JPMorgan Chase & Co. Issues Positive Forecast for Edgewise Therapeutics (NASDAQ:EWTX) Stock Price

Edgewise Therapeutics (NASDAQ:EWTX) had its price objective boosted by JPMorgan Chase & Co. from $33.00 to $34.00 in a research report released on Friday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other brokerages have also issued reports on EWTX. The Goldman Sachs Group initiated coverage on shares of Edgewise Therapeutics in a research note on Thursday, September 25th. They set a “neutral” rating and a $20.00 target price for the company. Royal Bank Of Canada upped their target price on shares of Edgewise Therapeutics from $49.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. Raymond James Financial began coverage on Edgewise Therapeutics in a report on Wednesday, July 30th. They issued a “strong-buy” rating and a $46.00 price target for the company. Wedbush dropped their price objective on Edgewise Therapeutics from $35.00 to $32.00 and set an “outperform” rating on the stock in a research note on Friday, November 7th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Edgewise Therapeutics in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $38.33.

Edgewise Therapeutics Trading Up 11.4%

Shares of NASDAQ:EWTX traded up $2.33 during trading on Friday, reaching $22.75. The company’s stock had a trading volume of 2,512,837 shares, compared to its average volume of 1,061,318. The stock has a market capitalization of $2.41 billion, a PE ratio of -14.40 and a beta of 0.30. Edgewise Therapeutics has a 12 month low of $10.60 and a 12 month high of $35.50. The firm’s 50 day simple moving average is $16.11 and its two-hundred day simple moving average is $14.93.

Edgewise Therapeutics (NASDAQ:EWTX) last announced its earnings results on Thursday, November 6th. The company reported ($0.39) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.01. Research analysts anticipate that Edgewise Therapeutics will post -1.45 EPS for the current fiscal year.

Insider Transactions at Edgewise Therapeutics

In other Edgewise Therapeutics news, insider Alan J. Russell sold 100,000 shares of Edgewise Therapeutics stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $21.12, for a total value of $2,112,000.00. Following the transaction, the insider directly owned 23,400 shares of the company’s stock, valued at approximately $494,208. The trade was a 81.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jonathan C. Fox purchased 10,700 shares of the business’s stock in a transaction on Tuesday, November 11th. The shares were bought at an average price of $18.64 per share, for a total transaction of $199,448.00. Following the purchase, the director directly owned 23,702 shares in the company, valued at $441,805.28. This represents a 82.30% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 23.20% of the stock is currently owned by company insiders.

Institutional Trading of Edgewise Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of EWTX. Arizona State Retirement System raised its position in shares of Edgewise Therapeutics by 12.3% during the 1st quarter. Arizona State Retirement System now owns 12,201 shares of the company’s stock valued at $268,000 after buying an additional 1,338 shares during the period. Jennison Associates LLC purchased a new stake in shares of Edgewise Therapeutics during the first quarter worth $2,832,000. Readystate Asset Management LP raised its position in Edgewise Therapeutics by 1,591.0% in the 1st quarter. Readystate Asset Management LP now owns 361,233 shares of the company’s stock valued at $7,947,000 after purchasing an additional 339,871 shares in the last quarter. Skandinaviska Enskilda Banken AB publ acquired a new stake in Edgewise Therapeutics in the first quarter valued at approximately $827,000. Finally, TD Asset Management Inc purchased a new stake in shares of Edgewise Therapeutics during the 1st quarter worth $730,000.

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.