Editas Q3 Loss Narrower Than Expected, Revenues Decrease Y/Y [Yahoo! Finance]
Editas Medicine, Inc. (EDIT)
Last editas medicine, inc. earnings: 2/26 04:02 pm
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Source: Yahoo! Finance
The company had reported a loss of 55 cents per share in the year-ago quarter. Collaboration and other research and development (R&D) revenues, which comprise the company's top line, were $0.1 million in the reported quarter, down from $5.3 million reported in the year-ago quarter. The reported figure missed the Zacks Consensus Estimate of $7 million. The year-over-year decline in revenues can be attributed to an upfront payment received in the year-ago quarter for a non-exclusive license grant to Vor Bio. Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar. In the third quarter of 2024, R&D expenses increased 18% to $47.6 million compared with $40.5 million reported in the year-ago period. The uptick in R&D expenses can be attributed to higher clinical and manufacturing costs related to the accelerated progression of Editas' reni-cel program as well as costs attributable to in vivo research and discovery. General and administrative expenses were $18.1 mil
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News
- Editas Medicine, Inc. (NASDAQ: EDIT) had its "buy" rating re-affirmed by analysts at Chardan Capital. They now have a $12.00 price target on the stock.MarketBeat
- Editas Medicine, Inc. (NASDAQ: EDIT) had its price target lowered by analysts at Royal Bank of Canada from $8.00 to $5.00. They now have a "sector perform" rating on the stock.MarketBeat
- Editas Medicine, Inc. (NASDAQ: EDIT) had its price target lowered by analysts at Stifel Nicolaus from $17.00 to $11.00. They now have a "buy" rating on the stock.MarketBeat
- Editas Medicine, Inc. (NASDAQ: EDIT) had its price target lowered by analysts at Wells Fargo & Company from $9.00 to $7.00. They now have an "overweight" rating on the stock.MarketBeat
- Editas Medicine, Inc. (NASDAQ: EDIT) had its price target lowered by analysts at Truist Financial Co. from $12.00 to $8.00. They now have a "buy" rating on the stock.MarketBeat
EDIT
Earnings
- 11/4/24 - Beat
EDIT
Sec Filings
- 11/4/24 - Form SC
- 11/4/24 - Form 10-Q
- 11/4/24 - Form 8-K
- EDIT's page on the SEC website