Editas Medicine, Inc. (NASDAQ:EDIT – Get Rating) – Oppenheimer issued their Q2 2022 earnings per share (EPS) estimates for shares of Editas Medicine in a research note issued to investors on Thursday, May 5th. Oppenheimer analyst J. Olson forecasts that the company will earn ($0.72) per share for the quarter. Oppenheimer also issued estimates for Editas Medicine’s Q3 2022 earnings at ($0.77) EPS, Q4 2022 earnings at ($0.62) EPS, FY2022 earnings at ($2.85) EPS, FY2023 earnings at ($3.06) EPS, FY2024 earnings at ($3.50) EPS and FY2025 earnings at ($3.91) EPS.
Several other brokerages have also recently weighed in on EDIT. Chardan Capital reduced their price target on shares of Editas Medicine from $75.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, February 25th. SVB Leerink reduced their price target on shares of Editas Medicine from $41.00 to $27.00 and set a “market perform” rating on the stock in a research report on Friday, February 25th. Morgan Stanley boosted their price target on shares of Editas Medicine from $16.00 to $17.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 12th. Zacks Investment Research upgraded shares of Editas Medicine from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research report on Thursday, February 3rd. Finally, Evercore ISI cut shares of Editas Medicine to a “hold” rating and set a $15.00 price target on the stock. in a research report on Friday, February 11th. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $34.40.
Editas Medicine (NASDAQ:EDIT – Get Rating) last issued its quarterly earnings results on Wednesday, May 4th. The company reported ($0.74) earnings per share for the quarter, beating the consensus estimate of ($0.81) by $0.07. The business had revenue of $6.80 million for the quarter, compared to the consensus estimate of $3.85 million. Editas Medicine had a negative net margin of 721.60% and a negative return on equity of 32.88%. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.86) earnings per share.
Institutional investors have recently added to or reduced their stakes in the business. CKW Financial Group purchased a new position in shares of Editas Medicine during the 3rd quarter valued at approximately $28,000. CWM LLC acquired a new stake in shares of Editas Medicine in the 4th quarter worth $30,000. Ahrens Investment Partners LLC acquired a new stake in shares of Editas Medicine in the 4th quarter worth $32,000. C M Bidwell & Associates Ltd. acquired a new stake in shares of Editas Medicine in the 4th quarter worth $38,000. Finally, Manchester Capital Management LLC acquired a new stake in shares of Editas Medicine in the 3rd quarter worth $82,000. Institutional investors and hedge funds own 75.48% of the company’s stock.
About Editas Medicine (Get Rating)
Editas Medicine, Inc, a clinical stage genome editing company, focuses on developing transformative genomic medicines to treat a range of serious diseases. It develops a proprietary gene editing platform based on CRISPR technology. The company develops EDIT-101, which is in Phase 1/2 clinical trial for Leber Congenital Amaurosis 10 that leads to inherited childhood blindness.
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