Jefferies Group Analysts Raise Earnings Estimates for Editas Medicine Inc. (EDIT)
Editas Medicine Inc. (NASDAQ:EDIT) – Equities research analysts at Jefferies Group increased their FY2016 EPS estimates for Editas Medicine in a research note issued to investors on Monday. Jefferies Group analyst G. Wang now forecasts that the firm will post earnings per share of ($2.54) for the year, up from their previous forecast of ($2.75). Jefferies Group has a “Buy” rating on the stock. Jefferies Group also issued estimates for Editas Medicine’s Q4 2016 earnings at ($0.67) EPS, FY2017 earnings at ($2.66) EPS, FY2018 earnings at ($2.86) EPS, FY2019 earnings at ($2.41) EPS and FY2020 earnings at ($2.57) EPS.
Separately, Zacks Investment Research upgraded Editas Medicine from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a report on Thursday. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $30.75.
Editas Medicine (NASDAQ:EDIT) opened at 15.11 on Thursday. Editas Medicine has a 52-week low of $12.43 and a 52-week high of $43.99. The firm’s market cap is $534.95 million. The company’s 50 day moving average price is $14.07 and its 200 day moving average price is $23.02.
Editas Medicine (NASDAQ:EDIT) last posted its quarterly earnings data on Monday, November 7th. The company reported ($0.59) earnings per share for the quarter, topping the consensus estimate of ($0.64) by $0.05. Editas Medicine had a negative return on equity of 69.15% and a negative net margin of 1,184.46%. The business earned $1 million during the quarter, compared to analysts’ expectations of $1 million. The business’s quarterly revenue was up 49.3% compared to the same quarter last year.
In other news, major shareholder Kevin P. Starr sold 5,890 shares of the firm’s stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $15.90, for a total value of $93,651.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Polaris Venture Management Co. sold 500,000 shares of the firm’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $16.80, for a total value of $8,400,000.00. The disclosure for this sale can be found here.
Institutional investors have recently made changes to their positions in the stock. Nationwide Fund Advisors bought a new position in shares of Editas Medicine during the second quarter valued at $115,000. BlackRock Group LTD acquired a new position in Editas Medicine during the third quarter worth approximately $117,000. BlackRock Advisors LLC boosted its position in Editas Medicine by 11.2% in the third quarter. BlackRock Advisors LLC now owns 9,817 shares of the company’s stock worth $132,000 after buying an additional 990 shares during the last quarter. PARK CIRCLE Co acquired a new position in Editas Medicine during the third quarter worth approximately $135,000. Finally, Metropolitan Life Insurance Co. NY acquired a new position in Editas Medicine during the second quarter worth approximately $181,000. Institutional investors own 61.13% of the company’s stock.
About Editas Medicine
Editas Medicine, Inc, formerly Gengine, Inc, is a genome editing company. The Company is engaged in treating patients with genetically defined diseases by correcting their disease-causing genes. It operates through developing and commercializing genome editing technology segment. It is developing a genome editing platform based on clustered, regularly interspaced short palindromic repeats (CRISPR)/CRISPR associated protein 9 (Cas9) technology.
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