Editas Medicine (NASDAQ:EDIT – Free Report) had its price objective raised by Truist Financial from $15.00 to $20.00 in a research note published on Tuesday morning, Benzinga reports. The firm currently has a buy rating on the stock.
Several other analysts also recently commented on EDIT. Cantor Fitzgerald downgraded shares of Editas Medicine from an overweight rating to a neutral rating in a research report on Tuesday, October 17th. Stifel Nicolaus raised shares of Editas Medicine from a hold rating to a buy rating and raised their price target for the company from $9.00 to $17.00 in a report on Thursday, September 28th. JPMorgan Chase & Co. raised shares of Editas Medicine from an underweight rating to a neutral rating and set a $8.00 price objective on the stock in a report on Wednesday, October 18th. StockNews.com initiated coverage on shares of Editas Medicine in a report on Thursday, October 5th. They issued a sell rating on the stock. Finally, Citigroup raised shares of Editas Medicine from a neutral rating to a buy rating and set a $11.00 price objective on the stock in a report on Tuesday, October 24th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $14.38.
Check Out Our Latest Stock Analysis on EDIT
Editas Medicine Trading Down 0.7 %
Shares of NASDAQ EDIT opened at $9.84 on Tuesday. Editas Medicine has a 12 month low of $6.08 and a 12 month high of $11.93. The firm has a market capitalization of $803.67 million, a PE ratio of -3.64 and a beta of 1.96. The firm has a fifty day simple moving average of $8.45 and a two-hundred day simple moving average of $8.61.
Editas Medicine (NASDAQ:EDIT – Get Free Report) last issued its quarterly earnings results on Friday, November 3rd. The company reported ($0.55) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.64) by $0.09. Editas Medicine had a negative net margin of 792.70% and a negative return on equity of 54.24%. The company had revenue of $5.34 million during the quarter, compared to analyst estimates of $3.70 million. During the same period last year, the business earned ($0.81) EPS. Editas Medicine’s quarterly revenue was up 1171.4% compared to the same quarter last year. On average, sell-side analysts predict that Editas Medicine will post -2.42 earnings per share for the current year.
Institutional Investors Weigh In On Editas Medicine
A number of hedge funds have recently bought and sold shares of EDIT. Covestor Ltd grew its holdings in shares of Editas Medicine by 9,693.3% in the first quarter. Covestor Ltd now owns 1,469 shares of the company’s stock worth $28,000 after purchasing an additional 1,454 shares during the last quarter. Lazard Asset Management LLC lifted its stake in Editas Medicine by 81.4% in the third quarter. Lazard Asset Management LLC now owns 4,595 shares of the company’s stock worth $35,000 after acquiring an additional 2,062 shares during the period. AXS Investments LLC purchased a new stake in Editas Medicine in the first quarter worth about $38,000. Clear Street Markets LLC purchased a new stake in Editas Medicine in the third quarter worth about $44,000. Finally, Quantbot Technologies LP purchased a new stake in Editas Medicine in the first quarter worth about $44,000. Hedge funds and other institutional investors own 76.61% of the company’s stock.
Editas Medicine Company Profile
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 10; autosomal dominant retinitis pigmentosa; and EDIT-301, a clinical development gene-edited medicine to treat sickle cell disease and transfusion-dependent beta-thalassemia.
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Source: defenseworld.net
