Editas Medicine, Inc. (NASDAQ:EDIT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Friday. The brokerage presently has a $25.00 price objective on the stock. Zacks Investment Research‘s price objective would indicate a potential upside of 2.54% from the stock’s current price.

According to Zacks, “Editas Medicine, Inc. is a genome editing company. It focuses on translating its genome editing technology into a novel class of human therapeutics which enable precise and corrective molecular modification to treat diseases. Editas Medicine, Inc. is based in Cambridge, Massachusetts. “

Other equities research analysts also recently issued reports about the company. Oppenheimer Holdings, Inc. reiterated a “market perform” rating on shares of Editas Medicine in a report on Tuesday, July 18th. Cann reissued a “hold” rating on shares of Editas Medicine in a research note on Thursday, August 10th. Barclays PLC began coverage on Editas Medicine in a research note on Wednesday, September 6th. They issued an “overweight” rating and a $28.00 price objective for the company. SunTrust Banks, Inc. began coverage on Editas Medicine in a research note on Thursday, July 13th. They issued a “hold” rating and a $17.00 price objective for the company. Finally, Cowen and Company reissued a “buy” rating on shares of Editas Medicine in a research note on Tuesday, November 7th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $26.73.

Shares of Editas Medicine (EDIT) traded up $1.70 during midday trading on Friday, hitting $24.38. The stock had a trading volume of 761,900 shares, compared to its average volume of 900,832. Editas Medicine has a twelve month low of $13.12 and a twelve month high of $29.20. The company has a debt-to-equity ratio of 0.19, a current ratio of 10.12 and a quick ratio of 6.74.

Editas Medicine (NASDAQ:EDIT) last announced its earnings results on Tuesday, November 7th. The company reported ($0.64) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.04). Editas Medicine had a negative net margin of 1,127.03% and a negative return on equity of 70.19%. The company had revenue of $6.28 million for the quarter, compared to analysts’ expectations of $2.66 million. During the same period in the prior year, the company earned ($0.59) earnings per share. The company’s revenue for the quarter was up 553.0% on a year-over-year basis. research analysts anticipate that Editas Medicine will post -2.86 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: This report was posted by Daily Political and is the sole property of of Daily Political. If you are accessing this report on another site, it was illegally stolen and republished in violation of United States and international trademark and copyright laws. The legal version of this report can be viewed at https://www.dailypolitical.com/2017/11/12/editas-medicine-inc-edit-rating-increased-to-buy-at-zacks-investment-research.html.

In related news, insider Katrine Bosley sold 8,333 shares of the stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $24.78, for a total value of $206,491.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders sold 43,332 shares of company stock valued at $946,504. Company insiders own 19.40% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. IHT Wealth Management LLC acquired a new position in Editas Medicine in the 2nd quarter worth about $107,000. Royal Bank of Canada increased its position in Editas Medicine by 4.1% in the 2nd quarter. Royal Bank of Canada now owns 9,364 shares of the company’s stock worth $157,000 after purchasing an additional 372 shares during the last quarter. Bank of America Corp DE increased its position in Editas Medicine by 72.2% in the 1st quarter. Bank of America Corp DE now owns 5,936 shares of the company’s stock worth $133,000 after purchasing an additional 2,489 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in Editas Medicine by 8.4% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 42,150 shares of the company’s stock worth $941,000 after purchasing an additional 3,249 shares during the last quarter. Finally, ProShare Advisors LLC increased its position in Editas Medicine by 18.9% in the 2nd quarter. ProShare Advisors LLC now owns 24,211 shares of the company’s stock worth $406,000 after purchasing an additional 3,857 shares during the last quarter. 70.51% of the stock is currently owned by 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.

Analyst Recommendations for Editas Medicine (NASDAQ:EDIT)

Receive News & Ratings for Editas Medicine Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Editas Medicine Inc. and related companies with MarketBeat.com's FREE daily email newsletter.