Editas Medicine (EDIT) came out with quarterly earnings of $0.12 per share, beating the Zacks Consensus Estimate of a loss of $0.66 per share. This compares to loss of $0.66 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 118.18%. A quarter ago, it was expected that this genome editing company would post a loss of $0.80 per share when it actually produced a loss of $0.43, delivering a surprise of 46.25%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Editas, which belongs to the Zacks Medical – Biomedical and Genetics industry, posted revenues of $62.84 million for the quarter ended September 2020, surpassing the Zacks Consensus Estimate by 759.42%. This compares to year-ago revenues of $3.85 million. The company has topped consensus revenue estimates two times over the last four quarters.
The sustainability of the stock’s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management’s commentary on the earnings call.
Editas shares have added about 2.8% since the beginning of the year versus the S&P 500’s gain of 6.6%.
What’s Next for Editas?
While Editas has underperformed the market so far this year, the question that comes to investors’ minds is: what’s next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company’s earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Editas was mixed. While the magnitude and direction of estimate revisions could change following the company’s just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.89 on $6.57 million in revenues for the coming quarter and -$2.67 on $29.49 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical – Biomedical and Genetics is currently in the bottom 26% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform
We answer the often searched question: “What are the symptoms of coronavirus versus the flu?”
For the first time, the United States added cases faster than one every second on Thursday, Johns Hopkins data shows. The United States reported 88,521 new coronavirus cases, a record for one day. That equaled a new coronavirus case every 0.976 seconds.
With Thursday’s data, the United States also set a record for new cases in a week, at 536,131. The second-highest record was set in the week ending Wednesday. The third, Tuesday. The fourth, Monday. The fifth highest record, Sunday. The sixth-highest record was set in the week ending July 22.
The surge is nationwide: 47 states had more cases in the latest week than in the week before, an analysis of Johns Hopkins University data shows. An analysis of COVID Tracking Project data shows 41 states had a higher rate of people testing positive than the week before, too.
Across the world, Japan topped 100,000 infections, with nearly one-third coming from Tokyo, and India reported declining numbers a day after surpassing 8 million cases, second only to the U.S. Cases are surging in Europe as well, leading to new restrictions.
📈 Today’s numbers: The U.S. has reported more than 8.9 million cases and more than 228,000 deaths, according to Johns Hopkins University data. The global totals: 45 million cases and 1.18 million deaths.
🗺️ Mapping coronavirus: Track the U.S. outbreak in your state.
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CDC says cruise lines can sail Nov. 1 but it’s not likely they will
The Centers for Disease Control and Prevention will allow cruise ships to sail in U.S. waters starting Sunday. But even if they do, passengers won’t be waving goodbye from the deck. In fact, the agency hasn’t said when they’ll be allowed back on board.
That’s according to the public health agency’s new “Framework for Conditional Sailing Order.” Published Friday, it “introduces a phased approach for the safe and responsible resumption for passenger cruises,” the CDC said in a release provided by spokesperson Cate Shockey.
The first cruises to leave port will be simulation sailings designed to show that ships and crews are in compliance with CDC standards and able to mitigate the spread of COVID-19 onboard.
Subsequent phases will include mock voyages with volunteers such as employees or their family members, Shockey told USA TODAY. Those test voyages will be akin to the shakedown cruises that lines do with any new vessel prior to its official maiden voyage.
– Morgan Hines
Congressional COVID-19 panel blasts Trump’s coronavirus response
A Democrat-led congressional panel investigating the federal government’s response to the coronavirus slammed the Trump administration’s handling of the pandemic “as among the worst failures of leadership in American history.”
The scathing 71-page report concluded that the global crisis was exacerbated by political interference, favoritism and neglect that
Oct. 21 (UPI) — U.S. Surgeon General Dr. Jerome Adams joined other top health experts Wednesday in opposing a dangerous “herd immunity” strategy, as the United States again added another 60,000 COVID-19 cases.
According to updated data from Johns Hopkins University, there were 60,300 new cases nationwide on Tuesday — the third time in the past week that the level has topped 60,000.
Deaths in the United States also increased on Tuesday, the data showed, to more than 900. Since the start of the pandemic, there have been 8.28 million cases and about 221,100 deaths nationwide.
Wednesday, Adams joined Dr. Antony Fauci and other top health officials in opposing a herd immunity strategy, which is purportedly being considered by the Trump administration. Adams said pursuing such a strategy, which effectively allows the coronavirus to spread unchecked, would result in an unacceptable death toll.
Adams tweeted that there’s no “example of a large-scale successful intentional infection-based herd immunity strategy” and warned that the course would “lead to many complications/deaths.”
The strategy reasons that letting the virus spread would infect large populations, who would then develop a natural immunity to COVID-19 and thereby reduce the number of people who can be infected afterward. Eventually, the theory goes, the virus would run into a dead end.
“Large numbers of people would need to be infected to achieve herd immunity without a vaccine,” Adams wrote, warning that such a path could “overwhelm” healthcare systems.
Fauci, director of the National Institute of Allergy and Infectious Diseases, rejected the idea of herd immunity last week, calling it “ridiculous” and “total nonsense.”
Most scientists say there would be no feasible way to isolate and protect vulnerable Americans who face a greater risk of death from COVID-19 in such a scenario.
Researchers at the University of Washington say a herd immunity strategy would likely lead to tens of thousands of additional deaths by the start of 2021.
Child cases have increased by almost 15% — 84,000 cases — in the first two weeks of October, according to an update from the American Academy of Pediatrics and Children’s Hospital Association.
Since the start of the crisis, about 740,000 children have tested positive in the United States — almost 11% of total cases, it said. The overall infection rate is 986 per 100,000 children.
Though severe illness and deaths still appear to be rare among children, the groups urged authorities to “provide detailed reports on COVID-19 cases, testing, hospitalizations and mortality by age and race/ethnicity so that the effects of COVID-19 on children’s health can be documented and monitored.”
The Centers for Disease Control and Prevention said Tuesday there have been about 300,000 deaths more than normal so far this year due to the pandemic.
In a typical year, the CDC said, there are about 1.9 million deaths from all causes between February and October. This year, COVID-19 has pushed that figure to near 2.2 million, an increase of 14.5%.
About 200,000 of the extra deaths may be attributed to
KANE COUNTY, IL — Coronavirus statistics in Region 8 are trending toward new restrictions after a surge of new cases over the past few weeks, according to public health data.
The positivity rate in Region 8 — made up of Kane and DuPage counties — hit 8.4 percent Sunday and climbed to 8.5 percent Monday, according to IDPH statistics. That means the county could trigger new restrictions if its positivity rate remains above 8 percent Tuesday.
The positivity rate in Region 8 was just 4.8 percent two weeks ago.
Teens Shot, Robbed Man During Drug Deal In Aurora: Police
Officials from the Illinois Department of Public Health are ready to impose coronavirus restrictions if a region’s positivity rate tops 8 percent for three days in a row. New restrictions could also be imposed if the positivity rate grows alongside increases in hospitalizations and ICU admissions.
Illinois Coronavirus Update Oct. 19 — Don’t miss updates in Kane County as they are announced — Sign up for Patch news alerts and newsletters.
Region 8 has reported positivity-rate increases each of the past 10 days, and five daily increases in hospital admissions over the same period. The region remains well above the state’s thresholds for medical/surgical beds and ICU beds, public health data shows.
Kane County Back On Watch List As Positivity Rate Tops 9%
The IDPH placed Kane County back on its watch list for new restrictions Friday after the county’s positivity rate hit 9.1 percent. Kane County’s positivity rate rose to 10.9 percent by Monday, the highest it’s ever been, according to public health data.
DuPage County’s positivity rate is 7.2 percent, as of Monday, according to the state’s data.
Teens Shot, Robbed Man During Drug Deal In Aurora: Police
Kane County’s seven-day rolling average of daily new cases hit 158.8 cases Sunday after more than 400 new cases over the weekend. That’s nearly twice as high as that measure had been at any point in the previous four months.
Kane County recorded 189 new cases Saturday, the most in a single day since May 21, public health data shows.
This article originally appeared on the Aurora Patch
NEW JERSEY — For the second straight day, there were more than 1,000 new coronavirus cases reported in New Jersey on Monday. It is the third time this month there have been more than 1,000 new cases after the state went an entire summer without such a climb.
But during his Monday news conference, Gov. Phil Murphy said the state’s reopening plans won’t be stopped.
Murphy announced an additional 1,192 cases and four new deaths on Monday. There have now been 221,205 total cases and 14,425 deaths since the beginning of the pandemic.
On Sunday, there were 1,282 new cases and seven new deaths. On Oct. 8, New Jersey reported 1,301 new cases, the highest number of new single-day cases since just after Memorial Day (see list of cases below).
Despite these numbers, Murphy said there isn’t enough evidence to reverse the state’s plans to reopen.
“We don’t have the evidence of the things that can be enforced and regulated,” Murphy said. “We don’t have the evidence that right now that can lead to our reversing.”
Health Commissioner Judith Persichilli the state remains at “moderate risk” of transmission amid the coronavirus crisis. But if the Garden State gets any worse, she said, New Jersey’s solution will be “increased testing, contact tracing, isolation and quarantining.”
New Jersey Coronavirus Updates: Don’t miss local and statewide announcements about novel coronavirus precautions. Sign up for Patch alerts and daily newsletters.
New Jersey hospitals were treating 758 patients for the coronavirus on Sunday, including 579 who had tested positive for the virus. Another 179 people were under investigation. According to Murphy, 166 patients were in intensive care and 62 were on ventilators.
The state is constantly reviewing each hospital’s PPE stockpile, bed availability, and have maintained their waivers as far as expanding the number of beds each hospital has. The state is also continuing to work with hospitals on staffing, including emergency staffing. The state never stopped working with hospitals since the beginning of the pandemic.
The positivity rate for all cases reported on Thursday was 3.36 percent, and the rate of transmission statewide was 1.14.
“While these numbers are a far cry from where we were at our springtime peaks, they are also significantly higher than where we were throughout much of the summer and until just a few weeks ago,” Murphy said. “Many of the new cases we are tracking are coming not from schools or businesses, but from party gatherings inside private homes. Especially as the cooler weather pulls us back inside, we must remain extra vigilant.”
Five counties exceeded 100 cases, including:
Ocean County: 154
Essex County: 132
Union County: 109
Middlesex County: 108
Bergen County: 103
“It’s pretty clear this is up and down the state,” Murphy said. “The cold weather is not our ally. Unfortunately, it’s driving more activity indoors.”
Murphy and Persichilli both stressed the importance of staying outdoors in order to stop the spread of the virus. Along those lines, the state Division of Alcoholic
LONDON — The number of confirmed cases of COVID-19 across the planet has passed 40 million.
The milestone was passed early Monday according to Johns Hopkins University, which collates reporting from around the world.
The actual worldwide figure of COVID-19 cases is likely to be far higher, as testing has been variable, many people have had no symptoms and some governments have concealed the true number of cases. To date, more than 1.1 million confirmed virus deaths have been reported.
The U.S., Brazil and India are reporting by far the highest numbers of cases, although the increase in recent weeks has been driven by a surge in Europe.
HERE’S WHAT YOU NEED TO KNOW ABOUT THE VIRUS OUTBREAK:
— Confirmed cases worldwide top 40 million.
— Coronavirus vaccines will require non-stop sterile refrigeration to stay potent and safe, which may leave 3 billion people without access to them
— India reports lowest daily virus death toll in three months; Poland turns National Stadium into a field hospital
— To avoid the economic hit of full lockdowns, some places where virus is resurgent are trying more targeted restrictions this time
— Congress is past the point of delivering more coronavirus relief before the Nov. 3 election, with Washington’s differences proving insurmountable
— Follow AP’s pandemic coverage at http://apnews.com/VirusOutbreak and https://apnews.com/UnderstandingtheOutbreak
HERE’S WHAT ELSE IS HAPPENING:
VIENNA — Austria will limit private gatherings to six people indoors and 12 outdoors in response to increasing coronavirus infections.
Chancellor Sebastian Kurz said the new restrictions will take effect on Friday. Kurz said after a videoconference with provincial governors on Monday that professional events such as soccer games and operas will only be possible with assigned seats and mask-wearing throughout, and without food and drink being served. There will be a maximum of 1,000 people indoors and 1,500 outdoors.
Kurz acknowledged that new restrictions are unpopular but said they’re necessary. He said the next few months will be challenging “simply because all of us in Austria and Europe are already tired of corona, but it will take months before we can really achieve a breakthrough with a vaccine.”
Austria, a country of some 8.9 million people, has recorded as many as 1,750 new infections per day in recent days — as in many other European countries, seeing the highest numbers since the pandemic began. It has recorded 105.6 new cases per 100,000 residents over the last seven days.
WARSAW, Poland — Poland’s government is transforming the National Stadium in Warsaw into a field hospital to handle the surging number of patients infecting with the coronavirus.
The stadium, with a seating capacity of over 58,500, was constructed to host matches for the Euro 2012 soccer championship.
Government spokesman Piotr Müller said Monday the stadium will have room for 500 patients and will be equipped with oxygen therapy.
“We can see that the number of cases is growing so fast that we need to secure places for hospitalization for those who need it,” Müller said, speaking on