Edgewise Therapeutics (NASDAQ:EWTX) Receives “Buy” Rating from HC Wainwright

Edgewise Therapeutics (NASDAQ:EWTX)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a report released on Tuesday,Benzinga reports. They presently have a $45.00 price objective on the stock. HC Wainwright’s price target suggests a potential upside of 32.28% from the company’s previous close.

A number of other equities research analysts have also recently commented on the stock. Stifel Nicolaus set a $25.00 target price on shares of Edgewise Therapeutics in a research report on Thursday, February 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Edgewise Therapeutics in a research report on Monday, April 20th. Raymond James Financial reiterated a “strong-buy” rating and set a $66.00 price objective on shares of Edgewise Therapeutics in a report on Monday, June 1st. Wedbush raised their price objective on Edgewise Therapeutics from $46.00 to $52.00 and gave the stock an “outperform” rating in a research report on Monday, June 1st. Finally, Wall Street Zen downgraded Edgewise Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $44.22.

Edgewise Therapeutics Stock Performance

EWTX traded down $1.19 on Tuesday, hitting $34.02. The company had a trading volume of 4,089,730 shares, compared to its average volume of 1,130,152. The stock has a market capitalization of $3.66 billion, a price-to-earnings ratio of -20.53 and a beta of 0.27. The stock has a fifty day moving average price of $33.74 and a 200-day moving average price of $29.73. Edgewise Therapeutics has a 12-month low of $12.15 and a 12-month high of $40.76.

Edgewise Therapeutics (NASDAQ:EWTX) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.46) EPS for the quarter, beating the consensus estimate of ($0.50) by $0.04. Analysts forecast that Edgewise Therapeutics will post -2.01 EPS for the current fiscal year.

Insider Transactions at Edgewise Therapeutics

In other Edgewise Therapeutics news, CMO Joanne M. Donovan sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $38.57, for a total transaction of $1,928,500.00. Following the transaction, the chief marketing officer owned 4,367 shares in the company, valued at approximately $168,435.19. This represents a 91.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last quarter, insiders have sold 83,892 shares of company stock worth $3,018,216. Corporate insiders own 21.30% of the company’s stock.

Hedge Funds Weigh In On Edgewise Therapeutics

Hedge funds have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Edgewise Therapeutics by 6.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,776 shares of the company’s stock worth $963,000 after acquiring an additional 2,463 shares during the period. Jones Financial Companies Lllp acquired a new position in shares of Edgewise Therapeutics in the first quarter valued at about $47,000. Goldman Sachs Group Inc. raised its stake in shares of Edgewise Therapeutics by 5.7% in the first quarter. Goldman Sachs Group Inc. now owns 366,644 shares of the company’s stock worth $8,066,000 after purchasing an additional 19,753 shares during the last quarter. Strs Ohio purchased a new position in shares of Edgewise Therapeutics in the first quarter worth about $84,000. Finally, Creative Planning lifted its holdings in shares of Edgewise Therapeutics by 29.4% during the second quarter. Creative Planning now owns 16,910 shares of the company’s stock worth $222,000 after purchasing an additional 3,837 shares during the period.

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.