Editas Medicine (EDIT): Are There Still Some Reasons For Optimism?

Research firm Zacks lifted Editas Medicine from a "hold" recommendation to a "buy" recommendation and fixed a $19.00 price target for The corporation in a note on Wed, Jul 12th. crowd sourced stock rating company Vetr lifted Editas Medicine from a "buy" recommendation to a "strong-buy" recommendation and fixed a $27.14 target price for The corporation in a note on Mon, Mar 20th. Of those holders, 70 had increased positions amounting to 5.95 million shares, 30 had decreased positions amounting to 1.65 million shares, and 19 holders have a held position accounting for 20.31 million shares. For the current year the company's revenue estimates are $476.39 Million compared to low analyst estimates of $456.39 Million and high estimates of $517 Million according to the prediction of 15 analysts.

Many brokerage firm analysts also published research on EDIT. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 64 cents per share. "(NASDAQ:EDIT) Coverage Initiated at SunTrust Banks, Inc." was first reported by Sports Perspectives and is the sole property of of Sports Perspectives. This is well above the stock's Wednesday closing price of $17.98 each. Rating Scale; where 1.0 rating means Strong Buy, 2.0 rating signify Buy, 3.0 recommendation reveals Hold, 4.0 rating score shows Sell and 5.0 displays Strong Sell signal.

Currently, the stock carries a price to earnings ratio of 0, a price to book ratio of 6, and a price to sales ratio of 4.88.

Creative Planning boosted its stake in shares of Editas Medicine, Inc. 1,767,150 shares of the company were exchanged. Editas Medicine has a 12 month low of $12.43 and a 12 month high of $29.20. The firm's market capitalization is $803.18 million.

Editas Medicine (NASDAQ:EDIT) last posted its earnings results on Monday, May 15th.

Last time, the company shocked Wall Street by reporting EPS of $-0.65, smashing the consensus of $-0.71 per share. The business had revenue of $3.10 million during the quarter, compared to analysts' expectations of $2.20 million. Editas Medicine had a negative net margin of 2,091.36% and a negative return on equity of 69.21%. During the same period in the prior year, the company earned ($0.54) earnings per share. Analysts expect that Editas Medicine will post ($2.84) earnings per share for the current fiscal year.

WARNING: "Editas Medicine, Inc".

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter. If you are viewing this news story on another publication, it was illegally stolen and reposted in violation of United States and global copyright and trademark law. The original version of this story can be viewed at https://www.chaffeybreeze.com/2017/08/10/j-p-morgan-chase-co-analysts-give-editas-medicine-inc-nasdaqedit-a-27-00-price-target.html. The shares were purchased at an average price of $14.15 per share, with a total value of $56,600.00. Following the transaction, the director now directly owns 35,000 shares in the company, valued at approximately $492,450. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kevin Bitterman sold 1,000,000 shares of the stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $17.00, for a total value of $17,000,000.00. The disclosure for this bought can be found here.

Large investors have recently modified their holdings of the company. Russell Investments Group Ltd. acquired a new stake in shares of Editas Medicine during the fourth quarter worth about $284,000. Finally, First American Bank purchased a new stake in shares of Editas Medicine during the second quarter valued at about $251,000. Teachers Advisors, LLC now owns 61,369 shares worth $1,030,000. Finally, Barrett Asset Management LLC purchased a new position in Editas Medicine during the first quarter worth $223,000. Creative Planning raised its position in shares of Editas Medicine by 8,910.9% in the second quarter. UBS Group AG has an ownership of 78,217 stocks of the firms shares valued $1,746,000 after scooping up an extra 68,990 shares through out the quarter. Fox Run Management L.L.C. purchased a new position in Editas Medicine during the first quarter worth $272,000.

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