Edge Therapeutics Inc (NASDAQ:EDGE)’s share price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $13.00 and last traded at $13.00, with a volume of 63753 shares traded. The stock had previously closed at $12.45.

A number of equities analysts recently issued reports on EDGE shares. Zacks Investment Research upgraded Edge Therapeutics from a “sell” rating to a “buy” rating and set a $12.00 target price for the company in a research note on Monday, November 6th. BidaskClub upgraded Edge Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, January 20th. Finally, Credit Suisse Group restated an “outperform” rating and issued a $17.00 target price on shares of Edge Therapeutics in a research note on Thursday, January 18th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Edge Therapeutics has a consensus rating of “Hold” and a consensus price target of $20.00.

The company has a market capitalization of $377.10, a P/E ratio of -8.11 and a beta of 2.52. The company has a quick ratio of 8.34, a current ratio of 8.34 and a debt-to-equity ratio of 0.20.

Edge Therapeutics (NASDAQ:EDGE) last issued its earnings results on Wednesday, November 1st. The biotechnology company reported ($0.37) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.48) by $0.11. research analysts predict that Edge Therapeutics Inc will post -1.7 earnings per share for the current year.

In other Edge Therapeutics news, insider Brian A. Leuthner sold 5,000 shares of Edge Therapeutics stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $10.11, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian A. Leuthner sold 7,500 shares of Edge Therapeutics stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $9.86, for a total value of $73,950.00. Following the transaction, the insider now owns 95,236 shares of the company’s stock, valued at approximately $939,026.96. The disclosure for this sale can be found here. Insiders sold a total of 28,361 shares of company stock valued at $292,035 in the last 90 days. 36.19% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Schwab Charles Investment Management Inc. raised its stake in shares of Edge Therapeutics by 0.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 75,279 shares of the biotechnology company’s stock valued at $773,000 after buying an additional 532 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of Edge Therapeutics by 16.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 11,959 shares of the biotechnology company’s stock valued at $123,000 after buying an additional 1,733 shares during the last quarter. California State Teachers Retirement System raised its stake in shares of 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 buying an additional 2,500 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Edge Therapeutics by 19.1% during the 2nd quarter. Rhumbline Advisers now owns 19,960 shares of the biotechnology company’s stock valued at $205,000 after buying an additional 3,195 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of 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 valued at $186,000 after buying an additional 3,764 shares during the last quarter. Institutional investors and hedge funds own 50.27% 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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