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

Key Points

• Editas Medicine, Inc. has received a consensus rating of "Hold" from fourteen brokerages, with three analysts rating it as a sell and three as a buy.
• The average 12-month price target for Editas Medicine is currently $5.10, with varying estimates from different analysts ranging from $4.00 to $6.00.
• Editas reported a loss of $0.63 EPS for its last quarter, missing expectations, while its revenue reached $3.58 million, exceeding consensus estimates of $1.81 million.

Shares of Editas Medicine, Inc. (NASDAQ:EDIT - Get Free Report) have received a consensus rating of "Hold" from the fourteen brokerages that are currently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $5.10.

Several brokerages have issued reports on EDIT. Wall Street Zen upgraded Editas Medicine from a "sell" rating to a "hold" rating in a report on Friday, September 26th. Wells Fargo & Company increased their price target on Editas Medicine from $3.00 to $4.00 and gave the stock an "equal weight" rating in a report on Wednesday, September 3rd. HC Wainwright restated a "buy" rating and issued a $5.00 price target on shares of Editas Medicine in a report on Friday, September 5th. Weiss Ratings restated a "sell (e+)" rating on shares of Editas Medicine in a report on Wednesday, October 8th. Finally, Robert W. Baird increased their price target on Editas Medicine from $4.00 to $6.00 and gave the stock an "outperform" rating in a report on Wednesday, August 13th.

Editas Medicine Trading Down 4.8%

NASDAQ EDIT opened at $3.77 on Monday. The stock has a 50-day simple moving average of $3.07 and a 200 day simple moving average of $2.37. The company has a market capitalization of $339.00 million, a PE ratio of -1.32 and a beta of 2.18. Editas Medicine has a 12 month low of $0.91 and a 12 month high of $4.54.

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

Institutional Investors Weigh In On Editas Medicine

Several large investors have recently modified their holdings of the business. State of Wyoming increased its holdings in shares of Editas Medicine by 49.8% in the second quarter. State of Wyoming now owns 66,427 shares of the company's stock worth $146,000 after acquiring an additional 22,069 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in shares of Editas Medicine by 279.1% during the second quarter. CANADA LIFE ASSURANCE Co now owns 31,938 shares of the company's stock worth $70,000 after buying an additional 23,513 shares in the last quarter. Captrust Financial Advisors bought a new position in shares of Editas Medicine during the second quarter worth about $26,000. Bridgeway Capital Management LLC grew its holdings in shares of Editas Medicine by 500.0% during the second quarter. Bridgeway Capital Management LLC now owns 120,000 shares of the company's stock worth $264,000 after buying an additional 100,000 shares in the last quarter. Finally, Kennedy Capital Management LLC grew its holdings in shares of Editas Medicine by 7.8% during the second quarter. Kennedy Capital Management LLC now owns 567,619 shares of the company's stock worth $1,249,000 after buying an additional 40,879 shares in the last quarter. 71.90% of the stock is currently owned by institutional investors.

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.

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