Edge Therapeutics (EDGE) Reaches New 52-Week Low at $0.48

Edge Therapeutics Inc (NASDAQ:EDGE) hit a new 52-week low on Thursday . The stock traded as low as $0.48 and last traded at $0.50, with a volume of 4611 shares. The stock had previously closed at $0.54.

Separately, ValuEngine raised Edge Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, November 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $17.00.

Edge Therapeutics (NASDAQ:EDGE) last released its earnings results on Thursday, November 1st. The biotechnology company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.16.

An institutional investor recently bought a new position in Edge Therapeutics stock. Raymond James Financial Services Advisors Inc. bought a new position in Edge Therapeutics Inc (NASDAQ:EDGE) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 158,463 shares of the biotechnology company’s stock, valued at approximately $163,000. Raymond James Financial Services Advisors Inc. owned about 0.51% of Edge Therapeutics at the end of the most recent quarter. Institutional investors own 31.22% of the company’s stock.

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Edge Therapeutics Company Profile (NASDAQ:EDGE)

Edge Therapeutics, Inc, a clinical-stage biotechnology company, discovers, develops, and seeks to commercialize hospital-based therapies for acute life-threatening neurological and other conditions. Its lead product includes EG-1962, a polymer-based microparticle used for the treatment of aneurysmal subarachnoid hemorrhage.

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