Editas Medicine, Inc. (NASDAQ:EDIT) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Editas Medicine, Inc. (NASDAQ:EDIT) has earned a consensus rating of “Moderate Buy” from the eight brokerages that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $5.30.

Several equities analysts recently weighed in on the company. Robert W. Baird set a $6.00 price target on Editas Medicine in a report on Monday, March 9th. TD Cowen reaffirmed a “buy” rating on shares of Editas Medicine in a report on Monday, March 9th. JonesTrading raised Editas Medicine from a “hold” rating to a “buy” rating and set a $8.00 price target for the company in a report on Tuesday, March 10th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Editas Medicine in a report on Wednesday, January 21st. Finally, Wall Street Zen cut Editas Medicine from a “hold” rating to a “sell” rating in a report on Saturday, April 11th.

Editas Medicine Stock Performance

Shares of NASDAQ EDIT opened at $3.49 on Monday. The firm has a market cap of $341.57 million, a price-to-earnings ratio of -1.85 and a beta of 2.04. The business’s 50-day simple moving average is $2.36 and its 200-day simple moving average is $2.53. Editas Medicine has a 52 week low of $1.23 and a 52 week high of $4.54.

Editas Medicine (NASDAQ:EDIT) last issued its quarterly earnings data on Monday, March 9th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.21. The business had revenue of $24.74 million for the quarter, compared to analyst estimates of $8.77 million. Editas Medicine had a negative return on equity of 389.73% and a negative net margin of 395.02%. As a group, equities research analysts forecast that Editas Medicine will post -2.71 earnings per share for the current year.

Hedge Funds Weigh In On Editas Medicine

A number of hedge funds have recently modified their holdings of the stock. Hsbc Holdings PLC raised its holdings in shares of Editas Medicine by 17.0% in the 4th quarter. Hsbc Holdings PLC now owns 112,186 shares of the company’s stock worth $231,000 after buying an additional 16,288 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Editas Medicine in the 4th quarter worth approximately $89,000. Quadrature Capital Ltd acquired a new position in shares of Editas Medicine in the 4th quarter worth approximately $220,000. Man Group plc raised its holdings in shares of Editas Medicine by 58.8% in the 4th quarter. Man Group plc now owns 79,170 shares of the company’s stock worth $162,000 after buying an additional 29,326 shares in the last quarter. Finally, Eversept Partners LP acquired a new position in shares of Editas Medicine in the 4th quarter worth approximately $596,000. 71.90% of the stock is owned by institutional investors and hedge funds.

Editas Medicine Company Profile

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 β-thalassemia using an ex vivo editing approach.