Brokerages Expect Editas Medicine, Inc. (NASDAQ:EDIT) to Announce -$0.84 EPS

Brokerages expect Editas Medicine, Inc. (NASDAQ:EDIT – Get Rating) to announce ($0.84) earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Editas Medicine’s earnings, with estimates ranging from ($0.93) to ($0.72). Editas Medicine reported earnings of ($0.81) per share in the same quarter last year, which suggests a negative year-over-year growth rate of 3.7%. The business is expected to report its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Editas Medicine will report full-year earnings of ($3.41) per share for the current financial year, with EPS estimates ranging from ($3.83) to ($2.85). For the next fiscal year, analysts forecast that the firm will post earnings of ($3.38) per share, with EPS estimates ranging from ($3.85) to ($2.90). Zacks’ earnings per share averages are an average based on a survey of research firms that that provide coverage for Editas Medicine.

Editas Medicine (NASDAQ:EDIT – Get Rating) last posted its quarterly earnings results on Wednesday, May 4th. The company reported ($0.74) EPS for the quarter, topping the consensus estimate of ($0.81) by $0.07. The firm had revenue of $6.80 million for the quarter, compared to the consensus estimate of $3.85 million. Editas Medicine had a negative net margin of 721.60% and a negative return on equity of 32.88%. The business’s revenue was up 4.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.86) earnings per share.

A number of brokerages recently issued reports on EDIT. Oppenheimer dropped their price target on shares of Editas Medicine from $55.00 to $28.00 in a research note on Thursday, May 5th. SVB Leerink reduced their price target on shares of Editas Medicine from $41.00 to $27.00 and set a “market perform” rating for the company in a research report on Friday, February 25th. Morgan Stanley upped their price target on shares of Editas Medicine from $16.00 to $17.00 and gave the company an “underweight” rating in a research report on Tuesday, April 12th. Evercore ISI lowered shares of Editas Medicine to a “hold” rating and set a $15.00 price target for the company. in a research report on Friday, February 11th. Finally, StockNews.com started coverage on shares of Editas Medicine in a research report on Thursday, March 31st. They set a “sell” rating for the company. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $32.00.

NASDAQ:EDIT traded up $0.37 during trading hours on Friday, hitting $11.91. The company had a trading volume of 1,140,117 shares, compared to its average volume of 1,575,571. The company has a market capitalization of $817.50 million, a PE ratio of -4.36 and a beta of 2.07. The stock has a 50-day moving average price of $14.48 and a 200 day moving average price of $19.66. Editas Medicine has a 52 week low of $9.71 and a 52 week high of $73.03.

Hedge funds have recently bought and sold shares of the business. First Republic Investment Management Inc. bought a new position in shares of Editas Medicine during the 3rd quarter valued at approximately $206,000. Rockefeller Capital Management L.P. boosted its position in shares of Editas Medicine by 214.0% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 7,893 shares of the company’s stock valued at $323,000 after acquiring an additional 5,379 shares during the last quarter. GSA Capital Partners LLP bought a new position in shares of Editas Medicine during the 3rd quarter valued at approximately $282,000. Franklin Resources Inc. boosted its position in shares of Editas Medicine by 92.1% during the 3rd quarter. Franklin Resources Inc. now owns 8,849 shares of the company’s stock valued at $363,000 after acquiring an additional 4,243 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Editas Medicine by 12.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 709,766 shares of the company’s stock valued at $29,160,000 after acquiring an additional 80,735 shares during the last quarter. Institutional investors and hedge funds own 75.48% of the company’s stock.

About Editas Medicine (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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