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

Editas Medicine, Inc. (NASDAQ:EDIT) has received a consensus recommendation of “Hold” from the thirteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $7.92.

A number of research firms have issued reports on EDIT. Chardan Capital reiterated a “buy” rating and issued a $12.00 target price on shares of Editas Medicine in a research report on Tuesday, November 5th. Royal Bank of Canada lowered their price objective on shares of Editas Medicine from $8.00 to $5.00 and set a “sector perform” rating for the company in a research report on Tuesday, November 5th. Bank of America lowered shares of Editas Medicine from a “buy” rating to an “underperform” rating and cut their target price for the company from $13.00 to $1.00 in a research report on Monday, November 25th. Wells Fargo & Company lowered their price target on shares of Editas Medicine from $9.00 to $7.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Finally, Raymond James downgraded Editas Medicine from an “outperform” rating to a “market perform” rating in a report on Monday, November 4th.

Editas Medicine Stock Performance

EDIT opened at $2.14 on Monday. The stock has a fifty day moving average of $2.89 and a 200-day moving average of $4.02. The company has a market capitalization of $176.65 million, a P/E ratio of -0.84 and a beta of 1.86. Editas Medicine has a fifty-two week low of $1.89 and a fifty-two week high of $11.58.

Editas Medicine (NASDAQ:EDIT) last issued its quarterly earnings data on Monday, November 4th. The company reported ($0.75) earnings per share for the quarter, hitting the consensus estimate of ($0.75). Editas Medicine had a negative net margin of 340.96% and a negative return on equity of 80.13%. The business had revenue of $0.06 million during the quarter, compared to analysts’ expectations of $3.93 million. During the same quarter in the previous year, the company earned ($0.55) EPS. The business’s revenue was down 98.9% on a year-over-year basis. On average, equities research analysts predict that Editas Medicine will post -2.63 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Editas Medicine

A number of institutional investors have recently made changes to their positions in the stock. Millennium Management LLC lifted its stake in shares of Editas Medicine by 10.0% in the second quarter. Millennium Management LLC now owns 2,459,629 shares of the company’s stock worth $11,486,000 after acquiring an additional 223,012 shares during the period. Integral Health Asset Management LLC lifted its position 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 purchasing an additional 225,000 shares during the period. Vanguard Group Inc. boosted its stake in shares of Editas Medicine by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 8,555,597 shares of the company’s stock valued at $63,483,000 after purchasing an additional 93,740 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Editas Medicine by 16.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 49,704 shares of the company’s stock worth $369,000 after buying an additional 7,174 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new position in Editas Medicine during the third quarter worth $240,000. Institutional investors own 71.90% of the company’s stock.

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.