Editas Medicine (EDIT) Stock Rating Upgraded by SunTrust Banks

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.

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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.

Analyst Recommendations for Editas Medicine (NASDAQ:EDIT)

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