Zacks: Analysts Anticipate Editas Medicine Inc (EDIT) Will Announce Earnings of -$0.79 Per Share
Equities research analysts expect Editas Medicine Inc (NASDAQ:EDIT) to report earnings per share (EPS) of ($0.79) for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Editas Medicine’s earnings, with estimates ranging from ($1.36) to ($0.62). Editas Medicine reported earnings per share of ($1.10) during the same quarter last year, which indicates a positive year over year growth rate of 28.2%. The company is expected to issue its next earnings report on Tuesday, March 6th.
On average, analysts expect that Editas Medicine will report full year earnings of ($2.92) per share for the current fiscal year, with EPS estimates ranging from ($3.51) to ($2.74). For the next financial year, analysts forecast that the firm will report earnings of ($3.01) per share, with EPS estimates ranging from ($4.33) to ($2.36). Zacks’ EPS calculations are an average based on a survey of sell-side research firms that that provide coverage for Editas Medicine.
A number of brokerages have commented on EDIT. Zacks Investment Research raised Editas Medicine from a “sell” rating to a “hold” rating in a research note on Monday, October 16th. ValuEngine cut Editas Medicine from a “hold” rating to a “sell” rating in a research note on Wednesday, October 25th. Cowen reaffirmed a “buy” rating on shares of Editas Medicine in a research note on Tuesday, November 7th. Cann reaffirmed a “hold” rating on shares of Editas Medicine in a research note on Tuesday, November 7th. Finally, BidaskClub cut Editas Medicine from a “buy” rating to a “hold” rating in a research note on Thursday, December 7th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. Editas Medicine currently has an average rating of “Buy” and an average price target of $30.73.
In related news, CFO Andrew A. F. Hack sold 5,000 shares of the company’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $24.81, for a total value of $124,050.00. Following the sale, the chief financial officer now directly owns 5,000 shares of the company’s stock, valued at $124,050. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Katrine Bosley sold 20,000 shares of the company’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $38.79, for a total value of $775,800.00. Following the completion of the sale, the insider now directly owns 1,354,431 shares in the company, valued at $52,538,378.49. The disclosure for this sale can be found here. Insiders have sold 84,648 shares of company stock worth $2,687,509 over the last three months. Insiders own 19.40% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. First Midwest Bank Trust Division purchased a new stake in Editas Medicine in the third quarter worth $1,349,000. Nisa Investment Advisors LLC grew its stake in Editas Medicine by 221.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 71,400 shares of the company’s stock worth $2,194,000 after purchasing an additional 49,200 shares during the period. American Century Companies Inc. purchased a new stake in Editas Medicine in the third quarter worth $7,497,000. Arrowstreet Capital Limited Partnership purchased a new stake in Editas Medicine in the second quarter worth $285,000. Finally, GSA Capital Partners LLP purchased a new stake in Editas Medicine in the third quarter worth $667,000. 64.52% of the stock is currently owned by institutional investors.
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Editas Medicine Company Profile
Editas Medicine, Inc is a genome editing company. It 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) technology.
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