Edge Therapeutics (EDGE) Cut to Underperform at Credit Suisse Group

Credit Suisse Group cut shares of Edge Therapeutics (NASDAQ:EDGE) from an outperform rating to an underperform rating in a research note released on Thursday morning, MarketBeat reports. Credit Suisse Group currently has $17.00 price objective on the biotechnology company’s stock.

Several other analysts also recently commented on the stock. JMP Securities downgraded shares of Edge Therapeutics from an outperform rating to a market perform rating in a research report on Wednesday, March 28th. BidaskClub upgraded shares of Edge Therapeutics from a buy rating to a strong-buy rating in a research report on Wednesday, March 7th. Finally, Zacks Investment Research downgraded shares of Edge Therapeutics from a buy rating to a hold rating in a research report on Wednesday, January 3rd.

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Shares of EDGE stock opened at $1.18 on Thursday. The firm has a market cap of $36.43, a PE ratio of -0.71 and a beta of 2.31. Edge Therapeutics has a one year low of $1.12 and a one year high of $17.77. The company has a debt-to-equity ratio of 0.28, a quick ratio of 6.92 and a current ratio of 6.92.

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

In other news, insider Brian A. Leuthner sold 5,000 shares of the firm’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $10.11, for a total transaction of $50,550.00. Following the sale, the insider now directly owns 87,736 shares in the company, valued at approximately $887,010.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian A. Leuthner sold 2,500 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $13.14, for a total transaction of $32,850.00. Following the sale, the chief executive officer now owns 82,736 shares in the company, valued at $1,087,151.04. The disclosure for this sale can be found here. Insiders have sold a total of 22,500 shares of company stock worth $308,350 over the last 90 days. Insiders own 36.19% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new position in Edge Therapeutics during the fourth quarter valued at $103,000. Trexquant Investment LP purchased a new position in Edge Therapeutics during the third quarter valued at $130,000. The Manufacturers Life Insurance Company grew its stake in Edge Therapeutics by 26.2% during the second 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 in the last quarter. Wells Fargo & Company MN grew its stake in Edge Therapeutics by 44.4% during the third 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 in the last quarter. Finally, Granite Investment Partners LLC purchased a new position in Edge Therapeutics during the fourth quarter valued at $296,000. 48.89% of the stock is owned by institutional investors.

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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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