Brokers Offer Predictions for Editas Medicine FY2025 Earnings

Editas Medicine, Inc. (NASDAQ:EDIT - Free Report) - Analysts at Cantor Fitzgerald issued their FY2025 earnings estimates for shares of Editas Medicine in a note issued to 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.

Editas Medicine (NASDAQ:EDIT - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The company reported ($0.75) earnings per share for the quarter, hitting the consensus estimate of ($0.75). The company had revenue of $0.06 million during 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 quarterly revenue was down 98.9% on a year-over-year basis. During the same period last year, the business earned ($0.55) EPS.

EDIT has been the subject of several other reports. Wells Fargo & Company cut shares of Editas Medicine from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $7.00 to $4.00 in a research note on Wednesday, December 11th. JPMorgan Chase & Co. cut shares of Editas Medicine from a "neutral" rating to an "underweight" rating in a research note on Monday, December 16th. Truist Financial cut shares of Editas Medicine from a "buy" rating to a "hold" rating in a research note on Friday, December 13th. Raymond James cut shares of Editas Medicine from an "outperform" rating to a "market perform" rating in a research note on Monday, November 4th. Finally, Stifel Nicolaus cut shares of Editas Medicine from a "buy" rating to a "hold" rating and decreased their target price for the company from $11.00 to $3.00 in a research note on Friday, December 13th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $7.00.

Editas Medicine Price Performance

Shares of EDIT traded up $0.07 during mid-day trading on Wednesday, hitting $1.41. 3,126,537 shares of the company's stock were exchanged, compared to its average volume of 2,762,187. The company has a market cap of $116.40 million, a PE ratio of -0.55 and a beta of 1.95. Editas Medicine has a 52 week low of $1.12 and a 52 week high of $11.58. The company has a 50-day simple moving average of $1.70 and a 200 day simple moving average of $3.15.

Institutional Investors Weigh In On Editas Medicine

A number of hedge funds and other institutional investors have recently modified their holdings of EDIT. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Editas Medicine by 133.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 529,834 shares of the company's stock worth $1,807,000 after buying an additional 302,652 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Editas Medicine by 10.0% during the second quarter. Millennium Management LLC now owns 2,459,629 shares of the company's stock worth $11,486,000 after buying an additional 223,012 shares in the last quarter. Stifel Financial Corp lifted its holdings in shares of Editas Medicine by 37.9% during 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. Caxton Associates LP acquired a new stake in shares of Editas Medicine during the second quarter worth $600,000. Finally, Jennison Associates LLC lifted its holdings in shares of Editas Medicine by 90.4% during the third quarter. Jennison Associates LLC now owns 237,745 shares of the company's stock worth $811,000 after buying an additional 112,857 shares in the last quarter. Institutional investors and hedge funds own 71.90% of the company's stock.

Editas Medicine Company Profile

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.