Zacks: Brokerages Anticipate Editas Medicine Inc (EDIT) Will Announce Quarterly Sales of $16.30 Million
Wall Street brokerages expect Editas Medicine Inc (NASDAQ:EDIT) to announce sales of $16.30 million for the current quarter, Zacks reports. Four analysts have issued estimates for Editas Medicine’s earnings. The highest sales estimate is $32.00 million and the lowest is $1.50 million. Editas Medicine posted sales of $3.67 million in the same quarter last year, which suggests a positive year over year growth rate of 344.1%. The company is scheduled to report its next quarterly earnings results on Tuesday, March 5th.
According to Zacks, analysts expect that Editas Medicine will report full year sales of $41.49 million for the current fiscal year, with estimates ranging from $27.30 million to $57.82 million. For the next financial year, analysts anticipate that the business will post sales of $33.09 million, with estimates ranging from $20.00 million to $58.10 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Editas Medicine.
Several equities analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Editas Medicine from a “buy” rating to a “hold” rating in a report on Wednesday, January 9th. BidaskClub raised shares of Editas Medicine from a “hold” rating to a “buy” rating in a report on Tuesday, December 4th. ValuEngine lowered shares of Editas Medicine from a “hold” rating to a “sell” rating in a report on Monday, February 4th. Cowen reissued a “buy” rating on shares of Editas Medicine in a report on Tuesday, January 22nd. Finally, Chardan Capital reissued a “buy” rating and issued a $55.00 price target on shares of Editas Medicine in a report on Tuesday, January 22nd. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $42.50.
Institutional investors and hedge funds have recently bought and sold shares of the stock. We Are One Seven LLC bought a new stake in Editas Medicine during the 4th quarter worth about $40,000. Ancora Advisors LLC bought a new stake in Editas Medicine during the 3rd quarter worth about $127,000. TRUE Private Wealth Advisors bought a new stake in Editas Medicine during the 3rd quarter worth about $137,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in Editas Medicine by 34.2% during the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 5,160 shares of the company’s stock worth $113,000 after buying an additional 1,314 shares in the last quarter. Finally, HBK Sorce Advisory LLC bought a new stake in Editas Medicine during the 3rd quarter worth about $203,000. 69.12% of the stock is currently owned by institutional investors and hedge funds.
Shares of EDIT stock traded up $0.22 on Wednesday, hitting $19.97. The stock had a trading volume of 531,083 shares, compared to its average volume of 1,148,200. Editas Medicine has a twelve month low of $17.80 and a twelve month high of $45.02. The firm has a market capitalization of $944.25 million, a price-to-earnings ratio of -6.70 and a beta of 2.56. The company has a quick ratio of 13.13, a current ratio of 13.14 and a debt-to-equity ratio of 0.15.
Editas Medicine Company Profile
Editas Medicine, Inc operates as a genome editing company. It focuses on treating patients with genetically defined diseases by correcting their disease causing genes. The company develops a proprietary genome editing platform based on CRISPR technology to target genetically defined diseases with an initial focus on debilitating illnesses where there are no approved treatments.
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