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.
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.
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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