Editas Medicine (NASDAQ:EDIT) Price Target Raised to $4.00

Editas Medicine (NASDAQ:EDIT) had its price target upped by Wells Fargo & Company from $3.00 to $4.00 in a research report released on Wednesday,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other brokerages have also issued reports on EDIT. Wall Street Zen lowered shares of Editas Medicine from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th. HC Wainwright boosted their target price on shares of Editas Medicine from $3.00 to $5.00 and gave the company a “buy” rating in a research note on Friday, August 15th. Finally, Robert W. Baird boosted their target price on shares of Editas Medicine from $4.00 to $6.00 and gave the company an “outperform” rating in a research note on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $5.10.

Editas Medicine Stock Up 9.5%

NASDAQ EDIT opened at $2.76 on Wednesday. The company has a fifty day moving average of $2.71 and a two-hundred day moving average of $2.00. The firm has a market capitalization of $248.18 million, a price-to-earnings ratio of -0.97 and a beta of 2.16. Editas Medicine has a 52 week low of $0.91 and a 52 week high of $4.12.

Editas Medicine (NASDAQ:EDIT) last posted its quarterly earnings data on Tuesday, August 12th. The company reported ($0.63) EPS for the quarter, missing the consensus estimate of ($0.41) by ($0.22). The firm had revenue of $3.58 million for the quarter, compared to analysts’ expectations of $1.81 million. Editas Medicine had a negative return on equity of 200.25% and a negative net margin of 608.88%. Equities research analysts anticipate that Editas Medicine will post -2.71 EPS for the current year.

Institutional Trading of Editas Medicine

Several institutional investors and hedge funds have recently made changes to their positions in EDIT. Raymond James Financial Inc. bought a new stake in shares of Editas Medicine in the fourth quarter valued at about $303,000. Ameriprise Financial Inc. raised its holdings in shares of Editas Medicine by 282.7% in the fourth quarter. Ameriprise Financial Inc. now owns 227,609 shares of the company’s stock valued at $289,000 after acquiring an additional 168,134 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Editas Medicine by 162.9% in the fourth quarter. BNP Paribas Financial Markets now owns 144,060 shares of the company’s stock valued at $183,000 after acquiring an additional 89,273 shares in the last quarter. Balyasny Asset Management L.P. raised its holdings in shares of Editas Medicine by 647.3% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,300,604 shares of the company’s stock valued at $1,652,000 after acquiring an additional 1,126,569 shares in the last quarter. Finally, Bridgeway Capital Management LLC bought a new stake in shares of Editas Medicine in the fourth quarter valued at about $190,000. 71.90% of the stock is currently owned by institutional investors.

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.