Analysts Issue Forecasts for Editas Medicine FY2025 Earnings

Editas Medicine, Inc. (NASDAQ:EDIT - Free Report) - Investment analysts at Cantor Fitzgerald issued their FY2025 EPS estimates for shares of Editas Medicine in a research report issued to clients and investors on Tuesday, January 21st. Cantor Fitzgerald analyst E. Schmidt anticipates that the company will post earnings per share of ($2.10) for the year. The consensus estimate for Editas Medicine's current full-year earnings is ($2.73) per share.

Several other equities analysts have also commented on the company. Barclays lowered their price objective on Editas Medicine from $5.00 to $3.00 and set an "equal weight" rating for the company in a research report on Friday, December 13th. Chardan Capital reissued a "neutral" rating on shares of Editas Medicine in a research report on Friday, December 13th. Truist Financial lowered Editas Medicine from a "buy" rating to a "hold" rating in a research report on Friday, December 13th. Raymond James downgraded Editas Medicine from an "outperform" rating to a "market perform" rating in a report on Monday, November 4th. Finally, Evercore ISI reduced their price objective on Editas Medicine from $7.00 to $5.00 and set an "outperform" rating for the company in a report on Monday, December 16th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $7.00.

Editas Medicine Price Performance

Editas Medicine stock traded up $0.14 during mid-day trading on Wednesday, reaching $1.35. 4,140,063 shares of the company traded hands, compared to its average volume of 2,665,594. Editas Medicine has a 52-week low of $1.12 and a 52-week high of $11.58. The firm has a market capitalization of $111.03 million, a price-to-earnings ratio of -0.53 and a beta of 1.95. The firm's 50 day moving average price is $1.77 and its 200 day moving average price is $3.19.

Editas Medicine (NASDAQ:EDIT - Get Free Report) last issued its earnings results on Monday, November 4th. The company reported ($0.75) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.75). The firm had revenue of $0.06 million for the quarter, compared to analysts' expectations of $3.93 million. Editas Medicine had a negative net margin of 340.96% and a negative return on equity of 80.13%. The business's revenue was down 98.9% on a year-over-year basis. During the same quarter last year, the business earned ($0.55) earnings per share.

Institutional Investors Weigh In On Editas Medicine

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Millennium Management LLC lifted its stake in Editas Medicine by 10.0% in the 2nd quarter. Millennium Management LLC now owns 2,459,629 shares of the company's stock worth $11,486,000 after purchasing an additional 223,012 shares in the last quarter. Stifel Financial Corp lifted its position in shares of Editas Medicine by 37.9% in the third quarter. Stifel Financial Corp now owns 624,876 shares of the company's stock worth $2,131,000 after buying an additional 171,656 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in Editas Medicine by 133.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 529,834 shares of the company's stock valued at $1,807,000 after buying an additional 302,652 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in Editas Medicine by 18.1% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 267,758 shares of the company's stock valued at $340,000 after buying an additional 41,002 shares during the last quarter. Finally, Jennison Associates LLC grew its holdings in Editas Medicine by 90.4% during the 3rd quarter. Jennison Associates LLC now owns 237,745 shares of the company's stock valued at $811,000 after buying an additional 112,857 shares in the last quarter. Institutional investors own 71.90% of the company's stock.

About Editas Medicine

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 BRILLIANCE trial for Leber Congenital Amaurosis; and reni-cel, a clinical development gene-edited medicine to treat sickle cell disease and transfusion-dependent beta-thalassemia.