Edge Therapeutics (EDGE) Earns Outperform Rating from Credit Suisse Group
Edge Therapeutics (NASDAQ:EDGE)‘s stock had its “outperform” rating restated by analysts at Credit Suisse Group in a report issued on Thursday, MarketBeat.com reports. They currently have a $17.00 price target on the biotechnology company’s stock. Credit Suisse Group’s price target indicates a potential upside of 37.10% from the stock’s previous close.
A number of other equities analysts have also commented on EDGE. Zacks Investment Research raised Edge Therapeutics from a “sell” rating to a “buy” rating and set a $12.00 price target for the company in a report on Monday, November 6th. BidaskClub lowered Edge Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 12th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $20.00.
Edge Therapeutics (NASDAQ:EDGE) traded up $0.85 during trading on Thursday, hitting $12.40. The stock had a trading volume of 140,432 shares, compared to its average volume of 131,020. Edge Therapeutics has a 52-week low of $7.30 and a 52-week high of $12.70. The company has a quick ratio of 8.34, a current ratio of 8.34 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $356.42, a price-to-earnings ratio of -7.95 and a beta of 2.52.
In related news, CEO Brian A. Leuthner sold 2,500 shares of Edge Therapeutics stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $10.92, for a total transaction of $27,300.00. Following the completion of the sale, the chief executive officer now owns 102,736 shares of the company’s stock, valued at $1,121,877.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Brian A. Leuthner sold 7,500 shares of Edge Therapeutics stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $10.91, for a total value of $81,825.00. Following the sale, the insider now directly owns 102,736 shares of the company’s stock, valued at approximately $1,120,849.76. The disclosure for this sale can be found here. Insiders have sold 28,361 shares of company stock valued at $292,035 in the last three months. 36.19% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of the stock. Janus Henderson Group PLC bought a new stake in Edge Therapeutics during the second quarter valued at $21,962,000. JPMorgan Chase & Co. boosted its stake in Edge Therapeutics by 223.4% during the third quarter. JPMorgan Chase & Co. now owns 379,075 shares of the biotechnology company’s stock valued at $4,063,000 after buying an additional 261,850 shares during the period. Sphera Funds Management LTD. boosted its stake in Edge Therapeutics by 122.5% during the third quarter. Sphera Funds Management LTD. now owns 333,737 shares of the biotechnology company’s stock valued at $3,581,000 after buying an additional 183,737 shares during the period. State Street Corp boosted its stake in Edge Therapeutics by 16.3% during the second quarter. State Street Corp now owns 277,352 shares of the biotechnology company’s stock valued at $2,847,000 after buying an additional 38,909 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its stake in Edge Therapeutics by 11.8% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 89,594 shares of the biotechnology company’s stock valued at $840,000 after buying an additional 9,424 shares during the period. 50.26% of the stock is owned by institutional investors.
TRADEMARK VIOLATION NOTICE: “Edge Therapeutics (EDGE) Earns Outperform Rating from Credit Suisse Group” was posted by Watch List News and is the property of of Watch List News. If you are reading this report on another site, it was stolen and republished in violation of international trademark and copyright legislation. The legal version of this report can be read at https://www.watchlistnews.com/edge-therapeutics-edge-earns-outperform-rating-from-credit-suisse-group/1816136.html.
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.
Receive News & Ratings for Edge Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Edge Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.