Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Receives $48.75 Average Price Target from Brokerages

Shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) have been assigned an average recommendation of “Moderate Buy” from the eleven analysts that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $49.0833.

EWTX has been the topic of several research analyst reports. Oppenheimer started coverage on Edgewise Therapeutics in a research note on Thursday, July 9th. They issued an “outperform” rating and a $51.00 price objective on the stock. Guggenheim raised their target price on Edgewise Therapeutics from $41.00 to $51.00 and gave the stock a “buy” rating in a research report on Monday, July 6th. Raymond James Financial restated a “strong-buy” rating and issued a $66.00 target price on shares of Edgewise Therapeutics in a research note on Monday, June 1st. Wedbush upped their price target on Edgewise Therapeutics from $46.00 to $52.00 and gave the company an “outperform” rating in a research report on Monday, June 1st. Finally, The Goldman Sachs Group increased their price target on Edgewise Therapeutics from $32.00 to $36.00 and gave the stock a “neutral” rating in a research note on Tuesday.

Insider Transactions at Edgewise Therapeutics

In other Edgewise Therapeutics news, insider Alan J. Russell sold 200,000 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $39.41, for a total transaction of $7,882,000.00. Following the sale, the insider directly owned 24,555 shares of the company’s stock, valued at $967,712.55. This represents a 89.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 21.30% of the company’s stock.

Institutional Trading of Edgewise Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the business. Parallel Advisors LLC grew its stake in Edgewise Therapeutics by 64.9% in the 1st quarter. Parallel Advisors LLC now owns 1,032 shares of the company’s stock valued at $33,000 after buying an additional 406 shares in the last quarter. KBC Group NV purchased a new stake in shares of Edgewise Therapeutics during the first quarter worth $49,000. Seven Fleet Capital Management LP bought a new position in shares of Edgewise Therapeutics in the fourth quarter worth $50,000. Jones Financial Companies Lllp purchased a new position in shares of Edgewise Therapeutics in the first quarter valued at $47,000. Finally, Steward Partners Investment Advisory LLC grew its position in shares of Edgewise Therapeutics by 23.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,854 shares of the company’s stock valued at $71,000 after purchasing an additional 550 shares in the last quarter.

Edgewise Therapeutics Stock Down 0.6%

EWTX opened at $44.31 on Friday. The stock has a market cap of $4.81 billion, a price-to-earnings ratio of -23.95 and a beta of 0.30. Edgewise Therapeutics has a twelve month low of $12.84 and a twelve month high of $48.40. The company’s 50-day moving average price is $39.68 and its two-hundred day moving average price is $34.35.

Edgewise Therapeutics (NASDAQ:EWTX) last released its earnings results on Thursday, August 6th. The company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.06). As a group, sell-side analysts anticipate that Edgewise Therapeutics will post -2.09 earnings per share for the current year.

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.