Editas Medicine (NASDAQ:EDIT - Get Free Report) issued its quarterly earnings results on Wednesday. The company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.16), Zacks reports. The company had revenue of $30.60 million during the quarter, compared to analyst estimates of $37.17 million. Editas Medicine had a negative net margin of 340.96% and a negative return on equity of 80.13%. During the same period in the previous year, the company posted ($0.23) EPS.
Editas Medicine Price Performance
Shares of EDIT traded down $0.06 during trading hours on Friday, hitting $1.72. The stock had a trading volume of 1,912,543 shares, compared to its average volume of 4,567,506. Editas Medicine has a 1-year low of $1.12 and a 1-year high of $9.60. The firm has a market capitalization of $142.72 million, a P/E ratio of -0.67 and a beta of 1.88. The firm has a 50 day simple moving average of $1.48 and a 200-day simple moving average of $2.40.
Analyst Ratings Changes
A number of analysts have weighed in on EDIT shares. Robert W. Baird decreased their target price on shares of Editas Medicine from $10.00 to $8.00 and set an "outperform" rating for the company in a research report on Friday, December 13th. Bank of America lowered shares of Editas Medicine from a "buy" rating to an "underperform" rating and reduced their price objective for the company from $13.00 to $1.00 in a research note on Monday, November 25th. Royal Bank of Canada lowered their target price on shares of Editas Medicine from $5.00 to $4.00 and set a "sector perform" rating for the company in a research note on Friday, December 13th. Wells Fargo & Company cut shares of Editas Medicine from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $7.00 to $4.00 in a research report on Wednesday, December 11th. Finally, Evercore ISI decreased their price target 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 assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $6.83.
Check Out Our Latest Report on EDIT
About Editas Medicine
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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.
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