FY2030 EPS Estimate for Edgewise Therapeutics Cut by Analyst

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) – Equities researchers at HC Wainwright dropped their FY2030 EPS estimates for Edgewise Therapeutics in a note issued to investors on Thursday, August 6th. HC Wainwright analyst L. Egana-Gorrono now forecasts that the company will post earnings per share of $2.03 for the year, down from their previous estimate of $2.09. HC Wainwright has a “Buy” rating and a $45.00 price target on the stock. The consensus estimate for Edgewise Therapeutics’ current full-year earnings is ($2.01) per share.

Edgewise Therapeutics (NASDAQ:EWTX) last posted its earnings results on Thursday, August 6th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.06).

Several other equities research analysts have also issued reports on the stock. Royal Bank Of Canada lifted their price objective on shares of Edgewise Therapeutics from $48.00 to $59.00 and gave the company an “outperform” rating in a research note on Wednesday, June 17th. Leerink Partners set a $52.00 target price on shares of Edgewise Therapeutics in a research report on Tuesday, June 16th. Oppenheimer began coverage on Edgewise Therapeutics in a report on Thursday, July 9th. They set an “outperform” rating and a $51.00 target price on the stock. Truist Financial set a $52.00 price target on Edgewise Therapeutics in a research report on Wednesday, May 6th. Finally, Evercore reiterated an “outperform” rating and set a $55.00 price target on shares of Edgewise Therapeutics in a research note on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Edgewise Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $48.75.

Edgewise Therapeutics Stock Down 1.3%

Shares of EWTX opened at $44.42 on Friday. The firm has a market cap of $4.78 billion, a price-to-earnings ratio of -26.76 and a beta of 0.30. The company’s fifty day moving average is $39.27 and its 200-day moving average is $34.02. Edgewise Therapeutics has a 12 month low of $12.30 and a 12 month high of $48.40.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Optimize Financial Inc lifted its stake in shares of Edgewise Therapeutics by 1.5% in the fourth quarter. Optimize Financial Inc now owns 27,679 shares of the company’s stock valued at $687,000 after buying an additional 396 shares during the period. Parallel Advisors LLC increased its stake in Edgewise Therapeutics by 64.9% during the first quarter. Parallel Advisors LLC now owns 1,032 shares of the company’s stock valued at $33,000 after acquiring an additional 406 shares during the period. Steward Partners Investment Advisory LLC increased its stake in Edgewise Therapeutics by 23.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,854 shares of the company’s stock valued at $71,000 after acquiring an additional 550 shares during the period. California State Teachers Retirement System raised its holdings in Edgewise Therapeutics by 2.4% in the 2nd quarter. California State Teachers Retirement System now owns 36,878 shares of the company’s stock valued at $483,000 after acquiring an additional 850 shares in the last quarter. Finally, AlphaCentric Advisors LLC raised its holdings in Edgewise Therapeutics by 6.2% in the 1st quarter. AlphaCentric Advisors LLC now owns 15,615 shares of the company’s stock valued at $492,000 after acquiring an additional 912 shares in the last quarter.

Insider Buying and Selling at Edgewise Therapeutics

In other news, insider Alan J. Russell sold 200,000 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $39.41, for a total value of $7,882,000.00. Following the completion of the sale, the insider directly owned 24,555 shares in the company, valued at approximately $967,712.55. The trade was a 89.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 21.30% of the company’s stock.

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.