Editas Medicine, Inc. (NASDAQ:EDIT) Given Average Recommendation of “Hold” by Brokerages

Posted by on May 22nd, 2022

Editas Medicine, Inc. (NASDAQ:EDIT – Get Rating) has been assigned an average recommendation of “Hold” from the eleven analysts that are covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $34.40.

Several research firms have recently weighed in on EDIT. Morgan Stanley boosted their target price on Editas Medicine from $16.00 to $17.00 and gave the company an “underweight” rating in a report on Tuesday, April 12th. Oppenheimer reduced their target price on Editas Medicine from $55.00 to $28.00 in a report on Thursday, May 5th. Zacks Investment Research raised Editas Medicine from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a report on Thursday, February 3rd. Robert W. Baird reduced their target price on Editas Medicine from $44.00 to $33.00 in a report on Monday, April 18th. Finally, Barclays reduced their target price on Editas Medicine from $39.00 to $18.00 in a report on Friday, February 25th.

NASDAQ:EDIT opened at $11.02 on Friday. The stock has a 50-day simple moving average of $15.80 and a 200-day simple moving average of $21.66. The stock has a market cap of $756.41 million, a P/E ratio of -4.04 and a beta of 2.06. Editas Medicine has a 1 year low of $9.71 and a 1 year high of $73.03.

Editas Medicine (NASDAQ:EDIT – Get Rating) last released its quarterly earnings data on Wednesday, May 4th. The company reported ($0.74) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.81) by $0.07. The business had revenue of $6.80 million during the quarter, compared to analysts’ expectations of $3.85 million. Editas Medicine had a negative return on equity of 32.88% and a negative net margin of 721.60%. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.86) EPS. As a group, research analysts forecast that Editas Medicine will post -3.41 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of EDIT. Russell Investments Group Ltd. grew its holdings in shares of Editas Medicine by 62.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 35,431 shares of the company’s stock worth $1,454,000 after acquiring an additional 13,614 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Editas Medicine by 5.9% in the 3rd quarter. Principal Financial Group Inc. now owns 28,048 shares of the company’s stock worth $1,152,000 after acquiring an additional 1,562 shares during the period. Barclays PLC grew its holdings in shares of Editas Medicine by 42.7% in the 3rd quarter. Barclays PLC now owns 90,739 shares of the company’s stock worth $3,727,000 after acquiring an additional 27,145 shares during the period. Teacher Retirement System of Texas grew its holdings in shares of Editas Medicine by 32.7% in the 3rd quarter. Teacher Retirement System of Texas now owns 10,697 shares of the company’s stock worth $439,000 after acquiring an additional 2,634 shares during the period. Finally, AlphaCrest Capital Management LLC acquired a new stake in shares of Editas Medicine in the 3rd quarter worth approximately $466,000. 75.48% of the stock is owned by institutional investors and hedge funds.

Editas Medicine Company Profile (Get Rating)

Editas Medicine, Inc, a clinical stage genome editing company, focuses on developing transformative genomic medicines to treat a range of serious diseases. It develops a proprietary gene editing platform based on CRISPR technology. The company develops EDIT-101, which is in Phase 1/2 clinical trial for Leber Congenital Amaurosis 10 that leads to inherited childhood blindness.

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