Zacks: Edge Therapeutics Inc. (EDGE) Given $24.00 Consensus Target Price by Brokerages
Edge Therapeutics Inc. (NASDAQ:EDGE) has earned a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy rating.
Analysts have set a one year consensus price target of $24.00 for the company and are predicting that the company will post ($0.38) EPS for the current quarter, according to Zacks. Zacks has also assigned Edge Therapeutics an industry rank of 105 out of 265 based on the ratings given to related companies.
Separately, Zacks Investment Research cut shares of Edge Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, July 5th.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/18/zacks-edge-therapeutics-inc-edge-given-24-00-consensus-target-price-by-brokerages.html
In other 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 completion of the sale, 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 filing with the SEC, which is available at the SEC website. Also, VP W Bradford Middlekauff bought 10,000 shares of the company’s stock in a transaction dated Monday, August 8th. The stock was bought at an average cost of $9.48 per share, with a total value of $94,800.00. Following the completion of the transaction, the vice president now owns 9,857 shares in the company, valued at approximately $93,444.36. The disclosure for this purchase can be found here. Company insiders own 44.29% of the company’s stock.
Several large investors have recently bought and sold shares of EDGE. Janus Capital Management LLC boosted its stake in Edge Therapeutics by 226.4% in the second quarter. Janus Capital Management LLC now owns 2,334,535 shares of the company’s stock valued at $23,601,000 after buying an additional 1,619,305 shares in the last quarter. Vanguard Group Inc. boosted its stake in Edge Therapeutics by 114.6% in the second quarter. Vanguard Group Inc. now owns 464,753 shares of the company’s stock valued at $4,699,000 after buying an additional 248,139 shares in the last quarter. BlackRock Fund Advisors boosted its stake in Edge Therapeutics by 93.6% in the second quarter. BlackRock Fund Advisors now owns 416,562 shares of the company’s stock valued at $4,211,000 after buying an additional 201,445 shares in the last quarter. Opaleye Management Inc. bought a new stake in Edge Therapeutics during the first quarter valued at approximately $1,693,000. Finally, Franklin Resources Inc. boosted its stake in Edge Therapeutics by 4.3% in the first quarter. Franklin Resources Inc. now owns 2,393,296 shares of the company’s stock valued at $21,898,000 after buying an additional 98,730 shares in the last quarter. 47.94% of the stock is owned by hedge funds and other institutional investors.
Shares of Edge Therapeutics (NASDAQ:EDGE) traded down 0.19% during midday trading on Tuesday, reaching $10.59. The company’s stock had a trading volume of 15,601 shares. Edge Therapeutics has a 12 month low of $6.23 and a 12 month high of $25.63. The stock’s 50-day moving average is $10.50 and its 200 day moving average is $9.48. The stock’s market capitalization is $306.03 million.
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, beating the Thomson Reuters’ consensus estimate of ($0.38) by $0.05. On average, analysts expect that Edge Therapeutics will post ($1.47) earnings per share for the current fiscal year.
About Edge Therapeutics
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Edge Therapeutics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Edge Therapeutics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.