BidaskClub upgraded shares of Edge Therapeutics (NASDAQ:EDGE) from a buy rating to a strong-buy rating in a research report released on Wednesday morning.

A number of other equities analysts have also commented on the company. Credit Suisse Group restated an outperform rating and set a $17.00 price objective on shares of Edge Therapeutics in a research note on Thursday, January 18th. Zacks Investment Research lowered Edge Therapeutics from a buy rating to a hold rating in a research note on Wednesday, January 3rd.

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Edge Therapeutics (NASDAQ:EDGE) traded up $0.77 during trading on Wednesday, reaching $17.20. The company’s stock had a trading volume of 206,922 shares, compared to its average volume of 157,599. Edge Therapeutics has a 12-month low of $7.30 and a 12-month high of $17.28. The company has a debt-to-equity ratio of 0.28, a quick ratio of 8.34 and a current ratio of 6.92. The company has a market cap of $530.95 and a price-to-earnings ratio of -8.15.

Edge Therapeutics (NASDAQ:EDGE) last posted its quarterly earnings data on Thursday, March 1st. The biotechnology company reported ($0.45) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.43) by ($0.02).

In other news, CEO Brian A. Leuthner sold 2,500 shares of Edge Therapeutics stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $14.81, for a total value of $37,025.00. Following the transaction, the chief executive officer now owns 72,736 shares in the company, valued at approximately $1,077,220.16. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Brian A. Leuthner sold 5,000 shares of Edge Therapeutics 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 transaction, the insider now owns 87,736 shares in the company, valued at approximately $887,010.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,500 shares of company stock worth $225,400. Corporate insiders own 36.19% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. California State Teachers Retirement System increased its stake in shares of Edge Therapeutics by 7.7% in the 2nd quarter. California State Teachers Retirement System now owns 35,167 shares of the biotechnology company’s stock valued at $361,000 after purchasing an additional 2,500 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of 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 purchasing an additional 3,764 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of 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 purchasing an additional 5,307 shares during the last quarter. TIAA CREF Investment Management LLC increased its stake in shares of Edge Therapeutics by 12.8% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 50,210 shares of the biotechnology company’s stock valued at $515,000 after purchasing an additional 5,705 shares during the last quarter. Finally, Teachers Advisors LLC increased its stake in shares of Edge Therapeutics by 21.1% in the 2nd quarter. Teachers Advisors LLC now owns 34,329 shares of the biotechnology company’s stock valued at $352,000 after purchasing an additional 5,976 shares during the last quarter. Institutional investors own 48.91% 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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