Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Receives $39.67 Average Target Price from Analysts

Shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) have been assigned an average rating of “Moderate Buy” from the nine brokerages that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, five have given a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $44.1111.

EWTX has been the topic of several recent analyst reports. Evercore reiterated an “outperform” rating and set a $45.00 target price on shares of Edgewise Therapeutics in a report on Thursday, February 26th. Stifel Nicolaus set a $25.00 price target on Edgewise Therapeutics in a research note on Thursday, February 26th. Truist Financial set a $52.00 price target on Edgewise Therapeutics in a research note on Wednesday, May 6th. Wall Street Zen downgraded Edgewise Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Finally, Wedbush reissued an “outperform” rating and issued a $52.00 price target on shares of Edgewise Therapeutics in a research note on Monday.

Edgewise Therapeutics Stock Performance

Shares of EWTX opened at $40.26 on Tuesday. The firm has a market capitalization of $4.33 billion, a price-to-earnings ratio of -24.25 and a beta of 0.27. The business’s fifty day moving average price is $32.94 and its two-hundred day moving average price is $28.83. Edgewise Therapeutics has a 52 week low of $12.15 and a 52 week high of $40.77.

Edgewise Therapeutics (NASDAQ:EWTX) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.46) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.50) by $0.04. As a group, research analysts forecast that Edgewise Therapeutics will post -2.13 EPS for the current year.

Insider Activity

In related news, CMO Joanne M. Donovan sold 50,000 shares of Edgewise Therapeutics stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $38.57, for a total value of $1,928,500.00. Following the sale, the chief marketing officer owned 4,367 shares of the company’s stock, valued at approximately $168,435.19. The trade was a 91.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 83,892 shares of company stock valued at $3,018,216 over the last 90 days. 21.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Edgewise Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Edgewise Therapeutics by 6.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,776 shares of the company’s stock worth $963,000 after buying an additional 2,463 shares in the last quarter. Jones Financial Companies Lllp acquired a new stake in Edgewise Therapeutics during the 1st quarter worth about $47,000. Goldman Sachs Group Inc. grew its holdings in Edgewise Therapeutics by 5.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 366,644 shares of the company’s stock worth $8,066,000 after acquiring an additional 19,753 shares during the period. Strs Ohio acquired a new stake in Edgewise Therapeutics during the 1st quarter worth about $84,000. Finally, Creative Planning grew its holdings in Edgewise Therapeutics by 29.4% during the 2nd quarter. Creative Planning now owns 16,910 shares of the company’s stock worth $222,000 after acquiring an additional 3,837 shares during the period.

Edgewise Therapeutics Company Profile

Edgewise Therapeutics, Inc (NASDAQ: EWTX) is a clinical-stage biopharmaceutical company headquartered in Cambridge, Massachusetts, focused on the discovery and development of precision medicines for the treatment of rare diseases. The company leverages its expertise in small-molecule chemistry and ion channel biology to address severe, unmet medical needs, particularly in the areas of kidney disorders and neuromuscular diseases.

At the core of Edgewise’s pipeline is EWTX-101, a novel, orally available inhibitor of TRPC5, a calcium channel implicated in nephrotic syndromes such as focal segmental glomerulosclerosis (FSGS) and other proteinuric kidney diseases.