating to a “hold” rating in a research report on Monday, November 13th. Cann reaffirmed a “hold” rating on shares of Editas Medicine in a report on Thursday, August 10th. Finally, Cowen and Company reaffirmed a “buy” rating on shares of Editas Medicine in a report on Tuesday, November 7th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $26.73.
In other news, CEO Katrine Bosley sold 10,000 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $20.42, for a total transaction of $204,200.00. Following the sale, the chief executive officer now directly owns 1,414,629 shares in the company, valued at approximately $28,886,724.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders sold 43,332 shares of company stock worth $946,504. Corporate insiders own 19.40% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. IHT Wealth Management LLC purchased a new stake in shares of Editas Medicine during the 2nd quarter valued at about $107,000. Great West Life Assurance Co. Can raised its position in shares of Editas Medicine by 519.9% during the 3rd quarter. Great West Life Assurance Co. Can now owns 4,959 shares of the company’s stock valued at $114,000 after buying an additional 4,159 shares in the last quarter. Bank of America Corp DE raised its position in shares of Editas Medicine by 72.2% during the 1st quarter. Bank of America Corp DE now owns 5,936 shares of the company’s stock valued at $133,000 after buying an additional 2,489 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in shares of Editas Medicine during the 2nd quarter valued at about $127,000. Finally, Legal & General Group Plc raised its position in Editas Medicine by 308.4% in the 2nd quarter. Legal & General Group Plc now owns 8,654 shares of the company’s stock worth $145,000 after purchasing an additional 6,535 shares during the period. Hedge funds and other institutional investors own 67.17% of the company’s stock.
Shares of Editas Medicine (NASDAQ EDIT) opened at $25.05 on Friday. Editas Medicine has a 1 year low of $13.12 and a 1 year high of $29.20. The company has a debt-to-equity ratio of 0.19, a quick ratio of 10.12 and a current ratio of 10.12.
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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