Brokerages predict that Editas Medicine Inc (NASDAQ:EDIT) will announce earnings of ($0.60) per share for the current quarter, Zacks reports. Two analysts have issued estimates for Editas Medicine’s earnings. The lowest EPS estimate is ($0.80) and the highest is ($0.45). Editas Medicine posted earnings per share of ($0.82) in the same quarter last year, which would indicate a positive year-over-year growth rate of 26.8%. The company is scheduled to report its next quarterly earnings results on Monday, August 5th.

On average, analysts expect that Editas Medicine will report full-year earnings of ($2.55) per share for the current year, with EPS estimates ranging from ($3.13) to ($1.87). For the next fiscal year, analysts forecast that the business will report earnings of ($2.85) per share, with EPS estimates ranging from ($3.15) to ($2.55). Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that follow Editas Medicine.

Editas Medicine (NASDAQ:EDIT) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.57) by ($0.03). The business had revenue of $2.07 million during the quarter, compared to the consensus estimate of $7.62 million. Editas Medicine had a negative return on equity of 46.94% and a negative net margin of 359.93%. The company’s revenue for the quarter was down 47.3% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.67) earnings per share.

A number of research analysts have weighed in on EDIT shares. Zacks Investment Research raised shares of Editas Medicine from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research report on Tuesday, March 5th. Cowen reissued a “buy” rating on shares of Editas Medicine in a research report on Tuesday, January 22nd. Chardan Capital reissued a “buy” rating and set a $55.00 target price on shares of Editas Medicine in a research report on Tuesday, January 22nd. BTIG Research started coverage on shares of Editas Medicine in a research report on Thursday, February 7th. They set a “buy” rating and a $30.00 target price for the company. Finally, BidaskClub raised shares of Editas Medicine from a “hold” rating to a “buy” rating in a research report on Thursday, April 25th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $37.80.

Editas Medicine stock traded down $2.18 on Monday, reaching $22.27. 861,828 shares of the stock were exchanged, compared to its average volume of 943,698. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of -9.56 and a beta of 2.48. The company has a debt-to-equity ratio of 0.14, a current ratio of 10.44 and a quick ratio of 10.44. Editas Medicine has a twelve month low of $17.80 and a twelve month high of $41.43.

In other news, insider Vickesh Myer sold 3,000 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $24.50, for a total transaction of $73,500.00. Following the completion of the transaction, the insider now owns 3,000 shares of the company’s stock, valued at $73,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jessica Hopfield acquired 10,200 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were bought at an average cost of $23.94 per share, with a total value of $244,188.00. Following the transaction, the director now directly owns 16,900 shares of the company’s stock, valued at approximately $404,586. The disclosure for this purchase can be found here. 5.20% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. ARK Investment Management LLC raised its position in shares of Editas Medicine by 50.8% during the first quarter. ARK Investment Management LLC now owns 4,559,434 shares of the company’s stock valued at $111,478,000 after buying an additional 1,534,945 shares during the last quarter. BlackRock Inc. raised its position in shares of Editas Medicine by 2.9% during the first quarter. BlackRock Inc. now owns 3,788,345 shares of the company’s stock valued at $92,625,000 after buying an additional 106,811 shares during the last quarter. Vanguard Group Inc increased its stake in Editas Medicine by 3.9% in the third quarter. Vanguard Group Inc now owns 3,729,579 shares of the company’s stock valued at $118,675,000 after acquiring an additional 141,609 shares during the period. Vanguard Group Inc. increased its stake in Editas Medicine by 3.9% in the third quarter. Vanguard Group Inc. now owns 3,729,579 shares of the company’s stock valued at $118,675,000 after acquiring an additional 141,609 shares during the period. Finally, Ontario Teachers Pension Plan Board bought a new stake in Editas Medicine in the fourth quarter valued at about $19,746,000. 71.61% of the stock is owned by institutional investors and hedge funds.

About Editas Medicine

Editas Medicine, Inc operates as a clinical stage genome editing company. The company focuses on developing transformative genomic medicines to treat a range of serious diseases. It develops a proprietary genome editing platform based on CRISPR technology to target genetically addressable diseases and therapeutic areas.

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Earnings History and Estimates for Editas Medicine (NASDAQ:EDIT)

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