Equities Analysts Offer Predictions for EWTX FY2029 Earnings

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) – Equities researchers at Wedbush dropped their FY2029 earnings per share estimates for Edgewise Therapeutics in a research report issued to clients and investors on Thursday, November 6th. Wedbush analyst L. Chico now forecasts that the company will earn $1.47 per share for the year, down from their prior estimate of $1.59. Wedbush has a “Outperform” rating and a $32.00 price target on the stock. The consensus estimate for Edgewise Therapeutics’ current full-year earnings is ($1.45) per share.

A number of other equities research analysts also recently issued reports on the stock. Royal Bank Of Canada upped their price target on shares of Edgewise Therapeutics from $49.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. Raymond James Financial initiated coverage on shares of Edgewise Therapeutics in a research report on Wednesday, July 30th. They set a “strong-buy” rating and a $46.00 target price on the stock. The Goldman Sachs Group assumed coverage on Edgewise Therapeutics in a research report on Thursday, September 25th. They issued a “neutral” rating and a $20.00 price target for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Edgewise Therapeutics in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. lowered their price objective on Edgewise Therapeutics from $40.00 to $30.00 and set an “overweight” rating for the company in a research note on Tuesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.00.

Edgewise Therapeutics Stock Performance

NASDAQ EWTX opened at $21.48 on Monday. The stock has a 50 day moving average price of $15.72 and a 200-day moving average price of $14.80. Edgewise Therapeutics has a one year low of $10.60 and a one year high of $35.99. The company has a market capitalization of $2.27 billion, a P/E ratio of -13.59 and a beta of 0.30.

Edgewise Therapeutics (NASDAQ:EWTX) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.39) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.01.

Institutional Trading of Edgewise Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Arizona State Retirement System grew its holdings in Edgewise Therapeutics by 12.3% during the 1st quarter. Arizona State Retirement System now owns 12,201 shares of the company’s stock worth $268,000 after acquiring an additional 1,338 shares in the last quarter. Jennison Associates LLC bought a new position in shares of Edgewise Therapeutics during the first quarter valued at approximately $2,832,000. Readystate Asset Management LP increased its holdings in Edgewise Therapeutics by 1,591.0% during the first quarter. Readystate Asset Management LP now owns 361,233 shares of the company’s stock valued at $7,947,000 after buying an additional 339,871 shares during the period. Skandinaviska Enskilda Banken AB publ bought a new position in Edgewise Therapeutics in the first quarter worth approximately $827,000. Finally, TD Asset Management Inc bought a new position in Edgewise Therapeutics in the first quarter worth approximately $730,000.

Insider Activity

In other news, insider Alan J. Russell sold 100,000 shares of the stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $14.60, for a total transaction of $1,460,000.00. Following the transaction, the insider owned 23,400 shares of the company’s stock, valued at approximately $341,640. This represents a 81.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 23.20% of the company’s stock.

Edgewise Therapeutics Company Profile

Edgewise Therapeutics, Inc, a biopharmaceutical company, discovers, develops, and commercializes therapies for the treatment of muscle disorders. Its lead product candidate, EDG-5506, an orally administered small molecule that is in Phase II clinical trials, designed to address the root cause of dystrophinopathies including Duchenne muscular dystrophy and Becker muscular dystrophy.