$4.94 Million in Sales Expected for Editas Medicine, Inc. (NASDAQ:EDIT) This Quarter

Equities research analysts expect that Editas Medicine, Inc. (NASDAQ:EDIT) will announce $4.94 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Editas Medicine’s earnings, with the lowest sales estimate coming in at $2.00 million and the highest estimate coming in at $7.50 million. Editas Medicine reported sales of $11.42 million during the same quarter last year, which would suggest a negative year over year growth rate of 56.7%. The firm is expected to announce its next earnings results on Thursday, February 24th.

According to Zacks, analysts expect that Editas Medicine will report full-year sales of $17.39 million for the current financial year, with estimates ranging from $13.10 million to $20.90 million. For the next fiscal year, analysts anticipate that the firm will report sales of $32.08 million, with estimates ranging from $15.00 million to $77.50 million. Zacks’ sales averages are an average based on a survey of research firms that cover Editas Medicine.

Editas Medicine (NASDAQ:EDIT) last issued its earnings results on Monday, November 8th. The company reported ($0.57) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.81) by $0.24. Editas Medicine had a negative return on equity of 38.28% and a negative net margin of 871.91%. The firm had revenue of $6.20 million for the quarter, compared to analyst estimates of $4.92 million. During the same quarter in the prior year, the firm earned $0.12 earnings per share. Editas Medicine’s revenue for the quarter was down 90.1% on a year-over-year basis.

Several equities research analysts have commented on the company. Robert W. Baird restated a “buy” rating on shares of Editas Medicine in a research report on Wednesday, October 20th. Chardan Capital restated a “buy” rating and issued a $75.00 price objective on shares of Editas Medicine in a research report on Thursday, September 30th. Morgan Stanley lowered their price objective on Editas Medicine from $37.00 to $24.00 and set an “underweight” rating on the stock in a research report on Thursday, January 6th. SVB Leerink started coverage on Editas Medicine in a research report on Tuesday, October 19th. They issued a “market perform” rating and a $41.00 price objective on the stock. Finally, Stifel Nicolaus reduced their target price on Editas Medicine from $65.00 to $46.00 and set a “hold” rating for the company in a research note on Thursday, September 30th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $54.29.

In other Editas Medicine news, EVP Lisa Anne Michaels sold 1,568 shares of the stock in a transaction dated Friday, November 12th. The stock was sold at an average price of $38.33, for a total value of $60,101.44. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Michelle Robertson sold 1,744 shares of the stock in a transaction dated Tuesday, January 11th. The shares were sold at an average price of $25.70, for a total value of $44,820.80. The disclosure for this sale can be found here. Insiders sold a total of 17,404 shares of company stock worth $641,581 in the last ninety days. 0.94% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Exchange Traded Concepts LLC raised its position in shares of Editas Medicine by 96.2% during the 4th quarter. Exchange Traded Concepts LLC now owns 51,600 shares of the company’s stock worth $1,370,000 after acquiring an additional 25,298 shares in the last quarter. Green Alpha Advisors LLC raised its position in shares of Editas Medicine by 14.4% during the 4th quarter. Green Alpha Advisors LLC now owns 36,214 shares of the company’s stock worth $961,000 after acquiring an additional 4,552 shares in the last quarter. Patriot Financial Group Insurance Agency LLC raised its position in shares of Editas Medicine by 10.2% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 8,108 shares of the company’s stock worth $215,000 after acquiring an additional 748 shares in the last quarter. UBS Asset Management Americas Inc. raised its position in shares of Editas Medicine by 4.7% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 67,633 shares of the company’s stock worth $2,778,000 after acquiring an additional 3,050 shares in the last quarter. Finally, Moors & Cabot Inc. raised its position in shares of Editas Medicine by 31.6% during the 3rd quarter. Moors & Cabot Inc. now owns 5,201 shares of the company’s stock worth $214,000 after acquiring an additional 1,250 shares in the last quarter. 75.93% of the stock is currently owned by institutional investors and hedge funds.

Editas Medicine stock opened at $22.10 on Friday. Editas Medicine has a 12 month low of $20.90 and a 12 month high of $83.95. The stock’s 50 day simple moving average is $30.51 and its two-hundred day simple moving average is $43.37. The firm has a market cap of $1.51 billion, a PE ratio of -6.82 and a beta of 1.93.

Editas Medicine Company Profile

Editas Medicine, Inc engages in the development and commercialization of genome editing technology. Its technology includes clustered, regularly interspaced short palindromic repeats (CRISPR), and CRISPR associated protein 9 (Cas9). The company was founded by Feng Zhang, Jennifer A. Doudna, George McDonald Church, J.

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

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