Editas Medicine, Inc. (NASDAQ:EDIT) to Post Q1 2023 Earnings of ($5.49) Per Share, SVB Leerink Forecasts

Editas Medicine, Inc. (NASDAQ:EDITGet Rating) – Equities research analysts at SVB Leerink issued their Q1 2023 earnings per share (EPS) estimates for Editas Medicine in a report released on Monday, January 23rd. SVB Leerink analyst M. Foroohar forecasts that the company will post earnings of ($5.49) per share for the quarter. SVB Leerink has a “Market Perform” rating and a $7.00 price objective on the stock. The consensus estimate for Editas Medicine’s current full-year earnings is ($3.15) per share. SVB Leerink also issued estimates for Editas Medicine’s Q2 2023 earnings at ($10.20) EPS, Q3 2023 earnings at ($19.58) EPS, Q4 2023 earnings at ($38.38) EPS and FY2023 earnings at ($2.60) EPS.

EDIT has been the subject of a number of other reports. Bank of America decreased their price target on Editas Medicine from $18.00 to $15.00 and set a “neutral” rating for the company in a report on Friday, November 18th. Evercore ISI dropped their target price on shares of Editas Medicine to $8.00 in a research report on Monday, November 21st. Chardan Capital lowered their price target on shares of Editas Medicine from $43.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, November 17th. Citigroup started coverage on shares of Editas Medicine in a report on Tuesday, December 13th. They issued a “neutral” rating and a $11.00 price target on the stock. Finally, Robert W. Baird decreased their target price on Editas Medicine from $25.00 to $18.00 and set an “outperform” rating on the stock in a research note on Friday, November 18th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $16.86.

Editas Medicine Trading Up 7.9 %

Shares of EDIT opened at $8.83 on Wednesday. Editas Medicine has a 52 week low of $7.70 and a 52 week high of $21.59. The stock has a fifty day moving average of $9.37 and a 200-day moving average of $12.66.

Editas Medicine (NASDAQ:EDITGet Rating) last issued its quarterly earnings results on Wednesday, November 2nd. The company reported ($0.81) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.87) by $0.06. Editas Medicine had a negative return on equity of 41.33% and a negative net margin of 784.32%. The business had revenue of $0.04 million for the quarter, compared to the consensus estimate of $5.86 million.

Hedge Funds Weigh In On Editas Medicine

A number of hedge funds have recently modified their holdings of EDIT. State Street Corp increased its position in shares of Editas Medicine by 43.8% in the second quarter. State Street Corp now owns 7,879,890 shares of the company’s stock valued at $93,219,000 after acquiring an additional 2,399,852 shares during the period. Woodline Partners LP increased its position in shares of Editas Medicine by 4,346.2% during the second quarter. Woodline Partners LP now owns 1,016,891 shares of the company’s stock valued at $12,030,000 after buying an additional 994,020 shares during the period. BlackRock Inc. increased its position in shares of Editas Medicine by 15.5% during the first quarter. BlackRock Inc. now owns 6,275,270 shares of the company’s stock valued at $119,355,000 after buying an additional 841,894 shares during the period. Renaissance Technologies LLC increased its position in shares of Editas Medicine by 296.1% during the first quarter. Renaissance Technologies LLC now owns 903,400 shares of the company’s stock valued at $17,183,000 after buying an additional 675,300 shares during the period. Finally, PFM Health Sciences LP increased its position in shares of Editas Medicine by 103.1% during the third quarter. PFM Health Sciences LP now owns 1,279,054 shares of the company’s stock valued at $15,656,000 after buying an additional 649,370 shares during the period. Hedge funds and other institutional investors own 69.67% of the company’s stock.

Editas Medicine Company Profile

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Editas Medicine, Inc, a clinical stage genome editing company, focuses on developing transformative genomic medicines to treat a range of serious diseases. It develops a proprietary gene editing platform based on CRISPR technology. The company develops EDIT-101, which is in Phase 1/2 clinical trial for Leber Congenital Amaurosis 10 that leads to inherited childhood blindness.

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

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