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

Key Points

• Analyst consensus: Seven analysts give Editas Medicine a consensus rating of "Moderate Buy" (five buys, one hold, one sell) with an average 1‑year price target of $5.40.
• Quarterly results: Editas reported EPS of -$0.26, beating estimates of -$0.30, but revenue of $2.83M missed the $6.37M consensus and the company remains deeply unprofitable (net margin -281.59%, ROE -677.39%); analysts expect -1.12 EPS for the year.
• Market profile: Shares trade near $3.03 with a market cap of about $297M, a 52‑week range of $1.29–$4.54, and roughly 71.9% of the stock held by institutional investors.

Shares of Editas Medicine, Inc. (NASDAQ:EDIT - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the seven analysts that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $5.40.

A number of analysts have recently issued reports on EDIT shares. Wall Street Zen raised shares of Editas Medicine from a "sell" rating to a "hold" rating in a report on Saturday, May 2nd. Chardan Capital lifted their price objective on shares of Editas Medicine from $3.50 to $4.00 and gave the stock a "buy" rating in a report on Tuesday. JonesTrading raised shares of Editas Medicine from a "hold" rating to a "buy" rating and set a $8.00 price objective for the company in a report on Tuesday, March 10th. TD Cowen reaffirmed a "buy" rating on shares of Editas Medicine in a report on Monday, March 9th. Finally, Robert W. Baird set a $6.00 price objective on shares of Editas Medicine in a report on Monday, March 9th.

Editas Medicine Price Performance

Shares of NASDAQ:EDIT opened at $3.03 on Friday. The firm has a fifty day moving average price of $2.68 and a two-hundred day moving average price of $2.47. Editas Medicine has a one year low of $1.29 and a one year high of $4.54. The company has a market cap of $296.67 million, a price-to-earnings ratio of -2.46 and a beta of 2.14.

Editas Medicine (NASDAQ:EDIT - Get Free Report) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.30) by $0.04. Editas Medicine had a negative net margin of 281.59% and a negative return on equity of 677.39%. The company had revenue of $2.83 million during the quarter, compared to the consensus estimate of $6.37 million. Equities research analysts expect that Editas Medicine will post -1.12 EPS for the current fiscal year.

Institutional Trading of Editas Medicine

A number of hedge funds have recently made changes to their positions in EDIT. Captrust Financial Advisors bought a new stake in shares of Editas Medicine during the 2nd quarter worth $26,000. StoneX Group Inc. bought a new stake in Editas Medicine in the fourth quarter worth $33,000. Victory Capital Management Inc. bought a new stake in Editas Medicine in the third quarter worth $36,000. Abel Hall LLC bought a new stake in Editas Medicine in the first quarter worth $36,000. Finally, Sei Investments Co. bought a new stake in Editas Medicine in the third quarter worth $46,000. 71.90% of the stock is owned by institutional investors.

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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