Edge Therapeutics (EDGE) Lifted to Hold at BidaskClub
Edge Therapeutics (NASDAQ:EDGE) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Saturday.
Other equities research analysts have also recently issued research reports about the company. Credit Suisse Group reiterated an “outperform” rating and set a $17.00 price objective on shares of Edge Therapeutics in a research note on Thursday. Zacks Investment Research cut Edge Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Edge Therapeutics currently has an average rating of “Hold” and an average price target of $20.00.
Shares of Edge Therapeutics (NASDAQ EDGE) opened at $12.40 on Friday. Edge Therapeutics has a 12 month low of $7.30 and a 12 month high of $12.70. The stock has a market capitalization of $382.65 and a P/E ratio of -7.95. The company has a debt-to-equity ratio of 0.20, a quick ratio of 8.34 and a current ratio of 8.34.
In related news, CEO Brian A. Leuthner sold 2,500 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $10.92, for a total value of $27,300.00. Following the sale, the chief executive officer now owns 102,736 shares in the company, valued at approximately $1,121,877.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Albert N. Marchio II sold 3,361 shares of the stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $10.00, for a total value of $33,610.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,361 shares of company stock worth $292,035. 36.19% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of EDGE. Voya Investment Management LLC bought a new stake in Edge Therapeutics in the 2nd quarter valued at $106,000. Russell Investments Group Ltd. raised its stake in Edge Therapeutics by 16.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 11,959 shares of the biotechnology company’s stock valued at $123,000 after acquiring an additional 1,733 shares during the period. Trexquant Investment LP bought a new stake in Edge Therapeutics in the 3rd quarter valued at $130,000. Wells Fargo & Company MN raised its stake in Edge Therapeutics by 44.4% in the 3rd quarter. Wells Fargo & Company MN now owns 17,249 shares of the biotechnology company’s stock valued at $186,000 after acquiring an additional 5,307 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in Edge Therapeutics by 26.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,114 shares of the biotechnology company’s stock valued at $186,000 after acquiring an additional 3,764 shares during the period. Institutional investors and hedge funds own 50.26% of the company’s stock.
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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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