Editas Medicine (EDIT) Scheduled to Post Earnings on Wednesday

Editas Medicine (NASDAQ:EDIT) is scheduled to announce its earnings results before the market opens on Wednesday, August 7th. Analysts expect the company to announce earnings of ($0.69) per share for the quarter.

Editas Medicine (NASDAQ:EDIT) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($0.76) EPS for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.13). Editas Medicine had a negative net margin of 239.36% and a negative return on equity of 47.34%. The company had revenue of $1.10 million for the quarter, compared to the consensus estimate of $11.14 million. During the same quarter last year, the company earned ($0.71) earnings per share. The company’s revenue was down 88.9% compared to the same quarter last year. On average, analysts expect Editas Medicine to post $-3 EPS for the current fiscal year and $-3 EPS for the next fiscal year.

Editas Medicine Price Performance

NASDAQ EDIT opened at $5.41 on Thursday. Editas Medicine has a 12 month low of $4.45 and a 12 month high of $11.69. The company has a market capitalization of $444.92 million, a price-to-earnings ratio of -2.58 and a beta of 2.01. The company’s fifty day moving average price is $5.25 and its two-hundred day moving average price is $6.53.

Analyst Upgrades and Downgrades

A number of research analysts have commented on EDIT shares. Evercore ISI reduced their price objective on shares of Editas Medicine from $15.00 to $7.00 and set an “in-line” rating on the stock in a research note on Thursday, May 30th. Morgan Stanley upgraded shares of Editas Medicine from an “underweight” rating to an “equal weight” rating and set a $7.00 price target on the stock in a research report on Thursday, May 9th. Barclays reduced their price target on shares of Editas Medicine from $11.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 9th. StockNews.com downgraded shares of Editas Medicine from a “hold” rating to a “sell” rating in a research report on Thursday, May 9th. Finally, Oppenheimer restated a “market perform” rating and issued a $12.00 price target on shares of Editas Medicine in a research report on Tuesday, June 18th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Editas Medicine currently has a consensus rating of “Hold” and an average target price of $12.90.

Insider Buying and Selling

In related news, Director Jessica Hopfield bought 45,000 shares of the stock in a transaction on Monday, May 13th. The shares were purchased at an average price of $5.64 per share, with a total value of $253,800.00. Following the purchase, the director now owns 67,700 shares in the company, valued at $381,828. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Editas Medicine news, CEO Gilmore Neil O’neill sold 12,191 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $5.50, for a total transaction of $67,050.50. Following the transaction, the chief executive officer now owns 315,279 shares of the company’s stock, valued at approximately $1,734,034.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jessica Hopfield bought 45,000 shares of the stock in a transaction on Monday, May 13th. The shares were bought at an average cost of $5.64 per share, for a total transaction of $253,800.00. Following the purchase, the director now owns 67,700 shares in the company, valued at approximately $381,828. The disclosure for this purchase can be found here. Insiders have sold a total of 31,207 shares of company stock valued at $168,768 in the last quarter. Company insiders own 1.90% 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.