Edge Therapeutics Inc (NASDAQ:EDGE) has earned a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy recommendation.
Brokerages have set a 1-year consensus price objective of $21.00 for the company and are forecasting that the company will post ($0.47) earnings per share for the current quarter, according to Zacks. Zacks has also given Edge Therapeutics an industry rank of 100 out of 265 based on the ratings given to related companies.
A number of equities research analysts have issued reports on the stock. BidaskClub cut shares of Edge Therapeutics from a “buy” rating to a “hold” rating in a report on Monday, August 14th. Zacks Investment Research upgraded shares of Edge Therapeutics from a “sell” rating to a “buy” rating and set a $12.00 price target for the company in a report on Monday, November 6th.
In related news, CEO Brian A. Leuthner sold 2,500 shares of the stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $10.93, for a total value of $27,325.00. Following the completion of the sale, the chief executive officer now owns 110,236 shares in the company, valued at $1,204,879.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Brian A. Leuthner sold 7,500 shares of the stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $9.86, for a total transaction of $73,950.00. Following the completion of the sale, the insider now owns 95,236 shares of the company’s stock, valued at approximately $939,026.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,861 shares of company stock valued at $378,035. 36.19% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. lifted its stake 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 during the period. Russell Investments Group Ltd. lifted its stake 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 during the period. California State Teachers Retirement System lifted its stake 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 during the period. Rhumbline Advisers lifted its stake 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 during the period. Finally, The Manufacturers Life Insurance Company lifted its stake 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 during the period. Institutional investors and hedge funds own 50.26% of the company’s stock.
Edge Therapeutics (EDGE) traded down $0.17 during mid-day trading on Monday, reaching $9.23. 55,118 shares of the company’s stock were exchanged, compared to its average volume of 62,906. The company has a debt-to-equity ratio of 0.20, a current ratio of 8.34 and a quick ratio of 8.34. Edge Therapeutics has a one year low of $7.30 and a one year high of $13.50.
Edge Therapeutics (NASDAQ:EDGE) last released its quarterly earnings results 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. equities analysts anticipate that Edge Therapeutics will post -1.7 EPS for the current fiscal year.
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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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