Equities analysts expect that Editas Medicine Inc (NASDAQ:EDIT) will post $3.75 million in sales for the current quarter, Zacks reports. Four analysts have made estimates for Editas Medicine’s earnings. The highest sales estimate is $7.00 million and the lowest is $1.80 million. Editas Medicine reported sales of $3.67 million during the same quarter last year, which indicates a positive year-over-year growth rate of 2.2%. The firm is expected to issue its next earnings report on Tuesday, March 5th.

According to Zacks, analysts expect that Editas Medicine will report full year sales of $25.13 million for the current year, with estimates ranging from $15.00 million to $39.03 million. For the next fiscal year, analysts expect that the company will post sales of $32.29 million, with estimates ranging from $16.30 million to $58.10 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Editas Medicine.

Editas Medicine (NASDAQ:EDIT) last released its quarterly earnings data on Wednesday, November 7th. The company reported ($0.32) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.72) by $0.40. Editas Medicine had a negative net margin of 410.68% and a negative return on equity of 52.88%. The firm had revenue of $14.52 million during the quarter, compared to analysts’ expectations of $9.83 million. During the same period in the previous year, the business posted ($0.64) earnings per share. The company’s revenue for the quarter was up 131.2% compared to the same quarter last year.

A number of equities analysts have commented on EDIT shares. BidaskClub cut shares of Editas Medicine from a “buy” rating to a “hold” rating in a research report on Thursday, July 26th. JPMorgan Chase & Co. set a $36.00 target price on shares of Editas Medicine and gave the company a “hold” rating in a research report on Monday, August 6th. Zacks Investment Research cut shares of Editas Medicine from a “buy” rating to a “hold” rating in a research report on Thursday, August 9th. Raymond James assumed coverage on shares of Editas Medicine in a research report on Friday, September 21st. They issued an “outperform” rating and a $40.00 target price for the company. Finally, Guggenheim initiated coverage on shares of Editas Medicine in a research report on Tuesday, October 9th. They issued a “neutral” rating for the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $46.50.

EDIT stock traded down $1.03 during midday trading on Monday, reaching $28.95. 706,287 shares of the company were exchanged, compared to its average volume of 658,997. The company has a debt-to-equity ratio of 0.14, a current ratio of 14.50 and a quick ratio of 14.50. Editas Medicine has a one year low of $22.50 and a one year high of $45.02. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of -9.71 and a beta of 3.14.

In other Editas Medicine news, CEO Katrine Bosley sold 12,000 shares of the business’s stock in a transaction dated Monday, August 20th. The stock was sold at an average price of $30.17, for a total transaction of $362,040.00. Following the completion of the transaction, the chief executive officer now owns 1,270,399 shares of the company’s stock, valued at $38,327,937.83. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Andrew A. F. Hack sold 10,000 shares of the business’s stock in a transaction dated Friday, August 31st. The stock was sold at an average price of $32.23, for a total value of $322,300.00. Following the transaction, the chief financial officer now directly owns 10,000 shares of the company’s stock, valued at approximately $322,300. The disclosure for this sale can be found here. Insiders have sold 86,000 shares of company stock valued at $2,601,360 in the last ninety days. 5.20% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Trexquant Investment LP acquired a new position in Editas Medicine during the third quarter worth about $480,000. BlackRock Inc. raised its stake in Editas Medicine by 3.9% during the third quarter. BlackRock Inc. now owns 3,589,141 shares of the company’s stock worth $114,207,000 after acquiring an additional 134,075 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Editas Medicine by 2.9% during the third quarter. Bank of New York Mellon Corp now owns 198,851 shares of the company’s stock worth $6,327,000 after acquiring an additional 5,579 shares in the last quarter. Swiss National Bank raised its stake in Editas Medicine by 4.4% during the third quarter. Swiss National Bank now owns 61,800 shares of the company’s stock worth $1,966,000 after acquiring an additional 2,600 shares in the last quarter. Finally, ARK Investment Management LLC raised its stake in Editas Medicine by 28.1% during the third quarter. ARK Investment Management LLC now owns 2,793,854 shares of the company’s stock worth $88,900,000 after acquiring an additional 612,282 shares in the last quarter. 67.31% of the stock is owned by hedge funds and other institutional investors.

About Editas Medicine

Editas Medicine, Inc operates as a genome editing company. It focuses on treating patients with genetically defined diseases by correcting their disease causing genes. The company develops a proprietary genome editing platform based on CRISPR technology to target genetically defined diseases with an initial focus on debilitating illnesses where there are no approved treatments.

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