Edge Therapeutics, Inc. (NASDAQ:EDGE) has received a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy recommendation.

Brokers have set a 12 month consensus target price of $21.00 for the company and are forecasting that the company will post ($0.48) earnings per share for the current quarter, according to Zacks. Zacks has also given Edge Therapeutics an industry rank of 99 out of 265 based on the ratings given to related companies.

A number of brokerages have weighed in on EDGE. Zacks Investment Research downgraded shares of Edge Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, August 3rd. BidaskClub raised shares of Edge Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, August 3rd.

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In related news, insider Brian A. Leuthner sold 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $10.53, for a total transaction of $78,975.00. Following the completion of the sale, the insider now owns 125,236 shares of the company’s stock, valued at $1,318,735.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 36.19% of the stock is owned by company insiders.

Several large investors have recently made changes to their positions in EDGE. Wells Fargo & Company MN raised its position in shares of Edge Therapeutics by 1.7% in the first quarter. Wells Fargo & Company MN now owns 11,942 shares of the biotechnology company’s stock worth $109,000 after buying an additional 200 shares during the period. Russell Investments Group Ltd. raised its position in shares of Edge Therapeutics by 16.9% in the second quarter. Russell Investments Group Ltd. now owns 11,959 shares of the biotechnology company’s stock worth $123,000 after buying an additional 1,733 shares during the period. Trexquant Investment LP purchased a new position in shares of Edge Therapeutics during the first quarter worth $143,000. State of Wisconsin Investment Board purchased a new position in shares of Edge Therapeutics during the second quarter worth $154,000. Finally, Spark Investment Management LLC purchased a new position in shares of Edge Therapeutics during the first quarter worth $157,000. 48.55% of the stock is owned by institutional investors.

Shares of Edge Therapeutics (NASDAQ EDGE) traded up 6.28% during mid-day trading on Tuesday, reaching $11.51. The company’s stock had a trading volume of 98,213 shares. The company has a 50-day moving average of $10.33 and a 200-day moving average of $9.80. The company’s market cap is $354.84 million. Edge Therapeutics has a 12 month low of $7.30 and a 12 month high of $13.50.

Edge Therapeutics (NASDAQ:EDGE) last announced its earnings results on Tuesday, August 1st. The biotechnology company reported ($0.44) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.44). Equities research analysts forecast that Edge Therapeutics will post ($1.87) earnings per share for the current fiscal year.

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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