Editas Medicine, Inc. (NASDAQ:EDIT) Receives Consensus Recommendation of “Hold” from Analysts

Editas Medicine, Inc. (NASDAQ:EDIT) has been given an average rating of “Hold” by the twelve ratings firms that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation, three have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $4.2857.

Several research firms have recently commented on EDIT. HC Wainwright restated a “buy” rating and issued a $5.00 target price on shares of Editas Medicine in a research note on Friday, September 5th. Wells Fargo & Company increased their price target on shares of Editas Medicine from $3.00 to $4.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 3rd. Wall Street Zen raised Editas Medicine from a “sell” rating to a “hold” rating in a report on Friday, September 26th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Editas Medicine in a research report on Wednesday, October 8th. Finally, Robert W. Baird raised their price target on Editas Medicine from $4.00 to $6.00 and gave the company an “outperform” rating in a report on Wednesday, August 13th.

Editas Medicine Stock Performance

NASDAQ:EDIT opened at $2.42 on Tuesday. Editas Medicine has a 12-month low of $0.91 and a 12-month high of $4.54. The stock’s 50 day simple moving average is $3.07 and its 200-day simple moving average is $2.73. The firm has a market cap of $236.24 million, a P/E ratio of -1.02 and a beta of 2.44.

Editas Medicine (NASDAQ:EDIT) last issued its quarterly earnings results on Monday, November 10th. The company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.38) by $0.10. Editas Medicine had a negative return on equity of 277.29% and a negative net margin of 430.84%.The firm had revenue of $7.54 million during the quarter, compared to the consensus estimate of $4.95 million. Research analysts forecast that Editas Medicine will post -2.71 EPS for the current fiscal year.

Institutional Investors Weigh In On Editas Medicine

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC raised its position in shares of Editas Medicine by 13.5% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 51,105 shares of the company’s stock worth $112,000 after buying an additional 6,088 shares during the period. BNP Paribas Financial Markets grew its position in Editas Medicine by 33.3% during the third quarter. BNP Paribas Financial Markets now owns 27,168 shares of the company’s stock valued at $94,000 after acquiring an additional 6,787 shares during the period. Victory Capital Management Inc. acquired a new stake in Editas Medicine during the third quarter worth about $36,000. Captrust Financial Advisors purchased a new position in shares of Editas Medicine in the 2nd quarter worth about $26,000. Finally, Sei Investments Co. purchased a new position in shares of Editas Medicine in the 3rd quarter worth about $46,000. Institutional investors and hedge funds own 71.90% of the company’s stock.

About Editas Medicine

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 BRILLIANCE trial for Leber Congenital Amaurosis; and reni-cel, a clinical development gene-edited medicine to treat sickle cell disease and transfusion-dependent beta-thalassemia.