Editas Medicine, Inc. (NASDAQ:EDIT) Given Consensus Rating of “Hold” by Brokerages

by · The Cerbat Gem

Shares of Editas Medicine, Inc. (NASDAQ:EDIT – Get Free Report) have received an average rating of “Hold” from the fourteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $7.00.

EDIT has been the subject of several analyst reports. JPMorgan Chase & Co. lowered shares of Editas Medicine from a “neutral” rating to an “underweight” rating in a report on Monday, December 16th. Chardan Capital reissued a “neutral” rating on shares of Editas Medicine in a research note on Friday, December 13th. Bank of America cut shares of Editas Medicine from a “buy” rating to an “underperform” rating and cut their price target for the company from $13.00 to $1.00 in a research report on Monday, November 25th. Royal Bank of Canada lowered their price objective on Editas Medicine from $5.00 to $4.00 and set a “sector perform” rating for the company in a research report on Friday, December 13th. Finally, Raymond James lowered Editas Medicine from an “outperform” rating to a “market perform” rating in a research report on Monday, November 4th.

Check Out Our Latest Stock Report on EDIT

Editas Medicine Stock Up 5.8 %

NASDAQ EDIT opened at $1.27 on Friday. The company has a market capitalization of $104.84 million, a price-to-earnings ratio of -0.50 and a beta of 1.87. Editas Medicine has a twelve month low of $1.16 and a twelve month high of $11.58. The stock has a fifty day simple moving average of $2.28 and a 200 day simple moving average of $3.54.

Editas Medicine (NASDAQ:EDIT – Get Free Report) last released its quarterly earnings results on Monday, November 4th. The company reported ($0.75) EPS for the quarter, meeting analysts’ consensus estimates of ($0.75). Editas Medicine had a negative return on equity of 80.13% and a negative net margin of 340.96%. The firm had revenue of $0.06 million for the quarter, compared to analyst estimates of $3.93 million. During the same quarter in the previous year, the company posted ($0.55) EPS. The business’s revenue was down 98.9% on a year-over-year basis. Research analysts expect that Editas Medicine will post -2.59 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Editas Medicine

Large investors have recently modified their holdings of the company. Millennium Management LLC raised its holdings in Editas Medicine by 10.0% during the second quarter. Millennium Management LLC now owns 2,459,629 shares of the company’s stock worth $11,486,000 after buying an additional 223,012 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its position in shares of Editas Medicine by 133.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 529,834 shares of the company’s stock worth $1,807,000 after acquiring an additional 302,652 shares in the last quarter. Integral Health Asset Management LLC raised its holdings in shares of Editas Medicine by 50.0% in the 2nd quarter. Integral Health Asset Management LLC now owns 675,000 shares of the company’s stock worth $3,152,000 after acquiring an additional 225,000 shares during the last quarter. BNP Paribas Financial Markets lifted its position in Editas Medicine by 37.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 54,787 shares of the company’s stock valued at $187,000 after acquiring an additional 14,888 shares in the last quarter. Finally, FMR LLC boosted its stake in Editas Medicine by 110.7% during the 3rd quarter. FMR LLC now owns 203,087 shares of the company’s stock valued at $693,000 after purchasing an additional 106,684 shares during the last quarter. 71.90% of the stock is currently owned by institutional investors.

Editas Medicine Company Profile

(Get Free Report

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.

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