Editas Medicine (NASDAQ:EDIT) Price Target Lowered to $11.00 at Stifel Nicolaus

Editas Medicine (NASDAQ:EDIT) had its target price lowered by Stifel Nicolaus from $17.00 to $11.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other brokerages also recently issued reports on EDIT. Raymond James downgraded shares of Editas Medicine from an “outperform” rating to a “market perform” rating in a research note on Monday, November 4th. Chardan Capital cut their target price on shares of Editas Medicine from $20.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. Wells Fargo & Company cut their target price on shares of Editas Medicine from $9.00 to $7.00 and set an “overweight” rating for the company in a research note on Tuesday. Royal Bank of Canada reiterated a “sector perform” rating and issued a $8.00 target price on shares of Editas Medicine in a research note on Thursday, September 19th. Finally, Barclays cut their target price on shares of Editas Medicine from $7.00 to $5.00 and set an “equal weight” rating for the company in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $9.08.

Editas Medicine Price Performance

Editas Medicine stock opened at $3.12 on Tuesday. The firm has a 50-day moving average of $3.39 and a 200-day moving average of $4.47. Editas Medicine has a one year low of $2.70 and a one year high of $11.69. The company has a market cap of $257.34 million, a price-to-earnings ratio of -1.22 and a beta of 2.01.

Editas Medicine (NASDAQ:EDIT) last posted its quarterly earnings data on Monday, November 4th. The company reported ($0.75) EPS for the quarter, hitting analysts’ consensus estimates of ($0.75). Editas Medicine had a negative net margin of 340.96% and a negative return on equity of 72.15%. The company had revenue of $0.06 million during the quarter, compared to the consensus estimate of $3.93 million. During the same period in the prior year, the business posted ($0.55) EPS. The company’s quarterly revenue was down 98.9% on a year-over-year basis. As a group, sell-side analysts expect that Editas Medicine will post -2.96 earnings per share for the current year.

Institutional Trading of Editas Medicine

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Editas Medicine by 59.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 314,774 shares of the company’s stock worth $2,246,000 after purchasing an additional 116,803 shares during the last quarter. Jennison Associates LLC grew its stake in shares of Editas Medicine by 29.1% in the first quarter. Jennison Associates LLC now owns 106,520 shares of the company’s stock worth $790,000 after purchasing an additional 24,000 shares during the last quarter. Headlands Technologies LLC grew its stake in shares of Editas Medicine by 481.7% in the first quarter. Headlands Technologies LLC now owns 9,493 shares of the company’s stock worth $70,000 after purchasing an additional 7,861 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of Editas Medicine by 147.4% in the first quarter. Russell Investments Group Ltd. now owns 12,838 shares of the company’s stock worth $95,000 after purchasing an additional 7,648 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Editas Medicine by 1.1% in the first quarter. Vanguard Group Inc. now owns 8,555,597 shares of the company’s stock worth $63,483,000 after purchasing an additional 93,740 shares during the last quarter. Institutional investors own 71.90% 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.