Editas Medicine, Inc. (NASDAQ:EDIT) Receives $3.88 Average Price Target from Brokerages

Editas Medicine, Inc. (NASDAQ:EDIT) has been assigned an average recommendation of “Hold” from the thirteen research firms that are covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation, three have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $3.8750.

Several analysts recently weighed in on EDIT shares. Wells Fargo & Company increased their target price on Editas Medicine from $3.00 to $4.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 3rd. HC Wainwright reissued a “buy” rating and issued a $5.00 price objective on shares of Editas Medicine in a research report on Friday, September 5th. Wall Street Zen upgraded shares of Editas Medicine from a “sell” rating to a “hold” rating in a research note on Friday, September 26th. Chardan Capital raised shares of Editas Medicine from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 13th. Finally, Robert W. Baird increased their price target on shares of Editas Medicine from $4.00 to $6.00 and gave the company an “outperform” rating in a report on Wednesday, August 13th.

Institutional Investors Weigh In On Editas Medicine

Institutional investors have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Editas Medicine by 13.5% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 51,105 shares of the company’s stock valued at $112,000 after acquiring an additional 6,088 shares during the period. BNP Paribas Financial Markets raised its holdings in Editas Medicine by 33.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 27,168 shares of the company’s stock worth $94,000 after purchasing an additional 6,787 shares during the last quarter. Victory Capital Management Inc. acquired a new position in Editas Medicine during the 3rd quarter valued at about $36,000. Captrust Financial Advisors acquired a new position in Editas Medicine during the 2nd quarter valued at about $26,000. Finally, Sei Investments Co. bought a new position in shares of Editas Medicine in the 3rd quarter valued at about $46,000. 71.90% of the stock is owned by institutional investors and hedge funds.

Editas Medicine Price Performance

Shares of EDIT opened at $2.62 on Friday. The company has a market capitalization of $255.76 million, a PE ratio of -1.10 and a beta of 2.23. Editas Medicine has a one year low of $0.91 and a one year high of $4.54. The company’s fifty day moving average price is $3.23 and its 200 day moving average price is $2.64.

Editas Medicine (NASDAQ:EDIT) last released its quarterly earnings results on Monday, November 10th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.10. The company had revenue of $7.54 million during the quarter, compared to analysts’ expectations of $4.95 million. Editas Medicine had a negative net margin of 430.84% and a negative return on equity of 277.29%. Analysts anticipate that Editas Medicine will post -2.71 earnings per share for the current year.

About Editas Medicine

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 BRILLIANCE trial for Leber Congenital Amaurosis; and reni-cel, a clinical development gene-edited medicine to treat sickle cell disease and transfusion-dependent beta-thalassemia.