Editas Medicine (NASDAQ:EDIT – Get Free Report) had its price target hoisted by analysts at Citigroup from $11.00 to $16.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s target price suggests a potential upside of 51.95% from the company’s current price.
EDIT has been the topic of several other research reports. JPMorgan Chase & Co. boosted their price target on Editas Medicine from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Tuesday. Barclays lifted their price objective on Editas Medicine from $10.00 to $11.00 and gave the company an “equal weight” rating in a research report on Thursday. StockNews.com downgraded Editas Medicine from a “hold” rating to a “sell” rating in a research report on Thursday, February 22nd. Finally, Truist Financial lifted their price objective on Editas Medicine from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, December 12th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $15.00.
View Our Latest Report on EDIT
Editas Medicine Stock Performance
Shares of EDIT stock opened at $10.53 on Thursday. Editas Medicine has a twelve month low of $6.08 and a twelve month high of $11.91. The company has a market capitalization of $860.03 million, a price-to-earnings ratio of -5.14 and a beta of 1.96. The stock’s 50 day simple moving average is $8.60 and its 200 day simple moving average is $8.61.
Editas Medicine (NASDAQ:EDIT – Get Free Report) last announced its quarterly earnings data on Wednesday, February 28th. The company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.52) by $0.29. Editas Medicine had a negative return on equity of 42.65% and a negative net margin of 196.12%. The company had revenue of $60.00 million for the quarter, compared to analyst estimates of $4.84 million. During the same quarter last year, the firm earned ($0.88) EPS. Editas Medicine’s revenue for the quarter was up 817.4% compared to the same quarter last year. On average, analysts forecast that Editas Medicine will post -2.48 EPS for the current fiscal year.
Institutional Investors Weigh In On Editas Medicine
A number of institutional investors and hedge funds have recently made changes to their positions in EDIT. Marshall Wace LLP bought a new stake in shares of Editas Medicine during the second quarter worth $23,359,000. State Street Corp raised its position in shares of Editas Medicine by 43.8% during the second quarter. State Street Corp now owns 7,879,890 shares of the company’s stock worth $93,219,000 after acquiring an additional 2,399,852 shares during the last quarter. Ghisallo Capital Management LLC bought a new stake in shares of Editas Medicine during the second quarter worth $8,021,000. BlackRock Inc. raised its position in shares of Editas Medicine by 15.5% during the first quarter. BlackRock Inc. now owns 6,275,270 shares of the company’s stock worth $119,355,000 after acquiring an additional 841,894 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Editas Medicine by 40.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,392,396 shares of the company’s stock valued at $24,236,000 after purchasing an additional 690,366 shares during the last quarter. Institutional investors own 76.61% 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 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: americanbankingnews.com
