Editas Medicine, Inc. (NASDAQ:EDIT) Receives $6.00 Average Target Price from Analysts

Shares of Editas Medicine, Inc. (NASDAQ:EDIT) have received an average rating of “Moderate Buy” from the five research firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating and four have issued a buy rating on the company. The average 1 year target price among analysts that have covered the stock in the last year is $6.00.

Several equities analysts recently weighed in on the stock. TD Cowen restated a “buy” rating on shares of Editas Medicine in a report on Wednesday, May 27th. Wall Street Zen upgraded shares of Editas Medicine from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. LADENBURG THALM/SH SH began coverage on Editas Medicine in a research note on Tuesday, August 18th. They issued a “buy” rating and a $6.00 price target on the stock. Finally, Weiss Ratings raised Editas Medicine from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th.

Editas Medicine Trading Up 1.9%

Shares of NASDAQ:EDIT opened at $2.70 on Thursday. Editas Medicine has a 1-year low of $1.66 and a 1-year high of $4.54. The stock has a market capitalization of $414.67 million, a P/E ratio of -3.60 and a beta of 2.09. The business has a 50-day moving average price of $2.98 and a two-hundred day moving average price of $2.83.

Editas Medicine (NASDAQ:EDIT) last issued its earnings results on Wednesday, August 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.12. Editas Medicine had a negative net margin of 157.32% and a negative return on equity of 196.63%. The company had revenue of $11.89 million for the quarter, compared to analyst estimates of $2.85 million. As a group, equities analysts predict that Editas Medicine will post -0.8 EPS for the current year.

Hedge Funds Weigh In On Editas Medicine

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc bought a new stake in shares of Editas Medicine in the 2nd quarter valued at about $31,000. Victory Capital Management Inc. bought a new position in Editas Medicine during the 3rd quarter worth approximately $36,000. Pallas Capital Advisors LLC acquired a new position in Editas Medicine during the second quarter valued at approximately $38,000. Captrust Financial Advisors acquired a new position in Editas Medicine during the second quarter valued at approximately $26,000. Finally, Sei Investments Co. bought a new stake in Editas Medicine in the third quarter valued at approximately $46,000. Institutional investors own 71.90% of the company’s stock.

About Editas Medicine

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 ?-thalassemia using an ex vivo editing approach.