Editas Medicine Inc (EDIT) Expected to Post Quarterly Sales of $3.33 Million
Equities research analysts expect Editas Medicine Inc (NASDAQ:EDIT) to report $3.33 million in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Editas Medicine’s earnings, with the lowest sales estimate coming in at $1.20 million and the highest estimate coming in at $6.28 million. Editas Medicine posted sales of $900,000.00 during the same quarter last year, which suggests a positive year over year growth rate of 270%. The business is expected to report its next earnings report on Tuesday, March 6th.
On average, analysts expect that Editas Medicine will report full-year sales of $3.33 million for the current fiscal year, with estimates ranging from $11.30 million to $16.34 million. For the next year, analysts forecast that the firm will report sales of $19.98 million per share, with estimates ranging from $10.00 million to $39.03 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Editas Medicine.
Several brokerages recently weighed in on EDIT. CLSA began coverage on shares of Editas Medicine in a research report on Tuesday. They issued an “underperform” rating on the stock. BidaskClub raised shares of Editas Medicine from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, January 30th. SunTrust Banks raised shares of Editas Medicine from a “hold” rating to a “buy” rating and raised their price target for the company from $17.00 to $45.00 in a research report on Tuesday, January 23rd. Cann reaffirmed a “hold” rating on shares of Editas Medicine in a research report on Tuesday, November 7th. Finally, Cowen reaffirmed a “buy” rating on shares of Editas Medicine in a research report on Tuesday, November 7th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $30.73.
Institutional investors have recently bought and sold shares of the business. Great West Life Assurance Co. Can lifted its position in shares of Editas Medicine by 519.9% during the 3rd quarter. Great West Life Assurance Co. Can now owns 4,959 shares of the company’s stock worth $114,000 after buying an additional 4,159 shares in the last quarter. Martingale Asset Management L P purchased a new stake in shares of Editas Medicine during the 4th quarter worth approximately $219,000. Plancorp LLC purchased a new stake in shares of Editas Medicine during the 4th quarter worth approximately $235,000. Teacher Retirement System of Texas purchased a new stake in shares of Editas Medicine during the 4th quarter worth approximately $253,000. Finally, Rothschild Investment Corp IL purchased a new stake in shares of Editas Medicine during the 4th quarter worth approximately $263,000. 64.52% of the stock is currently owned by hedge funds and other institutional investors.
Editas Medicine (NASDAQ EDIT) opened at $33.10 on Wednesday. Editas Medicine has a 1 year low of $13.12 and a 1 year high of $41.60. The firm has a market cap of $1,490.17, a PE ratio of -10.22 and a beta of 4.79. The company has a debt-to-equity ratio of 0.19, a current ratio of 10.12 and a quick ratio of 10.12.
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Editas Medicine Company Profile
Editas Medicine, Inc is a genome editing company. It is engaged in treating patients with genetically defined diseases by correcting their disease-causing genes. It operates through developing and commercializing genome editing technology segment. It is developing a genome editing platform based on clustered, regularly interspaced short palindromic repeats (CRISPR) technology.
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