Zacks Research Comments on Editas Medicine FY2027 Earnings

Editas Medicine, Inc. (NASDAQ:EDIT) – Stock analysts at Zacks Research issued their FY2027 earnings per share estimates for shares of Editas Medicine in a note issued to investors on Wednesday, March 26th. Zacks Research analyst A. Chakraborty expects that the company will post earnings per share of ($2.30) for the year. The consensus estimate for Editas Medicine’s current full-year earnings is ($2.71) per share.

Editas Medicine (NASDAQ:EDIT) last posted its quarterly earnings results on Wednesday, March 5th. The company reported ($0.55) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.16). The business had revenue of $30.60 million for the quarter, compared to analysts’ expectations of $37.17 million. Editas Medicine had a negative return on equity of 80.13% and a negative net margin of 340.96%. During the same period last year, the business posted ($0.23) earnings per share.

Other research analysts also recently issued research reports about the company. Royal Bank of Canada decreased their price objective on Editas Medicine from $5.00 to $4.00 and set a “sector perform” rating on the stock in a report on Friday, December 13th. Robert W. Baird decreased their price target on Editas Medicine from $10.00 to $8.00 and set an “outperform” rating on the stock in a research note on Friday, December 13th. Chardan Capital reissued a “neutral” rating on shares of Editas Medicine in a research note on Friday, December 13th. Barclays decreased their target price on shares of Editas Medicine from $5.00 to $3.00 and set an “equal weight” rating on the stock in a research note on Friday, December 13th. Finally, Truist Financial cut shares of Editas Medicine from a “buy” rating to a “hold” rating in a research report on Friday, December 13th. Three equities 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, the company presently has an average rating of “Hold” and a consensus price target of $6.83.

Editas Medicine Stock Up 2.4 %

Shares of NASDAQ:EDIT opened at $1.30 on Friday. The stock has a market cap of $107.87 million, a PE ratio of -0.51 and a beta of 1.88. The company’s fifty day moving average is $1.51 and its 200 day moving average is $2.20. Editas Medicine has a 52 week low of $1.12 and a 52 week high of $7.52.

Hedge Funds Weigh In On Editas Medicine

Several large investors have recently modified their holdings of the stock. Ieq Capital LLC purchased a new stake in Editas Medicine during the 4th quarter valued at about $31,000. Thrive Wealth Management LLC purchased a new stake in shares of Editas Medicine during the fourth quarter valued at approximately $36,000. Dark Forest Capital Management LP increased its position in shares of Editas Medicine by 66.9% during the fourth quarter. Dark Forest Capital Management LP now owns 32,787 shares of the company’s stock valued at $42,000 after acquiring an additional 13,138 shares in the last quarter. Freestone Grove Partners LP purchased a new position in Editas Medicine in the 4th quarter worth approximately $46,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in Editas Medicine in the 3rd quarter worth approximately $47,000. Hedge funds and other 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.