Brokers Set Expectations for Editas Medicine FY2027 Earnings

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

Editas Medicine (NASDAQ:EDIT) last released its quarterly earnings results on Wednesday, March 5th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.16). The company had revenue of $30.60 million during the quarter, compared to the consensus estimate 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 in the previous year, the company earned ($0.23) earnings per share.

EDIT has been the subject of a number of other reports. Chardan Capital reissued a “neutral” rating on shares of Editas Medicine in a research report on Friday, December 13th. Robert W. Baird cut their target price 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. Royal Bank of Canada dropped their price target on shares of Editas Medicine from $5.00 to $4.00 and set a “sector perform” rating on the stock in a research note on Friday, December 13th. Truist Financial lowered shares of Editas Medicine from a “buy” rating to a “hold” rating in a research note on Friday, December 13th. Finally, Stifel Nicolaus cut shares of Editas Medicine from a “buy” rating to a “hold” rating and cut their price target for the company from $11.00 to $3.00 in a report on Friday, December 13th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Editas Medicine has a consensus rating of “Hold” and an average target price of $6.83.

Editas Medicine Stock Down 3.8 %

Shares of EDIT stock opened at $1.25 on Friday. The stock has a market cap of $103.72 million, a price-to-earnings ratio of -0.49 and a beta of 1.88. The business’s fifty day moving average is $1.51 and its 200 day moving average is $2.18. Editas Medicine has a twelve month low of $1.12 and a twelve month high of $7.41.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Ieq Capital LLC purchased a new position in Editas Medicine during the fourth quarter valued at $31,000. Thrive Wealth Management LLC purchased a new position in shares of Editas Medicine during the 4th quarter valued at about $36,000. Dark Forest Capital Management LP grew its stake in shares of Editas Medicine by 66.9% during the 4th 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 during the period. Freestone Grove Partners LP purchased a new stake in Editas Medicine in the 4th quarter worth approximately $46,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in Editas Medicine during the 3rd quarter worth approximately $47,000. Hedge funds and other institutional investors own 71.90% of the company’s stock.

Editas Medicine Company Profile

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.