Shares of Edge Therapeutics Inc. (NASDAQ:EDGE) shot up 6.2% during mid-day trading on Tuesday . The company traded as high as $10.49 and last traded at $10.21, with a volume of 69,393 shares changing hands. The stock had previously closed at $9.61.

A number of brokerages have issued reports on EDGE. Zacks Investment Research lowered Edge Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, July 5th. Credit Suisse Group AG cut their price objective on Edge Therapeutics from $19.00 to $18.00 and set an “outperform” rating on the stock in a research report on Monday, May 9th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $19.85.

The firm has a 50 day moving average price of $9.42 and a 200-day moving average price of $9.06. The company’s market cap is $293.33 million.

Edge Therapeutics (NASDAQ:EDGE) last posted its quarterly earnings results on Tuesday, May 3rd. The company reported ($0.32) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.34) by $0.02. On average, equities research analysts forecast that Edge Therapeutics Inc. will post ($1.50) EPS for the current fiscal year.

Edge Therapeutics, Inc is a clinical-stage biotechnology company. The Company discovers, develops and seeks to commercialize hospital-based therapies capable of transforming treatment paradigms in the management of acute, life-threatening conditions. The Company’s product candidates include EG-1962 and EG-1964.

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