Shares of Editas Medicine(NASDAQ: EDIT)sank 11.4% as of the market close on Wednesday. The big decline came after AbbVie(NYSE: ABBV)announced a partnership with privately held Caribou Biosciences to develop chimeric antigen receptor T cell (CAR-T) therapies. So what Why did AbbVie's deal with Caribou cause Editas stock to fall?
Full Answer
What is the upside for Editas Medicine's stock?
Their forecasts range from $20.00 to $86.00. On average, they anticipate Editas Medicine's share price to reach $56.40 in the next twelve months. This suggests a possible upside of 124.3% from the stock's current price. View analysts' price targets for Editas Medicine or view top-rated stocks among Wall Street analysts.
Will Editas Medicine’s earnings drop in the next year?
Earnings for Editas Medicine are expected to decrease in the coming year, from ($3.08) to ($3.40) per share. The P/E ratio of Editas Medicine is -7.76, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.
Should you buy Editas stock on the pullback?
It's hard for any stock to swim against the tide when a larger decline is underway. For investors who like Editas' prospects, the pullback this week could present a good buying opportunity. However, the stock remains highly risky with its lead pipeline candidate only in early-stage testing.
Is Editas Medicine's P/E ratio good or bad?
The P/E ratio of Editas Medicine is -7.76, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings. The P/E ratio of Editas Medicine is -7.76, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.
Why is Editas medicine stock going down?
However, the main factor behind Editas' decline this week appears to be the overall sell-off in biotech stocks.
Is Editas stock a good buy?
Out of 7 analysts, 2 (28.57%) are recommending EDIT as a Strong Buy, 2 (28.57%) are recommending EDIT as a Buy, 2 (28.57%) are recommending EDIT as a Hold, 0 (0%) are recommending EDIT as a Sell, and 1 (14.29%) are recommending EDIT as a Strong Sell.
Will Editas stock go up?
The 14 analysts offering 12-month price forecasts for Editas Medicine Inc have a median target of 27.50, with a high estimate of 80.00 and a low estimate of 8.00. The median estimate represents a +149.32% increase from the last price of 11.03.
What is happening with Editas Medicine?
Editas Medicine (EDIT) Reports Q1 Loss, Tops Revenue Estimates. Editas (EDIT) delivered earnings and revenue surprises of 8.64% and 44.06%, respectively, for the quarter ended March 2022.
What company owns the CRISPR patent?
(NASDAQ:NTLA), and Caribou Biosciences, Inc., announced that The Regents of the University of California, the University of Vienna and Emmanuelle Charpentier, Ph. D. (collectively, "UC"), co-owners of foundational intellectual property relating to CRISPR/Cas9 genome editing technology, were granted U.S. Patent No.
Who owns Editas medicine?
Editas MedicineTypePublic companyFoundersJennifer Doudna, Feng Zhang, George Church (geneticist), David R. Liu, J. Keith JoungHeadquartersCambridge, Massachusetts , United StatesNumber of locations2Key peopleGilmore O'Neill (President and CEO)8 more rows
Is RPTX a buy?
Is REPARE THERAPEUTICS Stock a good buy in 2022, according to Wall Street analysts? The consensus among 5 Wall Street analysts covering (NASDAQ: RPTX) stock is to Strong Buy RPTX stock.
Is CRSP a buy?
Out of 12 analysts, 4 (33.33%) are recommending CRSP as a Strong Buy, 4 (33.33%) are recommending CRSP as a Buy, 4 (33.33%) are recommending CRSP as a Hold, 0 (0%) are recommending CRSP as a Sell, and 0 (0%) are recommending CRSP as a Strong Sell.
Is Ntla a good stock to buy?
Out of 16 analysts, 7 (43.75%) are recommending NTLA as a Strong Buy, 7 (43.75%) are recommending NTLA as a Buy, 2 (12.5%) are recommending NTLA as a Hold, 0 (0%) are recommending NTLA as a Sell, and 0 (0%) are recommending NTLA as a Strong Sell.
Who is the CEO of Editas medicine?
James C Mullen (Feb 15, 2021–)Editas Medicine / CEO
Who are the founders of Editas?
Jennifer DoudnaFeng ZhangGeorge ChurchJ. Keith JoungDavid R. LiuEditas Medicine/Founders
What happened
Shares of Editas Medicine (NASDAQ: EDIT) were tumbling 13% lower this week as of the market close on Thursday, based on data from S&P Global Market Intelligence. The company presented at the virtual J. P. Morgan Healthcare Conference on Wednesday. However, Editas had a generally positive message about its plans for 2022.
So what
It's hard for any stock to swim against the tide when a larger decline is underway. For investors who like Editas' prospects, the pullback this week could present a good buying opportunity. However, the stock remains highly risky with its lead pipeline candidate only in early-stage testing.
Now what
There are plenty of potential catalysts ahead for Editas. The company expects to report more results from its early-stage study of EDIT-101 in treating Leber congenital amaurosis 10, a rare genetic eye disease, in the second half of 2022. It also plans to announce initial clinical data for EDIT-301 in treating sickle cell disease this year.
About Editas Medicine
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.
Editas Medicine (NASDAQ:EDIT) Frequently Asked Questions
13 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Editas Medicine in the last year. There are currently 3 sell ratings, 5 hold ratings and 5 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "hold" Editas Medicine stock.
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