Edge Therapeutics, Inc. (EDGE) Upgraded by Zacks Investment Research to Hold
Zacks Investment Research upgraded shares of Edge Therapeutics, Inc. (NASDAQ:EDGE) from a sell rating to a hold rating in a research note issued to investors on Tuesday morning.
According to Zacks, “Edge Therapeutics, Inc. is a biotechnology company which discovers, develops and commercializes hospital-based therapies for acute life-threatening neurological conditions. Its lead product candidate which are in preclinical trial EG-1962, a polymer-based microparticle used for the treatment of aneurysmal subarachnoid hemorrhage, EG-1964, to prevent recurrent bleeding after treatment for cSDH and EG-1963, to prevent rebleeding following surgeries outside the brain. Edge Therapeutics, Inc. is headquartered in Berkeley Heights, New Jersey. “
Separately, BidaskClub raised shares of Edge Therapeutics from a hold rating to a buy rating in a research note on Thursday, August 3rd.
Shares of Edge Therapeutics (EDGE) opened at 10.53 on Tuesday. Edge Therapeutics has a 1-year low of $7.30 and a 1-year high of $13.50. The firm has a 50-day moving average of $10.56 and a 200 day moving average of $9.86. The stock’s market capitalization is $324.86 million.
Edge Therapeutics (NASDAQ:EDGE) last issued its quarterly earnings data on Tuesday, August 1st. The biotechnology company reported ($0.44) EPS for the quarter, hitting analysts’ consensus estimates of ($0.44). Analysts predict that Edge Therapeutics will post ($1.87) EPS for the current year.
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In related news, insider Albert N. Marchio II sold 2,500 shares of Edge Therapeutics stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $10.42, for a total value of $26,050.00. Following the sale, the insider now owns 3,361 shares of the company’s stock, valued at approximately $35,021.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brian A. Leuthner sold 7,500 shares of Edge Therapeutics stock in a transaction on Thursday, August 3rd. The shares were 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 disclosure for this sale can be found here. Insiders sold a total of 18,500 shares of company stock worth $191,840 in the last three months. 36.19% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Voya Investment Management LLC bought a new stake in Edge Therapeutics during the second quarter worth about $106,000. Wells Fargo & Company MN boosted its stake 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 worth $109,000 after buying an additional 200 shares in the last quarter. Russell Investments Group Ltd. boosted its stake 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 worth $123,000 after buying an additional 1,733 shares in the last quarter. Trexquant Investment LP bought a new stake in Edge Therapeutics during the first quarter worth about $143,000. Finally, State of Wisconsin Investment Board bought a new stake in Edge Therapeutics during the second quarter worth about $154,000. 49.38% of the stock is currently owned by hedge funds and other institutional investors.
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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