-$0.48 Earnings Per Share Expected for Edge Therapeutics, Inc. (EDGE) This Quarter
Brokerages forecast that Edge Therapeutics, Inc. (NASDAQ:EDGE) will announce earnings per share (EPS) of ($0.48) for the current quarter, Zacks Investment Research reports. Zero analysts have issued estimates for Edge Therapeutics’ earnings. Edge Therapeutics posted earnings of ($0.37) per share in the same quarter last year, which suggests a negative year-over-year growth rate of 29.7%. The business is scheduled to announce its next quarterly earnings report on Tuesday, November 7th.
According to Zacks, analysts expect that Edge Therapeutics will report full year earnings of ($1.89) per share for the current year. For the next fiscal year, analysts anticipate that the firm will report earnings of ($2.11) per share. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Edge Therapeutics.
Edge Therapeutics (NASDAQ:EDGE) last issued its quarterly earnings data on Tuesday, August 1st. The biotechnology company reported ($0.44) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.44).
Several research analysts have issued reports on the stock. Zacks Investment Research cut shares of Edge Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday. BidaskClub upgraded shares of Edge Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday.
In other news, insider Brian A. Leuthner sold 7,500 shares of Edge Therapeutics stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $10.53, for a total value of $78,975.00. Following the completion of the sale, the insider now directly owns 125,236 shares in the company, valued at $1,318,735.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 36.19% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Regentatlantic Capital LLC acquired a new stake in shares of Edge Therapeutics during the first quarter valued at about $1,230,000. Eagle Asset Management Inc. raised its stake in shares of Edge Therapeutics by 4.4% in the first quarter. Eagle Asset Management Inc. now owns 899,968 shares of the biotechnology company’s stock valued at $8,198,000 after buying an additional 37,536 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Edge Therapeutics during the first quarter valued at about $297,000. TFS Capital LLC acquired a new stake in shares of Edge Therapeutics during the first quarter valued at about $209,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Edge Therapeutics during the second quarter valued at about $236,000. Institutional investors own 48.72% of the company’s stock.
Shares of Edge Therapeutics (EDGE) traded up 0.77% during midday trading on Friday, reaching $10.44. 20,971 shares of the company’s stock were exchanged. The firm has a 50-day moving average of $10.30 and a 200-day moving average of $9.79. The stock’s market capitalization is $321.85 million. Edge Therapeutics has a 12-month low of $7.30 and a 12-month high of $13.50.
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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