Editas Medicine, Inc. (NASDAQ:EDIT) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Analysts give Editas a consensus rating of Moderate Buy from eight covering firms (1 sell, 1 hold, 5 buy, 1 strong buy) with an average 1‑year target price of $5.30.
• In its latest quarter Editas reported EPS of ($0.06) versus consensus (−$0.27) and revenue of $24.74M versus $8.77M, showing a material revenue beat despite ongoing net losses.
• Shares opened at $2.35 (12‑month range $0.91–$4.54) with a market cap of about $230M, and institutional investors now own roughly 71.9% of the stock after recent inflows from firms like LPL Financial.

Shares of Editas Medicine, Inc. (NASDAQ:EDIT - Get Free Report) have been given a consensus rating of "Moderate Buy" by the eight analysts that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $5.30.

Several brokerages have commented on EDIT. Robert W. Baird set a $6.00 target price on Editas Medicine in a report on Monday, March 9th. JonesTrading raised Editas Medicine from a "hold" rating to a "buy" rating and set a $8.00 target price for the company in a research note on Tuesday, March 10th. TD Cowen reiterated a "buy" rating on shares of Editas Medicine in a report on Monday, March 9th. Weiss Ratings reissued a "sell (e+)" rating on shares of Editas Medicine in a research note on Wednesday, January 21st. Finally, Chardan Capital restated a "buy" rating and set a $3.50 price target on shares of Editas Medicine in a report on Monday, March 9th.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. LPL Financial LLC grew its holdings in Editas Medicine by 56.6% in the fourth quarter. LPL Financial LLC now owns 64,856 shares of the company's stock worth $133,000 after purchasing an additional 23,443 shares during the period. BNP Paribas Financial Markets raised its holdings in shares of Editas Medicine by 33.3% during the third quarter. BNP Paribas Financial Markets now owns 27,168 shares of the company's stock valued at $94,000 after purchasing an additional 6,787 shares during the period. Virtu Financial LLC acquired a new position in shares of Editas Medicine during the fourth quarter valued at about $89,000. CANADA LIFE ASSURANCE Co boosted its position in shares of Editas Medicine by 279.1% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 31,938 shares of the company's stock worth $70,000 after purchasing an additional 23,513 shares in the last quarter. Finally, Sei Investments Co. bought a new position in shares of Editas Medicine during the 3rd quarter worth about $46,000. Institutional investors and hedge funds own 71.90% of the company's stock.

Editas Medicine Trading Down 4.5%

Editas Medicine stock opened at $2.35 on Thursday. The stock has a 50-day moving average price of $2.07 and a two-hundred day moving average price of $2.56. Editas Medicine has a 12 month low of $0.91 and a 12 month high of $4.54. The company has a market capitalization of $229.99 million, a PE ratio of -1.24 and a beta of 2.16.

Editas Medicine (NASDAQ:EDIT - Get Free Report) last released its quarterly earnings results on Monday, March 9th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.21. Editas Medicine had a negative return on equity of 389.73% and a negative net margin of 395.02%.The company had revenue of $24.74 million for the quarter, compared to analysts' expectations of $8.77 million. As a group, analysts predict that Editas Medicine will post -2.71 earnings per share for the current fiscal year.

Editas Medicine Company Profile

Editas Medicine is a clinical-stage biotechnology company focused on translating the power of gene editing into a new class of transformative genomic medicines. Founded in 2013 and headquartered in Cambridge, Massachusetts, the company leverages proprietary CRISPR/Cas9 and CRISPR/Cas12a (Cpf1) platforms to develop therapies aimed at correcting disease-causing genetic mutations. Editas Medicine's research and development efforts span multiple therapeutic areas, including inherited retinal diseases, hemoglobinopathies, and oncology.

The company's pipeline includes EDIT-101, a lead candidate designed to treat Leber congenital amaurosis type 10 (LCA10), which has entered early-stage clinical trials, and EDIT-301, targeting sickle cell disease and β-thalassemia using an ex vivo editing approach.

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