Edge Therapeutics (NASDAQ:EDGE) Upgraded to “Hold” at BidaskClub

BidaskClub upgraded shares of Edge Therapeutics (NASDAQ:EDGE) from a sell rating to a hold rating in a research report sent to investors on Saturday, January 20th.

Other equities analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of Edge Therapeutics from a sell rating to a buy rating and set a $12.00 price target on the stock in a research note on Monday, November 6th. Credit Suisse Group restated an outperform rating and set a $17.00 target price on shares of Edge Therapeutics in a research report on Thursday, January 18th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $20.00.

Edge Therapeutics (NASDAQ:EDGE) opened at $13.26 on Friday. The company has a market cap of $409.81 and a P/E ratio of -8.50. Edge Therapeutics has a one year low of $7.30 and a one year high of $13.98. The company has a quick ratio of 8.34, a current ratio of 8.34 and a debt-to-equity ratio of 0.20.

In related news, insider Brian A. Leuthner sold 5,000 shares of the stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $10.11, for a total transaction of $50,550.00. Following the completion of the sale, the insider now directly owns 87,736 shares of the company’s stock, valued at $887,010.96. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Brian A. Leuthner sold 7,500 shares of the stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $9.86, for a total value of $73,950.00. Following the sale, the insider now directly owns 95,236 shares of the company’s stock, valued at $939,026.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,861 shares of company stock worth $215,760. Insiders own 36.19% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Schwab Charles Investment Management Inc. increased its position in shares of Edge Therapeutics by 0.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 75,279 shares of the biotechnology company’s stock valued at $773,000 after buying an additional 532 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Edge Therapeutics by 16.9% in the second quarter. Russell Investments Group Ltd. now owns 11,959 shares of the biotechnology company’s stock valued at $123,000 after buying an additional 1,733 shares in the last quarter. California State Teachers Retirement System increased its position in shares of Edge Therapeutics by 7.7% in the second quarter. California State Teachers Retirement System now owns 35,167 shares of the biotechnology company’s stock valued at $361,000 after buying an additional 2,500 shares in the last quarter. Rhumbline Advisers increased its position in shares of Edge Therapeutics by 19.1% in the second quarter. Rhumbline Advisers now owns 19,960 shares of the biotechnology company’s stock valued at $205,000 after buying an additional 3,195 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of Edge Therapeutics by 26.2% in the second quarter. The Manufacturers Life Insurance Company now owns 18,114 shares of the biotechnology company’s stock valued at $186,000 after buying an additional 3,764 shares in the last quarter. Institutional investors and hedge funds own 50.31% of the company’s stock.

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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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