Brokerages Set Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Price Target at $38.13

Shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) have earned a consensus recommendation of “Moderate Buy” from the nine brokerages that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $39.6667.

Several equities research analysts recently issued reports on the company. Piper Sandler reiterated an “overweight” rating on shares of Edgewise Therapeutics in a report on Monday, February 9th. Wedbush restated an “outperform” rating and set a $32.00 price objective on shares of Edgewise Therapeutics in a research note on Tuesday, March 17th. Evercore reaffirmed an “outperform” rating and set a $45.00 price objective on shares of Edgewise Therapeutics in a report on Thursday, February 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Edgewise Therapeutics in a research note on Monday, April 20th. Finally, Truist Financial set a $52.00 target price on shares of Edgewise Therapeutics in a report on Wednesday.

Insider Buying and Selling at Edgewise Therapeutics

In other news, CMO Joanne M. Donovan sold 50,000 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the chief marketing officer directly owned 4,367 shares of the company’s stock, valued at $168,435.19. This represents a 91.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last quarter, insiders sold 83,892 shares of company stock valued at $3,018,216. 23.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Edgewise Therapeutics

A number of hedge funds have recently made changes to their positions in EWTX. Parallel Advisors LLC boosted its holdings in shares of Edgewise Therapeutics by 64.9% in the 1st quarter. Parallel Advisors LLC now owns 1,032 shares of the company’s stock worth $33,000 after buying an additional 406 shares during the last quarter. Bessemer Group Inc. increased its holdings in Edgewise Therapeutics by 1,170.3% during the third quarter. Bessemer Group Inc. now owns 2,350 shares of the company’s stock worth $38,000 after buying an additional 2,165 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in Edgewise Therapeutics during the second quarter worth about $45,000. Jones Financial Companies Lllp bought a new stake in Edgewise Therapeutics in the first quarter worth about $47,000. Finally, KBC Group NV purchased a new position in Edgewise Therapeutics in the first quarter valued at about $49,000.

Edgewise Therapeutics Price Performance

EWTX opened at $35.58 on Friday. Edgewise Therapeutics has a fifty-two week low of $12.15 and a fifty-two week high of $39.96. The firm has a market capitalization of $3.82 billion, a PE ratio of -21.83 and a beta of 0.25. The company’s 50-day moving average is $31.52 and its 200 day moving average is $26.82.

Edgewise Therapeutics (NASDAQ:EWTX) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.46) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.04. As a group, analysts expect that Edgewise Therapeutics will post -2.16 EPS 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.