Edge Therapeutics Inc. (EDGE) Trading 2.7% Higher
Edge Therapeutics Inc. (NASDAQ:EDGE) traded up 2.7% on Wednesday . The company traded as high as $9.20 and last traded at $9.19, with a volume of 71,686 shares. The stock had previously closed at $8.95.
A number of equities research analysts recently weighed in on the stock. Credit Suisse Group AG dropped their price target on shares of Edge Therapeutics from $19.00 to $18.00 and set an “outperform” rating for the company in a research note on Monday, May 9th. Zacks Investment Research raised shares of Edge Therapeutics from a “sell” rating to a “hold” rating and set a $9.25 price target for the company in a research note on Tuesday, May 10th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Edge Therapeutics currently has a consensus rating of “Buy” and an average target price of $19.85.
The stock’s market capitalization is $257.48 million. The company’s 50 day moving average is $9.58 and its 200 day moving average is $8.73.
Edge Therapeutics (NASDAQ:EDGE) last released its earnings results on Wednesday, August 3rd. The company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.38) by $0.05. On average, analysts forecast that Edge Therapeutics Inc. will post ($1.47) EPS for the current fiscal year.
In other Edge Therapeutics news, insider Brian A. Leuthner sold 7,500 shares of the firm’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $9.54, for a total value of $71,550.00. Following the transaction, the insider now directly owns 267,979 shares of the company’s stock, valued at approximately $2,556,519.66. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP W Bradford Middlekauff bought 10,000 shares of the firm’s stock in a transaction on Monday, August 8th. The stock was purchased at an average cost of $9.48 per share, for a total transaction of $94,800.00. Following the completion of the acquisition, the vice president now owns 9,857 shares in the company, 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.
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