Shares of Edge Therapeutics, Inc. (NASDAQ:EDGE) have earned an average broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy rating.
Analysts have set a 12 month consensus target price of $21.00 for the company and are anticipating that the company will post ($0.48) EPS for the current quarter, according to Zacks. Zacks has also assigned Edge Therapeutics an industry rank of 99 out of 265 based on the ratings given to its competitors.
Several equities research analysts have recently issued reports on the company. Zacks Investment Research lowered Edge Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. BidaskClub upgraded Edge Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, August 3rd.
In other news, insider Brian A. Leuthner sold 7,500 shares of Edge Therapeutics stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $10.53, for a total transaction of $78,975.00. Following the completion of the sale, the insider now directly owns 125,236 shares in the company, valued at approximately $1,318,735.08. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 36.19% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in the stock. Wells Fargo & Company MN boosted its position in Edge Therapeutics by 1.7% in the first quarter. Wells Fargo & Company MN now owns 11,942 shares of the biotechnology company’s stock valued at $109,000 after buying an additional 200 shares during the period. Russell Investments Group Ltd. boosted its position in 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 during the period. Trexquant Investment LP purchased a new position in Edge Therapeutics during the first quarter valued at approximately $143,000. State of Wisconsin Investment Board purchased a new position in Edge Therapeutics during the second quarter valued at approximately $154,000. Finally, Spark Investment Management LLC purchased a new position in Edge Therapeutics during the first quarter valued at approximately $157,000. Institutional investors and hedge funds own 48.55% of the company’s stock.
Edge Therapeutics (EDGE) traded up 6.28% on Tuesday, reaching $11.51. 98,213 shares of the company’s stock traded hands. Edge Therapeutics has a 52 week low of $7.30 and a 52 week high of $13.50. The firm’s market capitalization is $354.84 million. The stock has a 50-day moving average of $10.33 and a 200 day moving average of $9.80.
Edge Therapeutics (NASDAQ:EDGE) last released its earnings results on Tuesday, August 1st. The biotechnology company reported ($0.44) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.44). On average, equities analysts expect that Edge Therapeutics will post ($1.87) EPS for the current fiscal year.
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About Edge Therapeutics
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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