Editas Medicine (NASDAQ:EDIT - Get Free Report) had its price objective dropped by equities research analysts at Royal Bank of Canada from $5.00 to $4.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a "sector perform" rating on the stock. Royal Bank of Canada's price target indicates a potential upside of 177.78% from the stock's current price.
A number of other equities analysts have also weighed in on the stock. Robert W. Baird reduced 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 note on Friday. Bank of America cut Editas Medicine from a "buy" rating to an "underperform" rating and reduced their price objective for the stock from $13.00 to $1.00 in a research report on Monday, November 25th. Truist Financial lowered Editas Medicine from a "buy" rating to a "hold" rating in a research report on Friday. Wells Fargo & Company cut Editas Medicine from an "overweight" rating to an "equal weight" rating and cut their target price for the company from $7.00 to $4.00 in a research note on Wednesday. Finally, Chardan Capital reaffirmed a "neutral" rating on shares of Editas Medicine in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Editas Medicine currently has an average rating of "Hold" and an average target price of $6.85.
Get Our Latest Research Report on EDIT
Editas Medicine Trading Down 23.8 %
Shares of NASDAQ:EDIT traded down $0.45 during trading on Friday, hitting $1.44. 10,559,555 shares of the company's stock traded hands, compared to its average volume of 2,018,744. The company has a 50-day moving average price of $2.76 and a 200-day moving average price of $3.90. Editas Medicine has a 52 week low of $1.41 and a 52 week high of $11.58. The company has a market cap of $118.87 million, a price-to-earnings ratio of -0.56 and a beta of 1.86.
Editas Medicine (NASDAQ:EDIT - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.75) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.75). Editas Medicine had a negative net margin of 340.96% and a negative return on equity of 80.13%. The firm had revenue of $0.06 million for the quarter, compared to analyst estimates of $3.93 million. During the same quarter in the previous year, the firm posted ($0.55) earnings per share. The business's revenue was down 98.9% on a year-over-year basis. On average, analysts predict that Editas Medicine will post -2.59 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Editas Medicine
A number of institutional investors and hedge funds have recently modified their holdings of EDIT. Price T Rowe Associates Inc. MD raised its stake in Editas Medicine by 16.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 49,704 shares of the company's stock valued at $369,000 after acquiring an additional 7,174 shares during the period. Hoylecohen LLC bought a new position in shares of Editas Medicine in the second quarter valued at about $55,000. Raymond James & Associates lifted its stake in shares of Editas Medicine by 49.7% during the 2nd quarter. Raymond James & Associates now owns 526,815 shares of the company's stock worth $2,460,000 after buying an additional 174,993 shares during the last quarter. Hennion & Walsh Asset Management Inc. bought a new stake in shares of Editas Medicine during the 2nd quarter worth about $786,000. Finally, Aries Wealth Management acquired a new position in Editas Medicine in the 2nd quarter valued at about $65,000. 71.90% of the stock is owned by institutional investors.
Editas Medicine Company Profile
(
Get Free Report)
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.
Featured Articles
Before you consider Editas Medicine, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Editas Medicine wasn't on the list.
While Editas Medicine currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Options trading isn’t just for the Wall Street elite; it’s an accessible strategy for anyone armed with the proper knowledge. Think of options as a strategic toolkit, with each tool designed for a specific financial task. Keep reading to learn how options trading can help you use the market’s volatility to your advantage.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.