Zacks: Edge Therapeutics Inc (EDGE) Receives Consensus Rating of “Strong Buy” from Analysts

Shares of Edge Therapeutics Inc (NASDAQ:EDGE) have been given a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that cover the stock, Zacks Investment Research reports.

Zacks has also given Edge Therapeutics an industry rank of 185 out of 265 based on the ratings given to its competitors.

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EDGE has been the topic of several research reports. BidaskClub upgraded Edge Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, March 7th. Credit Suisse Group downgraded Edge Therapeutics from an “outperform” rating to an “underperform” rating and set a $17.00 target price on the stock. in a research report on Thursday. JMP Securities downgraded Edge Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Wednesday, March 28th. Finally, Zacks Investment Research downgraded Edge Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd.

In related news, CEO Brian A. Leuthner sold 2,500 shares of Edge Therapeutics stock in a transaction that occurred 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 transaction, the chief executive officer now owns 82,736 shares in the company, valued at $1,087,151.04. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider R. Loch Macdonald sold 5,000 shares of Edge Therapeutics stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $13.75, for a total value of $68,750.00. Following the transaction, the insider now owns 590,602 shares in the company, valued at approximately $8,120,777.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,500 shares of company stock worth $308,350. 36.19% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the stock. California State Teachers Retirement System raised its stake in Edge Therapeutics by 7.7% during the 2nd quarter. California State Teachers Retirement System now owns 35,167 shares of the biotechnology company’s stock valued at $361,000 after acquiring an additional 2,500 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Edge Therapeutics by 26.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,114 shares of the biotechnology company’s stock worth $186,000 after purchasing an additional 3,764 shares during the period. Wells Fargo & Company MN increased its position in Edge Therapeutics by 44.4% during the 3rd quarter. Wells Fargo & Company MN now owns 17,249 shares of the biotechnology company’s stock worth $186,000 after purchasing an additional 5,307 shares during the period. Schwab Charles Investment Management Inc. increased its position in Edge Therapeutics by 11.8% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 89,594 shares of the biotechnology company’s stock worth $840,000 after purchasing an additional 9,424 shares during the period. Finally, SG Americas Securities LLC acquired a new position in Edge Therapeutics during the 4th quarter worth approximately $103,000. Hedge funds and other institutional investors own 48.89% of the company’s stock.

EDGE traded down $0.09 during trading on Wednesday, hitting $1.09. The company’s stock had a trading volume of 3,303,423 shares, compared to its average volume of 874,157. The company has a current ratio of 6.92, a quick ratio of 6.92 and a debt-to-equity ratio of 0.28. Edge Therapeutics has a twelve month low of $1.07 and a twelve month high of $17.77. The firm has a market cap of $36.43, a P/E ratio of -0.66 and a beta of 4.03.

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

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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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