Brokerages Set Editas Medicine, Inc. (NASDAQ:EDIT) Target Price at $15.73

Shares of Editas Medicine, Inc. (NASDAQ:EDITGet Free Report) have been given a consensus rating of “Moderate Buy” by the ten ratings firms that are currently covering the firm, MarketBeat reports. Five analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $15.73.

Several research firms recently weighed in on EDIT. Cantor Fitzgerald lowered shares of Editas Medicine from an “overweight” rating to a “neutral” rating in a research note on Tuesday, October 17th. Truist Financial lifted their price objective on shares of Editas Medicine from $15.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, December 12th. StockNews.com raised shares of Editas Medicine from a “sell” rating to a “hold” rating in a research note on Friday. Citigroup upgraded shares of Editas Medicine from a “neutral” rating to a “buy” rating and set a $11.00 target price on the stock in a report on Tuesday, October 24th. Finally, JPMorgan Chase & Co. upgraded shares of Editas Medicine from an “underweight” rating to a “neutral” rating and set a $8.00 target price on the stock in a report on Wednesday, October 18th.

View Our Latest Report on Editas Medicine

Editas Medicine Price Performance

Editas Medicine stock opened at $8.13 on Tuesday. The company’s 50 day simple moving average is $9.22 and its 200 day simple moving average is $8.63. Editas Medicine has a fifty-two week low of $6.08 and a fifty-two week high of $11.91. The firm has a market capitalization of $663.98 million, a price-to-earnings ratio of -3.01 and a beta of 1.96.

Hedge Funds Weigh In On Editas Medicine

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in Editas Medicine by 4.5% during the third quarter. Vanguard Group Inc. now owns 8,536,208 shares of the company’s stock valued at $66,582,000 after purchasing an additional 370,734 shares during the last quarter. State Street Corp grew its stake in Editas Medicine by 43.8% in the second quarter. State Street Corp now owns 7,879,890 shares of the company’s stock valued at $93,219,000 after purchasing an additional 2,399,852 shares in the last quarter. BlackRock Inc. grew its stake in Editas Medicine by 2.4% in the second quarter. BlackRock Inc. now owns 7,595,696 shares of the company’s stock valued at $62,513,000 after purchasing an additional 177,334 shares in the last quarter. Deep Track Capital LP bought a new position in Editas Medicine in the second quarter valued at approximately $28,424,000. Finally, Marshall Wace LLP bought a new position in Editas Medicine in the second quarter valued at approximately $23,359,000. Institutional investors own 76.61% of the company’s stock.

Editas Medicine Company Profile

(Get Free Report

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 10; autosomal dominant retinitis pigmentosa; and EDIT-301, a clinical development gene-edited medicine to treat sickle cell disease and transfusion-dependent beta-thalassemia.

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Analyst Recommendations for Editas Medicine (NASDAQ:EDIT)

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