Edge Therapeutics, Inc. (EDGE) Lifted to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of Edge Therapeutics, Inc. (NASDAQ:EDGE) from a sell rating to a hold rating in a research note published on Tuesday.
According to Zacks, “Edge Therapeutics, Inc. is a biotechnology company which discovers, develops and commercializes hospital-based therapies for acute life-threatening neurological conditions. Its lead product candidate which are in preclinical trial EG-1962, a polymer-based microparticle used for the treatment of aneurysmal subarachnoid hemorrhage, EG-1964, to prevent recurrent bleeding after treatment for cSDH and EG-1963, to prevent rebleeding following surgeries outside the brain. Edge Therapeutics, Inc. is headquartered in Berkeley Heights, New Jersey. “
Separately, BidaskClub raised shares of Edge Therapeutics from a hold rating to a buy rating in a research report on Thursday, August 3rd.
Edge Therapeutics (NASDAQ EDGE) opened at 10.55 on Tuesday. The stock has a 50 day moving average price of $10.60 and a 200 day moving average price of $9.88. Edge Therapeutics has a one year low of $7.30 and a one year high of $13.50. The company’s market cap is $325.48 million.
Edge Therapeutics (NASDAQ:EDGE) last posted its earnings results on Tuesday, August 1st. The biotechnology company reported ($0.44) EPS for the quarter, hitting the consensus estimate of ($0.44). On average, equities analysts anticipate that Edge Therapeutics will post ($1.87) EPS for the current fiscal year.
In other Edge Therapeutics news, insider Brian A. Leuthner sold 7,500 shares of the company’s stock in a transaction dated Thursday, July 6th. The shares were sold at an average price of $10.19, for a total value of $76,425.00. Following the completion of the sale, the insider now directly owns 132,736 shares of the company’s stock, valued at approximately $1,352,579.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Albert N. Marchio II sold 2,500 shares of the company’s stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $10.42, for a total transaction of $26,050.00. Following the completion of the sale, the insider now directly owns 3,361 shares of the company’s stock, valued at $35,021.62. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,500 shares of company stock valued at $191,840. 36.19% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of EDGE. California State Teachers Retirement System increased its stake in shares of Edge Therapeutics by 7.7% in the second quarter. California State Teachers Retirement System now owns 35,167 shares of the biotechnology company’s stock worth $361,000 after buying 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 second quarter. The Manufacturers Life Insurance Company now owns 18,114 shares of the biotechnology company’s stock worth $186,000 after buying an additional 3,764 shares during the last quarter. State Street Corp increased its stake in shares of Edge Therapeutics by 16.3% in the second quarter. State Street Corp now owns 277,352 shares of the biotechnology company’s stock worth $2,847,000 after buying an additional 38,909 shares during the last quarter. DAFNA Capital Management LLC purchased a new stake in shares of Edge Therapeutics during the second quarter worth about $199,000. Finally, Janus Henderson Group PLC purchased a new stake in shares of Edge Therapeutics during the second quarter worth about $21,962,000. 49.38% of the stock is owned by institutional investors and hedge funds.
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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