BidaskClub upgraded shares of Edge Therapeutics (NASDAQ:EDGE) from a strong sell rating to a sell rating in a research report sent to investors on Thursday, January 11th.
Separately, Zacks Investment Research downgraded Edge Therapeutics from a buy rating to a hold rating in a research note on Wednesday, January 3rd. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Edge Therapeutics presently has a consensus rating of Hold and an average price target of $20.00.
Shares of Edge Therapeutics (EDGE) traded up $0.85 on Thursday, hitting $12.40. The stock had a trading volume of 140,400 shares, compared to its average volume of 184,692. Edge Therapeutics has a one year low of $7.30 and a one year high of $12.70. The firm has a market cap of $378.64 and a price-to-earnings ratio of -7.95. The company has a current ratio of 8.34, a quick ratio of 8.34 and a debt-to-equity ratio of 0.20.
Edge Therapeutics (NASDAQ:EDGE) last released its quarterly earnings data on Wednesday, November 1st. The biotechnology company reported ($0.37) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.48) by $0.11. sell-side analysts forecast that Edge Therapeutics will post -1.7 EPS for the current year.
In other Edge Therapeutics news, insider Brian A. Leuthner sold 7,500 shares of the business’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $10.91, for a total value of $81,825.00. Following the transaction, the insider now owns 102,736 shares in the company, valued at $1,120,849.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian A. Leuthner sold 2,500 shares of the business’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $10.92, for a total value of $27,300.00. Following the completion of the transaction, the chief executive officer now owns 102,736 shares in the company, valued at approximately $1,121,877.12. The disclosure for this sale can be found here. Insiders have sold 28,361 shares of company stock worth $292,035 over the last ninety days. 36.19% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Franklin Resources Inc. grew its stake in shares of Edge Therapeutics by 1.1% in the 2nd quarter. Franklin Resources Inc. now owns 2,663,123 shares of the biotechnology company’s stock valued at $27,324,000 after purchasing an additional 30,100 shares during the period. Janus Henderson Group PLC bought a new stake in Edge Therapeutics during the 2nd quarter worth approximately $21,962,000. JPMorgan Chase & Co. grew its position in Edge Therapeutics by 223.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 379,075 shares of the biotechnology company’s stock worth $4,063,000 after acquiring an additional 261,850 shares during the last quarter. Sphera Funds Management LTD. grew its position in Edge Therapeutics by 122.5% during the 3rd quarter. Sphera Funds Management LTD. now owns 333,737 shares of the biotechnology company’s stock worth $3,581,000 after acquiring an additional 183,737 shares during the last quarter. Finally, State Street Corp boosted its position in Edge Therapeutics by 16.3% in the 2nd quarter. State Street Corp now owns 277,352 shares of the biotechnology company’s stock valued at $2,847,000 after buying an additional 38,909 shares during the last quarter. 50.27% of the stock is owned by institutional investors and hedge funds.
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Edge Therapeutics Company Profile
Edge Therapeutics, Inc is a clinical-stage biotechnology company that discovers, develops and seeks to commercialize hospital-based therapies capable of transforming treatment paradigms in the management of acute, life-threatening critical care conditions. The Company’s initial product candidates target rare, acute, life-threatening neurological and other conditions.
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