Edge Therapeutics (EDGE) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of Edge Therapeutics (NASDAQ:EDGE) from a buy rating to a hold rating in a research note published on Wednesday.

According to Zacks, “Edge Therapeutics, Inc. is a biotechnology company which discovers, develops and commercializes hospital-based therapies for acute life-threatening neurological conditions. Its lead product candidate which are in preclinical trial EG-1962, a polymer-based microparticle used for the treatment of aneurysmal subarachnoid hemorrhage, EG-1964, to prevent recurrent bleeding after treatment for cSDH and EG-1963, to prevent rebleeding following surgeries outside the brain. Edge Therapeutics, Inc. is headquartered in Berkeley Heights, New Jersey. “

Separately, BidaskClub downgraded Edge Therapeutics from a sell rating to a strong sell rating in a research note on Tuesday, December 12th.

Shares of Edge Therapeutics (NASDAQ:EDGE) traded up $0.41 during trading on Wednesday, reaching $10.46. The company had a trading volume of 223,800 shares, compared to its average volume of 294,633. The firm has a market cap of $326.80 and a P/E ratio of -6.71. Edge Therapeutics has a twelve month low of $7.30 and a twelve month high of $13.13. The company has a debt-to-equity ratio of 0.20, a current ratio of 8.34 and a quick ratio of 8.34.

Edge Therapeutics (NASDAQ:EDGE) last issued its quarterly earnings data on Wednesday, November 1st. The biotechnology company reported ($0.37) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.48) by $0.11. equities research analysts predict that Edge Therapeutics will post -1.7 EPS for the current fiscal year.

In other Edge Therapeutics news, CEO Brian A. Leuthner sold 2,500 shares of Edge Therapeutics stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $10.92, for a total value of $27,300.00. Following the sale, the chief executive officer now owns 102,736 shares of the company’s stock, valued at approximately $1,121,877.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian A. Leuthner sold 7,500 shares of Edge Therapeutics stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $9.86, for a total value of $73,950.00. Following the completion of the sale, the insider now directly owns 95,236 shares in the company, valued at approximately $939,026.96. The disclosure for this sale can be found here. Insiders have sold a total of 28,361 shares of company stock worth $292,035 in the last ninety days. 36.19% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Schwab Charles Investment Management Inc. raised its stake in shares of Edge Therapeutics by 0.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 75,279 shares of the biotechnology company’s stock valued at $773,000 after purchasing an additional 532 shares during the period. Russell Investments Group Ltd. raised its stake in shares of Edge Therapeutics by 16.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 11,959 shares of the biotechnology company’s stock valued at $123,000 after purchasing an additional 1,733 shares during the period. California State Teachers Retirement System raised its stake in shares of Edge Therapeutics by 7.7% in the 2nd quarter. California State Teachers Retirement System now owns 35,167 shares of the biotechnology company’s stock valued at $361,000 after purchasing an additional 2,500 shares during the period. Rhumbline Advisers raised its stake in shares of Edge Therapeutics by 19.1% in the 2nd quarter. Rhumbline Advisers now owns 19,960 shares of the biotechnology company’s stock valued at $205,000 after purchasing an additional 3,195 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Edge Therapeutics by 26.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,114 shares of the biotechnology company’s stock valued at $186,000 after purchasing an additional 3,764 shares during the period. 50.26% of the stock is currently owned by hedge funds and other institutional investors.

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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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