BidaskClub Upgrades Edge Therapeutics (EDGE) to “Buy”

BidaskClub upgraded shares of Edge Therapeutics (NASDAQ:EDGE) from a hold rating to a buy rating in a research note released on Monday.

Other research analysts also recently issued research reports about the company. Credit Suisse Group restated an outperform rating and set a $17.00 price target on shares of Edge Therapeutics in a report on Thursday, January 18th. Zacks Investment Research downgraded Edge Therapeutics from a buy rating to a hold rating in a report on Wednesday, January 3rd. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Edge Therapeutics has an average rating of Buy and an average target price of $20.00.

Edge Therapeutics (NASDAQ:EDGE) opened at $12.90 on Monday. Edge Therapeutics has a twelve month low of $7.30 and a twelve month high of $13.76. The company has a quick ratio of 8.34, a current ratio of 8.34 and a debt-to-equity ratio of 0.20.

In related news, insider Albert N. Marchio II sold 3,361 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $10.00, for a total transaction of $33,610.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Brian A. Leuthner sold 2,500 shares of Edge Therapeutics stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $13.14, for a total value of $32,850.00. Following the sale, the chief executive officer now directly owns 82,736 shares in the company, valued at $1,087,151.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,861 shares of company stock worth $215,760. 36.19% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. boosted its position in Edge Therapeutics by 223.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 379,075 shares of the biotechnology company’s stock valued at $4,063,000 after acquiring an additional 261,850 shares in the last quarter. Sphera Funds Management LTD. boosted its position in Edge Therapeutics by 122.5% during the 3rd quarter. Sphera Funds Management LTD. now owns 333,737 shares of the biotechnology company’s stock valued at $3,581,000 after acquiring an additional 183,737 shares in the last quarter. Goldman Sachs Group Inc. bought a new stake in Edge Therapeutics during the 2nd quarter valued at approximately $374,000. Janus Henderson Group PLC bought a new stake in Edge Therapeutics during the 2nd quarter valued at approximately $21,962,000. Finally, Teachers Advisors LLC boosted its position in Edge Therapeutics by 21.1% during the 2nd quarter. Teachers Advisors LLC now owns 34,329 shares of the biotechnology company’s stock valued at $352,000 after acquiring an additional 5,976 shares in the last quarter. 50.27% of the stock is currently owned by institutional investors and hedge funds.

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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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