Oppenheimer analyst Leah R. Cann maintained a Hold rating on Editas Medicine Inc (NASDAQ: EDIT) today. The company’s shares closed yesterday at $29.09.
Cann said:
“Loss per share was $0.82, compared to our estimated loss of $0.74. This resulty primarily from higher than expected operating expenses. Operating expenses were $39.7 million, compared to our estimated $38.1 million. This was driven by higher than estimated R&D expenses, resulting from a $9.6 million milestone payment. In addition, interest income was higher than our estimate. Shares outstanding were 2.1% higher than our estimated 46.0 million. The higher share count and interest income only partially offset the higher than estimated operating expenses.”
According to TipRanks.com, Cann is a 5-star analyst with an average return of 20.2% and a 55.6% success rate. Cann covers the Healthcare sector, focusing on stocks such as Miragen Therapeutics Inc, CytomX Therapeutics Inc, and Crispr Therapeutics AG.
Currently, the analyst consensus on Editas Medicine Inc is a Moderate Buy with an average price target of $39.
See today’s analyst top recommended stocks >>
The company has a one-year high of $45.02 and a one-year low of $17.35. Currently, Editas Medicine Inc has an average volume of 988.8K.
Based on the recent corporate insider activity of 29 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of EDIT in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Editas Medicine, Inc. engages in the development and commercialization of genome editing technology. Its technology includes clustered, regularly interspaced short palindromic repeats (CRISPR); and CRISPR associated protein 9 (Cas9).
