Zacks Research Forecasts Editas Medicine FY2028 Earnings

Editas Medicine, Inc. (NASDAQ:EDIT) – Research analysts at Zacks Research issued their FY2028 earnings per share estimates for shares of Editas Medicine in a report issued on Monday, March 23rd. Zacks Research analyst Team forecasts that the company will earn ($1.34) per share for the year. The consensus estimate for Editas Medicine’s current full-year earnings is ($2.71) per share.

Editas Medicine (NASDAQ:EDIT) last announced its quarterly earnings results on Monday, March 9th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.21. The business had revenue of $24.74 million for the quarter, compared to the consensus estimate of $8.77 million. Editas Medicine had a negative net margin of 395.02% and a negative return on equity of 389.73%.

A number of other equities analysts have also recently weighed in on EDIT. Robert W. Baird set a $6.00 price target on shares of Editas Medicine in a research report on Monday, March 9th. Weiss Ratings restated a “sell (e+)” rating on shares of Editas Medicine in a research report on Wednesday, January 21st. JonesTrading raised Editas Medicine from a “hold” rating to a “buy” rating and set a $8.00 price objective on the stock in a research note on Tuesday, March 10th. Chardan Capital reiterated a “buy” rating and set a $3.50 target price on shares of Editas Medicine in a report on Monday, March 9th. Finally, TD Cowen reissued a “buy” rating on shares of Editas Medicine in a research note on Monday, March 9th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Editas Medicine presently has a consensus rating of “Moderate Buy” and a consensus price target of $5.30.

Editas Medicine Stock Performance

Shares of NASDAQ:EDIT opened at $2.25 on Tuesday. The company has a 50 day moving average price of $2.09 and a two-hundred day moving average price of $2.56. The company has a market capitalization of $220.21 million, a PE ratio of -1.19 and a beta of 2.16. Editas Medicine has a 52 week low of $0.91 and a 52 week high of $4.54.

Institutional Investors Weigh In On Editas Medicine

Several large investors have recently made changes to their positions in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Editas Medicine by 122.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,600,000 shares of the company’s stock valued at $3,016,000 after acquiring an additional 1,430,000 shares in the last quarter. Acadian Asset Management LLC increased its holdings in Editas Medicine by 288.5% during the 1st quarter. Acadian Asset Management LLC now owns 752,162 shares of the company’s stock worth $869,000 after purchasing an additional 558,567 shares in the last quarter. Geode Capital Management LLC increased its holdings in Editas Medicine by 1.1% during the 2nd quarter. Geode Capital Management LLC now owns 1,964,298 shares of the company’s stock worth $4,323,000 after purchasing an additional 20,521 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Editas Medicine by 15.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,065,722 shares of the company’s stock worth $2,345,000 after purchasing an additional 140,916 shares in the last quarter. Finally, Kennedy Capital Management LLC raised its stake in shares of Editas Medicine by 7.8% in the 2nd quarter. Kennedy Capital Management LLC now owns 567,619 shares of the company’s stock valued at $1,249,000 after purchasing an additional 40,879 shares during the period. Institutional investors own 71.90% of the company’s stock.

Editas Medicine Company Profile

Editas Medicine is a clinical-stage biotechnology company focused on translating the power of gene editing into a new class of transformative genomic medicines. Founded in 2013 and headquartered in Cambridge, Massachusetts, the company leverages proprietary CRISPR/Cas9 and CRISPR/Cas12a (Cpf1) platforms to develop therapies aimed at correcting disease-causing genetic mutations. Editas Medicine’s research and development efforts span multiple therapeutic areas, including inherited retinal diseases, hemoglobinopathies, and oncology.

The company’s pipeline includes EDIT-101, a lead candidate designed to treat Leber congenital amaurosis type 10 (LCA10), which has entered early-stage clinical trials, and EDIT-301, targeting sickle cell disease and β-thalassemia using an ex vivo editing approach.