Editas Medicine Inc. (EDIT) Trading Up 2.4%
Editas Medicine Inc. (NASDAQ:EDIT) shares were up 2.4% during trading on Thursday . The company traded as high as $26.44 and last traded at $26.10, with a volume of 131,162 shares traded. The stock had previously closed at $25.48.
A number of research analysts have commented on EDIT shares. Vetr upgraded Editas Medicine from a “hold” rating to a “buy” rating and set a $32.50 price objective on the stock in a research note on Monday, May 9th. Cowen and Company restated a “buy” rating on shares of Editas Medicine in a research note on Monday, May 16th. Zacks Investment Research cut Editas Medicine from a “hold” rating to a “sell” rating in a research note on Wednesday, May 18th. Finally, Jefferies Group started coverage on Editas Medicine in a research note on Thursday, June 2nd. They set a “hold” rating and a $35.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $33.50.
The company has a 50-day moving average of $27.73 and a 200-day moving average of $30.28. The firm’s market cap is $954.38 million.
Editas Medicine (NASDAQ:EDIT) last announced its quarterly earnings results on Monday, May 16th. The company reported ($0.80) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by $0.50. The business had revenue of $0.80 million for the quarter, compared to analysts’ expectations of $1.08 million. On average, equities analysts forecast that Editas Medicine Inc. will post ($2.35) EPS for the current year.
Editas Medicine, Inc, formerly Gengine, Inc, is a genome editing company. The Company 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)/CRISPR associated protein 9 (Cas9) technology.
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