Editas Medicine Inc (NASDAQ:EDIT) Expected to Post Quarterly Sales of $4.11 Million

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Wall Street analysts expect Editas Medicine Inc (NASDAQ:EDIT) to post sales of $4.11 million for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Editas Medicine’s earnings, with estimates ranging from $2.00 million to $8.00 million. Editas Medicine reported sales of $14.52 million in the same quarter last year, which suggests a negative year over year growth rate of 71.7%. The business is expected to issue its next quarterly earnings results on Wednesday, November 6th.

According to Zacks, analysts expect that Editas Medicine will report full year sales of $17.45 million for the current financial year, with estimates ranging from $4.40 million to $39.03 million. For the next year, analysts forecast that the business will post sales of $22.23 million, with estimates ranging from $7.53 million to $41.40 million. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Editas Medicine.

Editas Medicine (NASDAQ:EDIT) last posted its earnings results on Tuesday, August 6th. The company reported ($0.69) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.59) by ($0.10). Editas Medicine had a negative return on equity of 45.74% and a negative net margin of 412.70%. The firm had revenue of $2.33 million for the quarter, compared to the consensus estimate of $6.88 million. During the same period in the prior year, the business earned ($0.82) EPS. Editas Medicine’s quarterly revenue was down 68.4% compared to the same quarter last year.

Several equities analysts have commented on the stock. Zacks Investment Research cut shares of Editas Medicine from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. BidaskClub raised shares of Editas Medicine from a “sell” rating to a “hold” rating in a research report on Friday, July 12th. ValuEngine raised shares of Editas Medicine from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Oppenheimer reaffirmed a “hold” rating on shares of Editas Medicine in a report on Wednesday, May 8th. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $55.00 price target on shares of Editas Medicine in a report on Thursday, July 25th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $36.40.

Several large investors have recently bought and sold shares of EDIT. ARK Investment Management LLC grew its holdings in Editas Medicine by 6.3% in the 2nd quarter. ARK Investment Management LLC now owns 4,848,148 shares of the company’s stock valued at $119,943,000 after buying an additional 288,714 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Editas Medicine by 9.0% in the 2nd quarter. Vanguard Group Inc. now owns 4,290,861 shares of the company’s stock worth $106,156,000 after buying an additional 355,256 shares in the last quarter. BlackRock Inc. grew its stake in shares of Editas Medicine by 2.2% in the 2nd quarter. BlackRock Inc. now owns 3,872,531 shares of the company’s stock worth $95,805,000 after buying an additional 84,186 shares in the last quarter. Nikko Asset Management Americas Inc. grew its stake in shares of Editas Medicine by 319.8% in the 2nd quarter. Nikko Asset Management Americas Inc. now owns 3,111,700 shares of the company’s stock worth $76,983,000 after buying an additional 2,370,395 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Editas Medicine by 109.8% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,514,927 shares of the company’s stock worth $37,479,000 after buying an additional 792,931 shares in the last quarter. 81.70% of the stock is currently owned by institutional investors.

Shares of Editas Medicine stock traded up $0.27 during mid-day trading on Thursday, hitting $25.36. 518,631 shares of the stock were exchanged, compared to its average volume of 840,093. Editas Medicine has a 12 month low of $17.80 and a 12 month high of $33.80. The company has a 50-day simple moving average of $24.76 and a 200 day simple moving average of $23.56. The company has a debt-to-equity ratio of 0.07, a quick ratio of 8.46 and a current ratio of 8.46. The company has a market capitalization of $1.19 billion, a P/E ratio of -10.88 and a beta of 2.53.

Editas Medicine Company Profile

Editas Medicine, Inc operates as a clinical stage genome editing company. The company focuses on developing transformative genomic medicines to treat a range of serious diseases. It develops a proprietary genome editing platform based on CRISPR technology to target genetically addressable diseases and therapeutic areas.

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