Editas Medicine (NASDAQ:EDIT – Get Free Report) issued its earnings results on Monday. The company reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.04, FiscalAI reports. The firm had revenue of $10.37 million for the quarter, compared to analyst estimates of $4.54 million. Editas Medicine had a negative net margin of 157.32% and a negative return on equity of 196.63%.
Editas Medicine Price Performance
EDIT stock opened at $2.57 on Monday. The firm has a market cap of $394.70 million, a price-to-earnings ratio of -3.43 and a beta of 2.08. The company’s fifty day simple moving average is $2.70 and its 200 day simple moving average is $2.69. Editas Medicine has a 12-month low of $1.66 and a 12-month high of $3.94.
Analyst Ratings Changes
Several research analysts have recently issued reports on EDIT shares. LADENBURG THALM/SH SH started coverage on shares of Editas Medicine in a report on Tuesday, August 18th. They set a “buy” rating and a $6.00 price target for the company. Wall Street Zen raised Editas Medicine from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Guggenheim upgraded Editas Medicine from a “neutral” rating to a “buy” rating and set a $5.00 price objective on the stock in a research report on Wednesday, September 23rd. Weiss Ratings raised Editas Medicine from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Finally, Wells Fargo & Company raised Editas Medicine from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $4.00 to $6.00 in a report on Thursday, October 8th. Six research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $5.83.
Read Our Latest Stock Report on Editas Medicine
About Editas Medicine
Editas Medicine, Inc is a biotechnology company focused on developing genomic medicines using CRISPR-based gene-editing technologies. The company’s research platforms include CRISPR/Cas9 and CRISPR/Cas12a, which are designed to make precise changes to DNA and potentially treat diseases caused by genetic abnormalities.
Editas Medicine’s lead investigational program is reni-cel, formerly known as EDIT-301. Reni-cel is an ex vivo gene-editing therapy intended to treat sickle cell disease and transfusion-dependent beta thalassemia by modifying a patient’s blood-forming stem cells before they are returned to the body.
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