J P Morgan Chase & Co Analysts Give Editas Medicine, Inc. (EDIT) a $27.00 Price Target
Editas Medicine, Inc. (NASDAQ:EDIT) received a $27.00 price objective from stock analysts at J P Morgan Chase & Co in a research report issued to clients and investors on Wednesday. The brokerage presently has a “hold” rating on the stock. J P Morgan Chase & Co’s price objective would suggest a potential upside of 50.17% from the stock’s current price.
A number of other brokerages also recently commented on EDIT. Cann reissued a “hold” rating on shares of Editas Medicine in a research note on Thursday. SunTrust Banks, Inc. assumed coverage on shares of Editas Medicine in a research note on Thursday, July 13th. They issued a “hold” rating and a $17.00 target price on the stock. Zacks Investment Research raised shares of Editas Medicine from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research note on Wednesday, July 12th. Finally, Oppenheimer Holdings, Inc. reiterated a “market perform” rating on shares of Editas Medicine in a research note on Tuesday, July 18th. Five research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $25.03.
Editas Medicine (EDIT) opened at 17.98 on Wednesday. The firm’s market cap is $732.31 million. The firm has a 50 day moving average of $16.99 and a 200 day moving average of $18.99. Editas Medicine has a 1-year low of $12.43 and a 1-year high of $29.20.
Editas Medicine (NASDAQ:EDIT) last issued its earnings results on Wednesday, August 9th. The company reported ($0.65) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.57) by $0.08. Editas Medicine had a negative net margin of 1,864.00% and a negative return on equity of 63.29%. The business had revenue of $3.10 million during the quarter, compared to analysts’ expectations of $2.20 million. During the same period in the prior year, the business posted ($0.54) EPS. The business’s revenue was down 8.8% on a year-over-year basis. On average, equities research analysts expect that Editas Medicine will post ($3.05) EPS for the current year.
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In other news, insider Gerald Frank Cox purchased 4,000 shares of the company’s stock in a transaction that occurred on Friday, June 2nd. The shares were purchased at an average price of $14.15 per share, with a total value of $56,600.00. Following the purchase, the insider now directly owns 4,000 shares of the company’s stock, valued at approximately $56,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kevin Bitterman sold 1,000,000 shares of Editas Medicine stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $17.00, for a total transaction of $17,000,000.00. The disclosure for this sale can be found here.
A number of large investors have recently added to or reduced their stakes in EDIT. Pacad Investment Ltd. purchased a new stake in Editas Medicine during the second quarter valued at about $287,000. Airain ltd purchased a new stake in Editas Medicine during the second quarter valued at about $255,000. Legal & General Group Plc increased its stake in 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 buying an additional 6,535 shares during the period. Bank of New York Mellon Corp increased its stake in Editas Medicine by 123.8% in the second quarter. Bank of New York Mellon Corp now owns 142,122 shares of the company’s stock valued at $2,385,000 after buying an additional 78,632 shares during the period. Finally, State of Wisconsin Investment Board purchased a new stake in Editas Medicine during the second quarter valued at about $419,000. 67.87% of the stock is currently owned by hedge funds and other institutional investors.
Editas Medicine Company Profile
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.
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