Editas Medicine, Inc. (NASDAQ:EDIT) Stock Has Average Target Price of $5.80

Shares of Editas Medicine, Inc. (NASDAQ:EDIT) have earned a consensus recommendation of “Moderate Buy” from the seven analysts that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation and six have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $5.83.

A number of equities analysts recently weighed in on the stock. Guggenheim raised shares of Editas Medicine from a “neutral” rating to a “buy” rating and set a $5.00 price target on the stock in a report on Wednesday, September 23rd. Wells Fargo & Company raised shares of Editas Medicine from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $4.00 to $6.00 in a report on Thursday. LADENBURG THALM/SH SH began coverage on shares of Editas Medicine in a report on Tuesday, August 18th. They issued a “buy” rating and a $6.00 price target on the stock. Wall Street Zen upgraded Editas Medicine from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Weiss Ratings upgraded shares of Editas Medicine from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th.

Key Headlines Impacting Editas Medicine

Here are the key news stories impacting Editas Medicine this week:

• Positive Sentiment: EDIT-401 cleared to enter human trials: Australian regulators approved initiation of the Phase 1/2 Strive trial in patients with heterozygous familial hypercholesterolemia who need additional LDL-cholesterol reduction. Editas expects to begin dosing this year and report initial safety and tolerability data in the first quarter of 2027. Editas Medicine Receives Approval to Initiate First-In-Human Clinical Trial of EDIT-401
• Positive Sentiment: Promising preclinical data support the program: In non-human primate studies, EDIT-401 reportedly reduced LDL cholesterol and other harmful blood fats by approximately 90%, while additional data are expected at the American Heart Association Scientific Sessions. These results could strengthen the potential value of a one-time gene-editing treatment, though they do not guarantee success in humans. Editas Medicine Gets Clearance for First Human Trial of Gene-Editing Drug
• Positive Sentiment: Wells Fargo upgraded Editas to Overweight from Equal Weight and raised its price target to $6 from $4. The new target implies substantial upside from the recent trading level and reflects increased optimism about EDIT-401’s potential and the company’s prospects into 2027. Wells Fargo Upgrades Editas Medicine to Overweight
• Neutral Sentiment: Short-interest data appear inconsistent: The report lists short interest at zero shares and a zero-day days-to-cover ratio despite describing a large increase. This likely reflects a data or reporting anomaly and provides little reliable information about current trading sentiment.
• Negative Sentiment: Clinical and financial risks remain significant: EDIT-401 is entering its first human study, so safety, durability and cholesterol-lowering performance are unproven in patients. Editas also remains loss-making, making future financing needs and clinical setbacks important risks for shareholders.

Editas Medicine Price Performance

Shares of EDIT stock opened at $2.90 on Monday. The firm has a 50-day moving average of $2.86 and a 200-day moving average of $2.89. Editas Medicine has a one year low of $1.66 and a one year high of $4.33. The company has a market cap of $445.38 million, a P/E ratio of -3.87 and a beta of 2.00.

Editas Medicine (NASDAQ:EDIT) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.12. The business had revenue of $11.89 million for the quarter, compared to analysts’ expectations of $2.85 million. Editas Medicine had a negative net margin of 157.32% and a negative return on equity of 196.63%. As a group, research analysts expect that Editas Medicine will post -0.80 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Editas Medicine

A number of large investors have recently made changes to their positions in the business. Legal & General Group Plc purchased a new position in Editas Medicine during the 2nd quarter valued at $31,000. Abel Hall LLC purchased a new stake in Editas Medicine during the 1st quarter valued at about $36,000. Pallas Capital Advisors LLC purchased a new position in Editas Medicine in the 2nd quarter worth approximately $38,000. State of Wyoming bought a new position in shares of Editas Medicine during the first quarter valued at $43,000. Finally, Callan Family Office LLC purchased a new stake in shares of Editas Medicine during the 2nd quarter valued at about $47,000. 71.90% of the stock is currently owned by institutional investors.

Editas Medicine Company Profile

Editas Medicine, Inc is a biotechnology company focused on developing genomic medicines that use CRISPR-based gene-editing technologies to treat diseases caused by genetic abnormalities. The company’s research programs are designed to modify or correct disease-associated genes in patients’ cells, with the goal of developing potentially durable treatments.

Its lead investigational program is reni-cel, formerly known as EDIT-301, an ex vivo CRISPR gene-editing therapy being studied for sickle cell disease and transfusion-dependent beta thalassemia.