Edge Therapeutics, Inc. (EDGE) Expected to Announce Earnings of -$0.48 Per Share
Wall Street brokerages expect Edge Therapeutics, Inc. (NASDAQ:EDGE) to announce earnings of ($0.48) per share for the current quarter, according to Zacks. Zero analysts have made estimates for Edge Therapeutics’ earnings. Edge Therapeutics posted earnings of ($0.37) per share during the same quarter last year, which indicates a negative year over year growth rate of 29.7%. The business is scheduled to issue its next earnings report on Tuesday, November 7th.
According to Zacks, analysts expect that Edge Therapeutics will report full-year earnings of ($1.90) per share for the current financial year. For the next year, analysts expect that the business will post earnings of ($2.11) per share. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that that provide coverage for Edge Therapeutics.
Edge Therapeutics (NASDAQ:EDGE) last posted its quarterly earnings data on Tuesday, August 1st. The biotechnology company reported ($0.44) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.44).
A number of brokerages have recently commented on EDGE. BidaskClub lowered shares of Edge Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday, August 14th. Zacks Investment Research lowered shares of Edge Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, August 3rd.
TRADEMARK VIOLATION WARNING: This article was posted by American Banking News and is the sole property of of American Banking News. If you are accessing this article on another domain, it was copied illegally and reposted in violation of U.S. & international copyright and trademark legislation. The legal version of this article can be viewed at https://www.americanbankingnews.com/2017/10/19/edge-therapeutics-inc-edge-expected-to-announce-earnings-of-0-48-per-share.html.
Edge Therapeutics (NASDAQ:EDGE) traded up 0.59% during mid-day trading on Thursday, reaching $10.26. The company’s stock had a trading volume of 54,350 shares. The firm’s 50 day moving average is $10.25 and its 200-day moving average is $10.16. The stock’s market cap is $316.53 million. Edge Therapeutics has a one year low of $7.30 and a one year high of $13.50.
In other news, insider Albert N. Marchio II sold 2,500 shares of the stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $10.42, for a total transaction of $26,050.00. Following the transaction, the insider now directly owns 3,361 shares in the company, valued at $35,021.62. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Brian A. Leuthner sold 7,500 shares of the stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $10.21, for a total transaction of $76,575.00. Following the transaction, the insider now owns 117,736 shares in the company, valued at $1,202,084.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,000 shares of company stock worth $379,315. Insiders own 36.19% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Voya Investment Management LLC acquired a new stake in Edge Therapeutics in the second quarter valued at approximately $106,000. Wells Fargo & Company MN boosted its stake in Edge Therapeutics by 1.7% in the first quarter. Wells Fargo & Company MN now owns 11,942 shares of the biotechnology company’s stock valued at $109,000 after acquiring an additional 200 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Edge Therapeutics by 16.9% in the second quarter. Russell Investments Group Ltd. now owns 11,959 shares of the biotechnology company’s stock valued at $123,000 after acquiring an additional 1,733 shares in the last quarter. State of Wisconsin Investment Board acquired a new stake in Edge Therapeutics in the second quarter valued at approximately $154,000. Finally, The Manufacturers Life Insurance Company boosted its stake in Edge Therapeutics by 26.2% in the second quarter. The Manufacturers Life Insurance Company now owns 18,114 shares of the biotechnology company’s stock valued at $186,000 after acquiring an additional 3,764 shares in the last quarter. Hedge funds and other institutional investors own 49.38% of the company’s stock.
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.
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.