Editas Medicine (NASDAQ:EDIT) PT Raised to $17.00 at Barclays

Editas Medicine (NASDAQ:EDITGet Rating) had its price objective increased by research analysts at Barclays from $16.00 to $17.00 in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price target suggests a potential downside of 12.46% from the company’s current price.

EDIT has been the subject of a number of other reports. Morgan Stanley boosted their price objective on Editas Medicine from $16.00 to $17.00 and gave the company an “underweight” rating in a research note on Tuesday, April 12th. The Goldman Sachs Group cut their price objective on Editas Medicine from $10.00 to $8.00 and set a “sell” rating for the company in a research note on Tuesday, May 24th. Oppenheimer cut their price objective on Editas Medicine from $55.00 to $28.00 in a research note on Thursday, May 5th. Finally, Robert W. Baird cut their price objective on Editas Medicine from $44.00 to $33.00 in a research note on Monday, April 18th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. According to MarketBeat, Editas Medicine has an average rating of “Hold” and an average target price of $33.10.

Editas Medicine Stock Up 1.4 %

Editas Medicine stock opened at $19.42 on Thursday. The business has a 50-day simple moving average of $13.88 and a two-hundred day simple moving average of $15.32. The company has a market cap of $1.33 billion, a P/E ratio of -7.19 and a beta of 2.03. Editas Medicine has a 52-week low of $9.59 and a 52-week high of $73.03.

Editas Medicine (NASDAQ:EDITGet Rating) last released its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.78) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.84) by $0.06. The business had revenue of $6.36 million during the quarter, compared to the consensus estimate of $4.29 million. Editas Medicine had a negative return on equity of 34.83% and a negative net margin of 580.16%. The business’s quarterly revenue was up 1578.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.81) EPS. Research analysts anticipate that Editas Medicine will post -3.41 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Mark S. Shearman sold 5,145 shares of the business’s stock in a transaction that occurred on Wednesday, June 15th. The stock was sold at an average price of $10.06, for a total value of $51,758.70. Following the transaction, the executive vice president now directly owns 68,349 shares of the company’s stock, valued at approximately $687,590.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders have sold 8,092 shares of company stock valued at $86,233. Corporate insiders own 0.94% of the company’s stock.

Institutional Trading of Editas Medicine

Hedge funds have recently modified their holdings of the company. Total Clarity Wealth Management Inc. purchased a new stake in shares of Editas Medicine during the 2nd quarter worth approximately $27,000. Covestor Ltd raised its holdings in shares of Editas Medicine by 9,693.3% during the 1st quarter. Covestor Ltd now owns 1,469 shares of the company’s stock worth $28,000 after acquiring an additional 1,454 shares in the last quarter. CWM LLC purchased a new stake in shares of Editas Medicine during the 4th quarter worth approximately $30,000. Russell Investments Group Ltd. purchased a new stake in shares of Editas Medicine during the 2nd quarter worth approximately $32,000. Finally, C M Bidwell & Associates Ltd. purchased a new stake in shares of Editas Medicine during the 4th quarter worth approximately $38,000. 75.48% of the stock is owned by hedge funds and other institutional investors.

Editas Medicine Company Profile

(Get Rating)

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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