BidaskClub upgraded shares of Edge Therapeutics (NASDAQ:EDGE) from a hold rating to a buy rating in a research note released on Monday, February 5th.
Several other equities analysts have also recently issued reports on EDGE. Credit Suisse Group reiterated an outperform rating and set a $17.00 price target on shares of Edge Therapeutics in a research report on Thursday, January 18th. Zacks Investment Research cut Edge Therapeutics from a buy rating to a hold rating in a report on Wednesday, January 3rd. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Edge Therapeutics has a consensus rating of Buy and a consensus target price of $20.00.
Shares of Edge Therapeutics (EDGE) opened at $13.61 on Monday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 8.34 and a current ratio of 8.34. The firm has a market capitalization of $409.19, a price-to-earnings ratio of -8.72 and a beta of 3.32. Edge Therapeutics has a 12 month low of $7.30 and a 12 month high of $13.98.
In other Edge Therapeutics news, insider Brian A. Leuthner sold 7,500 shares of the business’s stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $9.86, for a total value of $73,950.00. Following the completion of the sale, the insider now owns 95,236 shares of the company’s stock, valued at $939,026.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Brian A. Leuthner sold 2,500 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $13.14, for a total value of $32,850.00. Following the completion of the sale, the chief executive officer now directly owns 82,736 shares of the company’s stock, valued at approximately $1,087,151.04. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,861 shares of company stock valued at $215,760. Insiders own 36.19% of the company’s stock.
Several institutional investors have recently bought and sold shares of EDGE. Janus Henderson Group PLC bought a new position in shares of Edge Therapeutics in the second quarter worth about $21,962,000. JPMorgan Chase & Co. increased its stake in Edge Therapeutics by 223.4% during the third quarter. JPMorgan Chase & Co. now owns 379,075 shares of the biotechnology company’s stock valued at $4,063,000 after acquiring an additional 261,850 shares during the period. Sphera Funds Management LTD. increased its stake in Edge Therapeutics by 122.5% during the third quarter. Sphera Funds Management LTD. now owns 333,737 shares of the biotechnology company’s stock valued at $3,581,000 after acquiring an additional 183,737 shares during the period. State Street Corp increased its stake in Edge Therapeutics by 16.3% during the second quarter. State Street Corp now owns 277,352 shares of the biotechnology company’s stock valued at $2,847,000 after acquiring an additional 38,909 shares during the period. Finally, Goldman Sachs Group Inc. bought a new position in Edge Therapeutics during the second quarter valued at about $374,000. 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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