Edge Therapeutics Inc (EDGE) Shares Up 2.7%
Shares of Edge Therapeutics Inc (NASDAQ:EDGE) shot up 2.7% on Wednesday . The stock traded as high as $9.20 and last traded at $9.19, with a volume of 71,686 shares changing hands. The stock had previously closed at $8.95.
Several brokerages recently weighed in on EDGE. Zacks Investment Research upgraded Edge Therapeutics from a “sell” rating to a “hold” rating and set a $9.25 target price for the company in a research note on Tuesday, May 10th. Credit Suisse Group AG reduced their price objective on Edge Therapeutics from $19.00 to $18.00 and set an “outperform” rating for the company in a research report on Monday, May 9th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $19.85.
The stock’s market capitalization is $260.66 million. The company has a 50 day moving average price of $9.63 and a 200 day moving average price of $8.73.
Edge Therapeutics (NASDAQ:EDGE) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.33) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.05. Analysts expect that Edge Therapeutics Inc will post ($1.47) earnings per share for the current fiscal year.
In other Edge Therapeutics news, insider Brian A. Leuthner sold 7,500 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $9.54, for a total transaction of $71,550.00. Following the transaction, the insider now owns 267,979 shares of the company’s stock, valued at $2,556,519.66. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP W Bradford Middlekauff purchased 10,000 shares of the stock in a transaction on Monday, August 8th. The shares were acquired at an average cost of $9.48 per share, for a total transaction of $94,800.00. Following the transaction, the vice president now owns 9,857 shares of the company’s stock, valued at $93,444.36. The disclosure for this purchase can be found here.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.