Editas Medicine (NASDAQ:EDIT) was upgraded by SunTrust Banks from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The firm currently has a $45.00 price target on the stock. SunTrust Banks’ target price would indicate a potential upside of 29.98% from the stock’s previous close.
Several other research analysts have also weighed in on the company. Zacks Investment Research lowered Editas Medicine from a “hold” rating to a “sell” rating in a research report on Tuesday, January 9th. BidaskClub upgraded Editas Medicine from a “hold” rating to a “buy” rating in a research report on Wednesday, December 27th. ValuEngine lowered Editas Medicine from a “hold” rating to a “sell” rating in a research report on Friday, December 1st. Cann restated a “hold” rating on shares of Editas Medicine in a research report on Tuesday, November 7th. Finally, Cowen restated a “buy” rating on shares of Editas Medicine in a research report on Tuesday, November 7th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $30.73.
Editas Medicine (EDIT) opened at $34.62 on Tuesday. The firm has a market capitalization of $1,530.00 and a P/E ratio of -10.69. Editas Medicine has a 52-week low of $13.12 and a 52-week high of $36.00. The company has a debt-to-equity ratio of 0.19, a current ratio of 10.12 and a quick ratio of 10.12.
Editas Medicine (NASDAQ:EDIT) last issued its quarterly earnings data on Tuesday, November 7th. The company reported ($0.64) earnings per share for the quarter, missing the consensus estimate of ($0.60) by ($0.04). The business had revenue of $6.28 million during the quarter, compared to analysts’ expectations of $2.66 million. Editas Medicine had a negative return on equity of 70.19% and a negative net margin of 1,127.03%. The company’s revenue was up 553.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.59) earnings per share. analysts anticipate that Editas Medicine will post -2.92 EPS for the current fiscal year.
In other news, insider Katrine Bosley sold 14,995 shares of the stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $34.15, for a total value of $512,079.25. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Andrew A. F. Hack sold 5,000 shares of the stock in a transaction on Monday, November 20th. The shares were sold at an average price of $25.35, for a total value of $126,750.00. Following the completion of the sale, the chief financial officer now owns 5,000 shares in the company, valued at $126,750. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 61,310 shares of company stock valued at $1,689,449. Company insiders own 19.40% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. IHT Wealth Management LLC acquired a new stake in shares of Editas Medicine in the second quarter valued at $107,000. Great West Life Assurance Co. Can raised its stake in shares of Editas Medicine by 519.9% in the third quarter. Great West Life Assurance Co. Can now owns 4,959 shares of the company’s stock valued at $114,000 after acquiring an additional 4,159 shares in the last quarter. Plancorp LLC acquired a new stake in shares of Editas Medicine in the fourth quarter valued at $235,000. Legal & General Group Plc raised its stake in shares of Editas Medicine by 308.4% in the second quarter. Legal & General Group Plc now owns 8,654 shares of the company’s stock valued at $145,000 after acquiring an additional 6,535 shares in the last quarter. Finally, Royal Bank of Canada raised its stake in shares of Editas Medicine by 4.1% in the second quarter. Royal Bank of Canada now owns 9,364 shares of the company’s stock valued at $157,000 after acquiring an additional 372 shares in the last quarter. Institutional investors and hedge funds own 64.54% of the company’s stock.
TRADEMARK VIOLATION NOTICE: “Editas Medicine (EDIT) Stock Rating Upgraded by SunTrust Banks” was originally published by TrueBlueTribune and is owned by of TrueBlueTribune. If you are accessing this story on another website, it was illegally copied and republished in violation of United States and international copyright laws. The correct version of this story can be viewed at https://www.truebluetribune.com/2018/01/23/editas-medicine-edit-stock-rating-upgraded-by-suntrust-banks.html.
About Editas Medicine
Editas Medicine, Inc is a genome editing company. It is engaged in treating patients with genetically defined diseases by correcting their disease-causing genes. It operates through developing and commercializing genome editing technology segment. It is developing a genome editing platform based on clustered, regularly interspaced short palindromic repeats (CRISPR) technology.
Receive News & Ratings for Editas Medicine Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Editas Medicine and related companies with MarketBeat.com's FREE daily email newsletter.