BidaskClub upgraded shares of Edge Therapeutics (NASDAQ:EDGE) from a hold rating to a buy rating in a research note issued to investors on Monday morning.
A number of other analysts have also recently issued reports on EDGE. Zacks Investment Research upgraded shares of Edge Therapeutics from a sell rating to a buy rating and set a $12.00 target price for the company in a research note on Monday, November 6th. Credit Suisse Group reiterated an outperform rating and issued a $17.00 target price on shares of Edge Therapeutics in a research note on Thursday, January 18th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $20.00.
Shares of Edge Therapeutics (NASDAQ:EDGE) opened at $13.50 on Monday. 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 $13.76.
In other news, insider Brian A. Leuthner sold 5,000 shares of the business’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $10.11, for a total value of $50,550.00. Following the completion of the sale, the insider now directly owns 87,736 shares in the company, valued at $887,010.96. The sale was disclosed in a 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 on Thursday, February 1st. The stock was sold at an average price of $13.14, for a total transaction of $32,850.00. Following the completion of the sale, the chief executive officer now owns 82,736 shares of the company’s stock, valued at $1,087,151.04. The disclosure for this sale can be found here. Insiders sold 20,861 shares of company stock valued at $215,760 over the last quarter. Corporate insiders own 36.19% of the company’s stock.
Several institutional investors have recently modified their holdings of EDGE. 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 worth $773,000 after buying an additional 532 shares during the last quarter. 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 worth $205,000 after buying an additional 3,195 shares during the last quarter. Teachers Advisors LLC lifted its stake in shares of Edge Therapeutics by 21.1% in the second quarter. Teachers Advisors LLC now owns 34,329 shares of the biotechnology company’s stock worth $352,000 after buying an additional 5,976 shares during the last quarter. TIAA CREF Investment Management LLC lifted its stake in shares of Edge Therapeutics by 12.8% in the second quarter. TIAA CREF Investment Management LLC now owns 50,210 shares of the biotechnology company’s stock worth $515,000 after buying an additional 5,705 shares during the last quarter. Finally, Voya Investment Management LLC acquired a new stake in shares of Edge Therapeutics in the second quarter worth $106,000. Institutional investors and hedge funds own 50.27% 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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