Analysts Expect Editas Medicine Inc (EDIT) Will Post Earnings of -$0.39 Per Share

Wall Street analysts expect Editas Medicine Inc (NASDAQ:EDIT) to announce ($0.39) earnings per share (EPS) for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Editas Medicine’s earnings. The lowest EPS estimate is ($0.73) and the highest is ($0.06). Editas Medicine reported earnings of ($0.84) per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 53.6%. The company is expected to issue its next quarterly earnings report on Tuesday, March 5th.

On average, analysts expect that Editas Medicine will report full-year earnings of ($2.18) per share for the current financial year, with EPS estimates ranging from ($2.55) to ($1.88). For the next financial year, analysts forecast that the business will post earnings of ($2.84) per share, with EPS estimates ranging from ($3.10) to ($2.28). Zacks’ earnings per share averages are an average based on a survey of analysts that cover Editas Medicine.

Editas Medicine (NASDAQ:EDIT) last announced its quarterly earnings data on Wednesday, November 7th. The company reported ($0.32) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.72) by $0.40. The company had revenue of $14.52 million for the quarter, compared to analysts’ expectations of $9.83 million. Editas Medicine had a negative return on equity of 53.15% and a negative net margin of 410.68%. Editas Medicine’s revenue for the quarter was up 131.2% compared to the same quarter last year. During the same period last year, the firm posted ($0.64) EPS.

Several equities analysts recently issued reports on EDIT shares. Raymond James started coverage on Editas Medicine in a research report on Friday, September 21st. They set an “outperform” rating and a $40.00 price target on the stock. BidaskClub lowered Editas Medicine from a “buy” rating to a “hold” rating in a research report on Tuesday, October 2nd. Guggenheim started coverage on Editas Medicine in a research report on Tuesday, October 9th. They set a “neutral” rating on the stock. Zacks Investment Research upgraded Editas Medicine from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a research report on Tuesday, November 13th. Finally, ValuEngine lowered Editas Medicine from a “buy” rating to a “hold” rating in a research report on Friday, December 21st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. Editas Medicine presently has an average rating of “Hold” and a consensus price target of $45.50.

EDIT traded down $0.07 on Friday, hitting $26.14. 648,302 shares of the company were exchanged, compared to its average volume of 923,412. The company has a debt-to-equity ratio of 0.15, a current ratio of 13.14 and a quick ratio of 13.13. Editas Medicine has a 12 month low of $17.80 and a 12 month high of $45.02. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of -8.77 and a beta of 3.07.

In other news, insider Vickesh Myer sold 7,000 shares of the firm’s stock in a transaction that occurred on Friday, January 18th. The stock was sold at an average price of $26.36, for a total value of $184,520.00. Following the completion of the transaction, the insider now owns 3,000 shares in the company, valued at approximately $79,080. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Katrine Bosley sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $31.92, for a total value of $383,040.00. Following the completion of the transaction, the chief executive officer now owns 1,217,066 shares of the company’s stock, valued at approximately $38,848,746.72. The disclosure for this sale can be found here. In the last 90 days, insiders sold 72,284 shares of company stock valued at $1,952,935. 5.20% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ancora Advisors LLC purchased a new position in shares of Editas Medicine in the 3rd quarter valued at approximately $127,000. TRUE Private Wealth Advisors purchased a new position in Editas Medicine during the third quarter valued at $137,000. HBK Sorce Advisory LLC purchased a new position in Editas Medicine during the third quarter valued at $203,000. Tower Research Capital LLC TRC raised its stake in Editas Medicine by 7,045.4% during the third quarter. Tower Research Capital LLC TRC now owns 6,931 shares of the company’s stock valued at $221,000 after buying an additional 6,834 shares during the last quarter. Finally, Edge Wealth Management LLC purchased a new position in Editas Medicine during the fourth quarter valued at $160,000. Institutional investors own 68.76% of the company’s stock.

Editas Medicine Company Profile

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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Earnings History and Estimates for Editas Medicine (NASDAQ:EDIT)

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