Chardan Capital set a $55.00 price objective on Editas Medicine (NASDAQ:EDIT) in a research note published on Sunday morning, TipRanks reports. The firm currently has a buy rating on the stock.

Several other analysts have also recently commented on the company. BidaskClub cut Editas Medicine from a hold rating to a sell rating in a research report on Friday, June 7th. Zacks Investment Research cut Editas Medicine from a buy rating to a hold rating in a research report on Friday, May 10th. Oppenheimer reiterated a hold rating on shares of Editas Medicine in a research report on Wednesday, May 8th. Evercore ISI assumed coverage on Editas Medicine in a research report on Thursday, April 11th. They set an outperform rating for the company. Finally, ValuEngine upgraded Editas Medicine from a sell rating to a hold rating in a research report on Friday, March 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. Editas Medicine presently has a consensus rating of Hold and a consensus target price of $37.80.

Shares of EDIT opened at $22.70 on Friday. The company has a current ratio of 8.46, a quick ratio of 8.46 and a debt-to-equity ratio of 0.07. Editas Medicine has a one year low of $17.80 and a one year high of $41.43.

Editas Medicine (NASDAQ:EDIT) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.60) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.57) by ($0.03). Editas Medicine had a negative return on equity of 47.64% and a negative net margin of 359.93%. The firm had revenue of $2.07 million for the quarter, compared to analysts’ expectations of $7.62 million. During the same quarter in the previous year, the firm posted ($0.67) earnings per share. The firm’s revenue for the quarter was down 47.3% compared to the same quarter last year. On average, sell-side analysts forecast that Editas Medicine will post -2.52 EPS for the current year.

Several institutional investors and hedge funds have recently modified their holdings of EDIT. Creative Planning boosted its stake in Editas Medicine by 7.6% during the first quarter. Creative Planning now owns 26,504 shares of the company’s stock worth $648,000 after buying an additional 1,879 shares during the last quarter. Capital Impact Advisors LLC boosted its stake in Editas Medicine by 10.9% during the fourth quarter. Capital Impact Advisors LLC now owns 63,637 shares of the company’s stock worth $1,319,000 after buying an additional 6,231 shares during the last quarter. 361 Capital LLC acquired a new position in Editas Medicine during the fourth quarter worth $2,097,000. Squarepoint Ops LLC boosted its stake in Editas Medicine by 49.8% during the fourth quarter. Squarepoint Ops LLC now owns 84,319 shares of the company’s stock worth $1,918,000 after buying an additional 28,019 shares during the last quarter. Finally, FDx Advisors Inc. acquired a new position in Editas Medicine during the fourth quarter worth $241,000. Hedge funds and other institutional investors own 75.43% of the company’s stock.

Editas Medicine Company Profile

Editas Medicine, Inc operates as a clinical stage genome editing company. The company focuses on developing transformative genomic medicines to treat a range of serious diseases. It develops a proprietary genome editing platform based on CRISPR technology to target genetically addressable diseases and therapeutic areas.

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Analyst Recommendations for Editas Medicine (NASDAQ:EDIT)

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