Equities analysts forecast that Editas Medicine Inc (NASDAQ:EDIT) will post sales of $50.65 million for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Editas Medicine’s earnings. The highest sales estimate is $74.00 million and the lowest is $8.00 million. Editas Medicine reported sales of $6.12 million during the same quarter last year, which indicates a positive year over year growth rate of 727.6%. The firm is expected to issue its next earnings report on Thursday, February 27th.

On average, analysts expect that Editas Medicine will report full year sales of $46.43 million for the current year, with estimates ranging from $9.03 million to $82.25 million. For the next financial year, analysts expect that the firm will report sales of $23.48 million, with estimates ranging from $10.00 million to $41.40 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Editas Medicine.

Editas Medicine (NASDAQ:EDIT) last issued its earnings results on Tuesday, November 12th. The company reported ($0.66) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.73) by $0.07. Editas Medicine had a negative return on equity of 56.53% and a negative net margin of 842.47%. The business had revenue of $3.90 million during the quarter, compared to analysts’ expectations of $4.72 million. During the same period in the prior year, the business earned ($0.32) EPS. The business’s revenue for the quarter was down 73.1% compared to the same quarter last year.

A number of analysts recently weighed in on EDIT shares. ValuEngine raised shares of Editas Medicine from a “hold” rating to a “buy” rating in a research note on Wednesday, November 27th. Morgan Stanley set a $29.00 target price on shares of Editas Medicine and gave the company a “hold” rating in a research report on Friday, August 9th. BidaskClub upgraded shares of Editas Medicine from a “strong sell” rating to a “sell” rating in a report on Thursday, November 28th. Finally, Zacks Investment Research raised shares of Editas Medicine from a “sell” rating to a “hold” rating and set a $25.00 price target for the company in a research report on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. Editas Medicine presently has a consensus rating of “Hold” and an average price target of $34.75.

Shares of Editas Medicine stock traded up $0.42 during trading on Friday, hitting $30.32. 746,823 shares of the stock traded hands, compared to its average volume of 1,059,337. The company has a current ratio of 5.08, a quick ratio of 5.08 and a debt-to-equity ratio of 0.06. The stock’s fifty day simple moving average is $22.84 and its 200 day simple moving average is $23.41. The firm has a market cap of $1.55 billion, a P/E ratio of -13.01 and a beta of 2.64. Editas Medicine has a 52-week low of $17.80 and a 52-week high of $32.46.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC grew its holdings in shares of Editas Medicine by 45.5% during the third quarter. Steward Partners Investment Advisory LLC now owns 1,600 shares of the company’s stock worth $36,000 after buying an additional 500 shares in the last quarter. Mackay Shields LLC increased its stake in shares of Editas Medicine by 1.0% in the 3rd quarter. Mackay Shields LLC now owns 60,926 shares of the company’s stock worth $1,385,000 after acquiring an additional 600 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Editas Medicine by 17.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,261 shares of the company’s stock worth $97,000 after acquiring an additional 618 shares during the last quarter. Coastal Investment Advisors Inc. raised its holdings in shares of Editas Medicine by 4.6% during the 2nd quarter. Coastal Investment Advisors Inc. now owns 16,044 shares of the company’s stock worth $392,000 after acquiring an additional 700 shares during the period. Finally, Commonwealth Equity Services LLC raised its holdings in shares of Editas Medicine by 2.8% during the 2nd quarter. Commonwealth Equity Services LLC now owns 30,752 shares of the company’s stock worth $760,000 after acquiring an additional 850 shares during the period. 86.14% of the stock is owned by hedge funds and other institutional investors.

About Editas Medicine

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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Earnings History and Estimates for Editas Medicine (NASDAQ:EDIT)

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