Oppenheimer analyst Jay Olson maintained a Hold rating on Editas Medicine (EDIT) today. The company’s shares closed last Wednesday at $34.72, close to its 52-week low of $23.51.
According to TipRanks.com, Olson is a 3-star analyst with an average return of 2.6% and a 44.9% success rate. Olson covers the Healthcare sector, focusing on stocks such as Constellation Pharmaceuticals, Madrigal Pharmaceuticals, and Enanta Pharmaceuticals.
Editas Medicine has an analyst consensus of Hold, with a price target consensus of $44.25, which is a 26.4% upside from current levels. In a report issued on May 3, RBC Capital also initiated coverage with a Hold rating on the stock with a $40.00 price target.
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Based on Editas Medicine’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $11.42 million and GAAP net loss of $62.5 million. In comparison, last year the company earned revenue of $12.28 million and had a GAAP net loss of $37.77 million.
Based on the recent corporate insider activity of 13 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.
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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). The company was founded by Feng Zhang, Jennifer A. Doudna, George McDonald Church, J. Keith Joung and David R. Liu in September 2013 and is headquartered in Cambridge, MA.