Analysts expect that Editas Medicine Inc (NASDAQ:EDIT) will post earnings per share (EPS) of ($0.79) for the current quarter, according to Zacks. Three analysts have provided estimates for Editas Medicine’s earnings, with the highest EPS estimate coming in at ($0.62) and the lowest estimate coming in at ($1.36). Editas Medicine reported earnings of ($1.10) per share during the same quarter last year, which suggests a positive year over year growth rate of 28.2%. The business is expected to report its next quarterly earnings report on Tuesday, March 6th.
According to Zacks, analysts expect that Editas Medicine will report full-year earnings of ($2.92) per share for the current financial year, with EPS estimates ranging from ($3.51) to ($2.74). For the next financial year, analysts expect that the company will post earnings of ($3.01) per share, with EPS estimates ranging from ($4.33) to ($2.36). Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that that provide coverage for Editas Medicine.
Several research analysts recently weighed in on EDIT shares. SunTrust Banks upgraded shares of Editas Medicine from a “hold” rating to a “buy” rating and upped their price target for the stock from $17.00 to $45.00 in a research report on Tuesday, January 23rd. BidaskClub raised shares of Editas Medicine from a “hold” rating to a “buy” rating in a research note on Wednesday, December 27th. Cowen reissued a “buy” rating on shares of Editas Medicine in a research note on Tuesday, November 7th. Zacks Investment Research raised shares of Editas Medicine from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research note on Friday, November 10th. Finally, Cann reissued a “hold” rating on shares of Editas Medicine in a research note on Friday. Three investment analysts have rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $30.02.
Several hedge funds have recently modified their holdings of EDIT. Great West Life Assurance Co. Can lifted its stake in shares of Editas Medicine by 519.9% in the third quarter. Great West Life Assurance Co. Can now owns 4,959 shares of the company’s stock valued at $114,000 after purchasing an additional 4,159 shares during the period. Legal & General Group Plc lifted its stake in shares of Editas Medicine by 308.4% in the second quarter. Legal & General Group Plc now owns 8,654 shares of the company’s stock valued at $145,000 after purchasing an additional 6,535 shares during the period. Glenmede Trust Co. NA acquired a new stake in shares of Editas Medicine in the fourth quarter valued at about $153,000. Royal Bank of Canada lifted its stake in shares of Editas Medicine by 4.1% in the second quarter. Royal Bank of Canada now owns 9,364 shares of the company’s stock valued at $157,000 after purchasing an additional 372 shares during the period. Finally, Martingale Asset Management L P acquired a new stake in shares of Editas Medicine in the fourth quarter valued at about $219,000. Hedge funds and other institutional investors own 64.52% of the company’s stock.
Editas Medicine (EDIT) traded down $0.97 on Monday, hitting $33.82. 1,192,473 shares of the company traded hands, compared to its average volume of 1,800,000. Editas Medicine has a 52-week low of $13.12 and a 52-week high of $41.60. The company has a debt-to-equity ratio of 0.19, a quick ratio of 10.12 and a current ratio of 10.12. The firm has a market cap of $1,490.00 and a P/E ratio of -10.44.
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About Editas Medicine
Editas Medicine, Inc is a genome editing company. It is engaged in treating patients with genetically defined diseases by correcting their disease-causing genes. It operates through developing and commercializing genome editing technology segment. It is developing a genome editing platform based on clustered, regularly interspaced short palindromic repeats (CRISPR) technology.
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