Zacks: Analysts Expect Editas Medicine Inc (EDIT) to Announce -$0.71 EPS

Wall Street brokerages expect Editas Medicine Inc (NASDAQ:EDIT) to post earnings per share of ($0.71) for the current quarter, according to Zacks Investment Research. Three analysts have issued 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 indicates a negative year-over-year growth rate of 10.9%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, November 6th.

According to Zacks, analysts expect that Editas Medicine will report full year earnings of ($3.00) per share for the current year, with EPS estimates ranging from ($3.32) to ($2.55). For the next year, analysts expect that the company will post earnings of ($3.36) per share, with EPS estimates ranging from ($4.26) to ($2.90). Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that follow Editas Medicine.

Editas Medicine (NASDAQ:EDIT) last posted its earnings results on Monday, August 6th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.67) by ($0.15). Editas Medicine had a negative return on equity of 61.27% and a negative net margin of 623.35%. The firm had revenue of $7.37 million for the quarter, compared to analyst estimates of $7.01 million. During the same period in the previous year, the company posted ($0.65) EPS. Editas Medicine’s revenue was up 137.7% on a year-over-year basis.

Several research firms recently issued reports on EDIT. BidaskClub raised Editas Medicine from a “sell” rating to a “hold” rating in a research note on Tuesday, August 21st. Zacks Investment Research lowered Editas Medicine from a “buy” rating to a “hold” rating in a research note on Thursday, August 9th. JPMorgan Chase & Co. set a $36.00 target price on Editas Medicine and gave the stock a “hold” rating in a research note on Monday, August 6th. ValuEngine raised Editas Medicine from a “hold” rating to a “buy” rating in a research note on Saturday, June 2nd. Finally, Chardan Capital reduced their price target on Editas Medicine from $72.50 to $55.00 and set a “buy” rating on the stock in a research report on Tuesday, May 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $47.43.

In other Editas Medicine news, insider Vickesh Myer sold 14,000 shares of the stock in a transaction dated Tuesday, June 19th. The stock was sold at an average price of $38.26, for a total value of $535,640.00. Following the sale, the insider now owns 4,300 shares of the company’s stock, valued at approximately $164,518. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Katrine Bosley sold 12,000 shares of the stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $30.17, for a total value of $362,040.00. Following the completion of the sale, the chief executive officer now directly owns 1,270,399 shares in the company, valued at approximately $38,327,937.83. The disclosure for this sale can be found here. Insiders sold a total of 91,999 shares of company stock worth $3,212,579 in the last ninety days. 5.20% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in EDIT. BlackRock Inc. increased its holdings in shares of Editas Medicine by 20.7% in the 2nd quarter. BlackRock Inc. now owns 3,455,066 shares of the company’s stock valued at $123,796,000 after acquiring an additional 591,442 shares during the last quarter. ARK Investment Management LLC increased its holdings in shares of Editas Medicine by 34.6% in the 2nd quarter. ARK Investment Management LLC now owns 2,181,572 shares of the company’s stock valued at $78,166,000 after acquiring an additional 561,364 shares during the last quarter. Federated Investors Inc. PA increased its holdings in shares of Editas Medicine by 677.7% in the 1st quarter. Federated Investors Inc. PA now owns 255,100 shares of the company’s stock valued at $8,457,000 after acquiring an additional 222,300 shares during the last quarter. Morgan Stanley increased its holdings in shares of Editas Medicine by 9.9% in the 2nd quarter. Morgan Stanley now owns 2,069,280 shares of the company’s stock valued at $74,142,000 after acquiring an additional 186,018 shares during the last quarter. Finally, JS Capital Management LLC purchased a new position in shares of Editas Medicine in the 2nd quarter valued at about $5,157,000. Institutional investors and hedge funds own 67.25% of the company’s stock.

EDIT traded up $0.10 during mid-day trading on Monday, hitting $30.76. 553,900 shares of the stock were exchanged, compared to its average volume of 1,239,083. Editas Medicine has a 1-year low of $19.05 and a 1-year high of $45.02. The company has a current ratio of 14.50, a quick ratio of 14.50 and a debt-to-equity ratio of 0.14. The firm has a market cap of $1.46 billion, a price-to-earnings ratio of -10.42 and a beta of 3.32.

About Editas Medicine

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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