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Editas Medicine (EDIT) Outpaces Stock Market Gains: What You Should Know
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Editas Medicine (EDIT - Free Report) closed at $63.18 in the latest trading session, marking a +1.64% move from the prior day. The stock outpaced the S&P 500's daily gain of 1.09%. At the same time, the Dow added 1.08%, and the tech-heavy Nasdaq gained 1.23%.
EDIT will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of -$0.82, down 10.81% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $6.80 million, down 44.65% from the prior-year quarter.
Any recent changes to analyst estimates for EDIT should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 6.06% lower within the past month. EDIT is currently a Zacks Rank #3 (Hold).
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 218, putting it in the bottom 15% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow EDIT in the coming trading sessions, be sure to utilize Zacks.com.
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Editas Medicine (EDIT) Outpaces Stock Market Gains: What You Should Know
Editas Medicine (EDIT - Free Report) closed at $63.18 in the latest trading session, marking a +1.64% move from the prior day. The stock outpaced the S&P 500's daily gain of 1.09%. At the same time, the Dow added 1.08%, and the tech-heavy Nasdaq gained 1.23%.
EDIT will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of -$0.82, down 10.81% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $6.80 million, down 44.65% from the prior-year quarter.
Any recent changes to analyst estimates for EDIT should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 6.06% lower within the past month. EDIT is currently a Zacks Rank #3 (Hold).
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 218, putting it in the bottom 15% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow EDIT in the coming trading sessions, be sure to utilize Zacks.com.