Equities research analysts expect Editas Medicine Inc (NASDAQ:EDIT) to post sales of $3.33 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Editas Medicine’s earnings, with the highest sales estimate coming in at $6.28 million and the lowest estimate coming in at $1.20 million. Editas Medicine posted sales of $900,000.00 in the same quarter last year, which would indicate a positive year over year growth rate of 270%. The company is scheduled to announce its next earnings results on Tuesday, March 6th.
On average, analysts expect that Editas Medicine will report full-year sales of $3.33 million for the current year, with estimates ranging from $11.30 million to $16.34 million. For the next financial year, analysts expect that the firm will report sales of $19.98 million per share, with estimates ranging from $10.00 million to $39.03 million. Zacks’ sales averages are an average based on a survey of analysts that cover Editas Medicine.
EDIT has been the topic of a number of recent research reports. SunTrust Banks raised Editas Medicine from a “hold” rating to a “buy” rating and increased their target price for the stock from $17.00 to $45.00 in a research note on Tuesday, January 23rd. BidaskClub raised 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 Editas Medicine from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a research report on Friday, November 10th. Finally, Cann reaffirmed a “hold” rating on shares of Editas Medicine in a research report on Friday. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating, four have given a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $30.02.
Institutional investors have recently added to or reduced their stakes in the stock. Great West Life Assurance Co. Can lifted its holdings in 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 acquiring an additional 4,159 shares during the period. Glenmede Trust Co. NA bought a new position in Editas Medicine in the fourth quarter valued at about $153,000. Royal Bank of Canada lifted its holdings in 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 acquiring an additional 372 shares during the period. Martingale Asset Management L P bought a new position in Editas Medicine in the fourth quarter valued at about $219,000. Finally, Plancorp LLC bought a new position in Editas Medicine in the fourth quarter valued at about $235,000. 64.52% of the stock is currently owned by institutional investors.
Editas Medicine (NASDAQ EDIT) traded down $0.97 during midday trading on Wednesday, hitting $33.82. The stock had a trading volume of 1,192,473 shares, 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 stock has a market capitalization of $1,490.00 and a PE ratio of -10.44. The company has a debt-to-equity ratio of 0.19, a quick ratio of 10.12 and a current ratio of 10.12.
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Editas Medicine Company Profile
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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