Analysts Set Editas Medicine, Inc. (NASDAQ:EDIT) Target Price at $33.20

Editas Medicine, Inc. (NASDAQ:EDITGet Rating) has received an average rating of “Hold” from the eleven analysts that are covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $33.20.

A number of equities analysts have weighed in on EDIT shares. SVB Leerink reduced their price target on Editas Medicine from $41.00 to $27.00 and set a “market perform” rating for the company in a research report on Friday, February 25th. The Goldman Sachs Group dropped their price objective on Editas Medicine from $10.00 to $8.00 and set a “sell” rating on the stock in a research note on Tuesday, May 24th. Chardan Capital dropped their price objective on Editas Medicine from $75.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, February 25th. Oppenheimer dropped their price objective on Editas Medicine from $55.00 to $28.00 in a research note on Thursday, May 5th. Finally, Robert W. Baird dropped their price objective on Editas Medicine from $44.00 to $33.00 in a research note on Monday, April 18th.

Shares of EDIT opened at $12.09 on Thursday. The stock has a 50 day simple moving average of $12.54 and a 200 day simple moving average of $17.99. Editas Medicine has a 52-week low of $9.59 and a 52-week high of $73.03. The firm has a market capitalization of $829.86 million, a PE ratio of -4.43 and a beta of 2.07.

Editas Medicine (NASDAQ:EDITGet Rating) last released its quarterly earnings results on Wednesday, May 4th. The company reported ($0.74) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.07. Editas Medicine had a negative return on equity of 32.88% and a negative net margin of 721.60%. The firm had revenue of $6.80 million during the quarter, compared to the consensus estimate of $3.85 million. During the same quarter in the prior year, the firm posted ($0.86) EPS. The business’s revenue was up 4.6% on a year-over-year basis. As a group, research analysts anticipate that Editas Medicine will post -3.41 EPS for the current fiscal year.

In related news, EVP Mark S. Shearman sold 5,145 shares of the stock in a transaction on Wednesday, June 15th. The stock was sold at an average price of $10.06, for a total value of $51,758.70. Following the sale, the executive vice president now owns 68,349 shares in the company, valued at approximately $687,590.94. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders sold 9,350 shares of company stock worth $110,940. 0.94% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of EDIT. Bank of America Corp DE grew its holdings in shares of Editas Medicine by 11.8% during the 1st quarter. Bank of America Corp DE now owns 305,029 shares of the company’s stock worth $5,802,000 after purchasing an additional 32,084 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Editas Medicine during the 1st quarter worth $44,000. Royal Bank of Canada grew its holdings in shares of Editas Medicine by 25.6% during the 1st quarter. Royal Bank of Canada now owns 76,852 shares of the company’s stock worth $1,461,000 after purchasing an additional 15,684 shares in the last quarter. Guggenheim Capital LLC grew its holdings in shares of Editas Medicine by 27.8% during the 1st quarter. Guggenheim Capital LLC now owns 54,660 shares of the company’s stock worth $1,040,000 after purchasing an additional 11,891 shares in the last quarter. Finally, Woodline Partners LP acquired a new stake in shares of Editas Medicine during the 1st quarter worth $435,000. Hedge funds and other institutional investors own 75.48% of the company’s stock.

About Editas Medicine (Get Rating)

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 clinical trial for Leber Congenital Amaurosis 10 that leads to inherited childhood blindness.

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