In the latest trading session, Editas Medicine (EDIT) closed at $76.14, marking a +0.29% move from the previous day. This change outpaced the S&P 500’s 0.72% loss on the day. Elsewhere, the Dow lost 0.57%, while the tech-heavy Nasdaq lost 0.87%.
Heading into today, shares of the genome editing company had gained 21.07% over the past month, outpacing the Medical sector’s gain of 3.28% and the S&P 500’s gain of 4.69% in that time.
Wall Street will be looking for positivity from EDIT as it approaches its next earnings report date. In that report, analysts expect EDIT to post earnings of -$0.82 per share. This would mark a year-over-year decline of 10.81%. Our most recent consensus estimate is calling for quarterly revenue of $6.80 million, down 44.65% from the year-ago period.
It is also important to note the recent changes to analyst estimates for EDIT. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company’s business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. EDIT is holding a Zacks Rank of #4 (Sell) right now.
The Medical – Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 209, which puts it in the bottom 19% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Editas Medicine, Inc. (EDIT): Free Stock Analysis Report
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