Zacks Investment Research upgraded shares of Edge Therapeutics, Inc. (NASDAQ:EDGE) from a sell rating to a buy rating in a report issued on Monday. The brokerage currently has $12.00 price target on the biotechnology company’s stock.

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 cut shares of Edge Therapeutics from a buy rating to a hold rating in a report on Monday, August 14th.

Shares of Edge Therapeutics (NASDAQ EDGE) traded down $0.53 during mid-day trading on Monday, reaching $10.09. The company had a trading volume of 31,945 shares, compared to its average volume of 52,498. The company has a debt-to-equity ratio of 0.20, a quick ratio of 8.34 and a current ratio of 8.34. Edge Therapeutics has a 12 month low of $7.30 and a 12 month high of $13.50.

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

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In other news, CEO Brian A. Leuthner sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $10.37, for a total value of $25,925.00. Following the completion of the transaction, the chief executive officer now owns 117,736 shares in the company, valued at $1,220,922.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brian A. Leuthner sold 7,500 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $10.91, for a total transaction of $81,825.00. Following the completion of the transaction, the insider now 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. In the last 90 days, insiders have sold 38,500 shares of company stock valued at $409,465. Corporate insiders own 36.19% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. boosted its holdings in shares of Edge Therapeutics by 1.1% in the second quarter. Franklin Resources Inc. now owns 2,663,123 shares of the biotechnology company’s stock valued at $27,324,000 after buying an additional 30,100 shares during the period. Janus Henderson Group PLC acquired a new position in shares of Edge Therapeutics in the second quarter valued at approximately $21,962,000. Vanguard Group Inc. boosted its holdings in shares of Edge Therapeutics by 2.9% in the first quarter. Vanguard Group Inc. now owns 700,003 shares of the biotechnology company’s stock valued at $6,377,000 after buying an additional 19,973 shares during the period. State Street Corp boosted its holdings 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 valued at $2,847,000 after buying an additional 38,909 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Edge Therapeutics by 5.0% in the first quarter. Geode Capital Management LLC now owns 172,646 shares of the biotechnology company’s stock valued at $1,572,000 after buying an additional 8,181 shares during the period. Institutional investors own 49.29% of the company’s stock.

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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