Editas Medicine, Inc. (NASDAQ:EDIT) Given Average Recommendation of "Hold" by Analysts

Key Points

• Editas Medicine, Inc. has received a consensus rating of "Hold" from thirteen analysts, with varying recommendations including two sells, seven holds, three buys, and one strong buy.
• The average target price among analysts is $5.10, while several firms have recently adjusted their target prices, with HC Wainwright maintaining a buy rating at $5.00.
• Editas reported a loss of ($0.63) per share for the quarter, missing expectations, but exceeded revenue forecasts with $3.58 million in revenue compared to an anticipated $1.81 million.

Shares of Editas Medicine, Inc. (NASDAQ:EDIT - Get Free Report) have received an average rating of "Hold" from the thirteen ratings firms that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $5.10.

Several research analysts recently weighed in on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $5.00 target price on shares of Editas Medicine in a report on Friday, September 5th. Robert W. Baird boosted their target price on shares of Editas Medicine from $4.00 to $6.00 and gave the company an "outperform" rating in a research report on Wednesday, August 13th. Wells Fargo & Company upped their price target on shares of Editas Medicine from $3.00 to $4.00 and gave the stock an "equal weight" rating in a research report on Wednesday, September 3rd. Finally, Wall Street Zen downgraded shares of Editas Medicine from a "hold" rating to a "sell" rating in a report on Saturday, August 16th.

Hedge Funds Weigh In On Editas Medicine

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Editas Medicine by 122.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,600,000 shares of the company's stock valued at $3,016,000 after buying an additional 1,430,000 shares during the last quarter. Acadian Asset Management LLC raised its holdings in Editas Medicine by 288.5% in the first quarter. Acadian Asset Management LLC now owns 752,162 shares of the company's stock valued at $869,000 after acquiring an additional 558,567 shares in the last quarter. Two Sigma Advisers LP raised its holdings in shares of Editas Medicine by 46.8% during the fourth quarter. Two Sigma Advisers LP now owns 1,657,000 shares of the company's stock worth $2,104,000 after purchasing an additional 528,000 shares during the period. XTX Topco Ltd raised its holdings in shares of Editas Medicine by 352.5% during the first quarter. XTX Topco Ltd now owns 475,381 shares of the company's stock worth $551,000 after purchasing an additional 370,325 shares during the period. Finally, Nuveen LLC acquired a new stake in shares of Editas Medicine in the 1st quarter worth about $367,000. Institutional investors and hedge funds own 71.90% of the company's stock.

Editas Medicine Price Performance

Shares of Editas Medicine stock opened at $3.37 on Thursday. The business has a 50-day simple moving average of $2.75 and a 200 day simple moving average of $2.08. The firm has a market capitalization of $303.03 million, a price-to-earnings ratio of -1.18 and a beta of 2.16. Editas Medicine has a one year low of $0.91 and a one year high of $3.80.

Editas Medicine (NASDAQ:EDIT - Get Free Report) last posted its earnings results on Tuesday, August 12th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.41) by ($0.22). The company had revenue of $3.58 million for the quarter, compared to analysts' expectations of $1.81 million. Editas Medicine had a negative return on equity of 200.25% and a negative net margin of 608.88%. On average, sell-side analysts expect that Editas Medicine will post -2.71 EPS for the current year.

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; and reni-cel, a clinical development gene-edited medicine to treat sickle cell disease and transfusion-dependent beta-thalassemia.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.