Oppenheimer Releases a Hold Rating on Editas Medicine (EDIT)

In a report released today, Silvan Tuerkcan from Oppenheimer assigned a Hold rating to Editas Medicine (EDITResearch Report). The company’s shares closed last Thursday at $24.10.

According to TipRanks.com, Tuerkcan is a 5-star analyst with an average return of 40.7% and a 75.9% success rate. Tuerkcan covers the Healthcare sector, focusing on stocks such as Constellation Pharmaceuticals, Crispr Therapeutics AG, and Intellia Therapeutics.

Currently, the analyst consensus on Editas Medicine is a Moderate Buy with an average price target of $36.80.

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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 $12.28 million and GAAP net loss of $37.77 million. In comparison, last year the company earned revenue of $6.12 million and had a GAAP net loss of $25.06 million.

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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.