Brokerages Set Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Target Price at $50.33

Shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) have received a consensus rating of “Moderate Buy” from the eleven ratings firms that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $50.3333.

A number of research analysts recently commented on the company. Guggenheim upped their target price on Edgewise Therapeutics from $41.00 to $51.00 and gave the company a “buy” rating in a research note on Monday, July 6th. Oppenheimer started coverage on shares of Edgewise Therapeutics in a report on Thursday, July 9th. They issued an “outperform” rating and a $51.00 price target on the stock. Leerink Partners set a $52.00 price objective on shares of Edgewise Therapeutics in a research note on Tuesday, June 16th. Evercore reaffirmed an “outperform” rating and set a $55.00 price objective on shares of Edgewise Therapeutics in a report on Monday, July 20th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Edgewise Therapeutics from $53.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, August 20th.

Insider Buying and Selling at Edgewise Therapeutics

In other news, CEO Kevin Koch sold 17,971 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $43.68, for a total value of $784,973.28. Following the sale, the chief executive officer directly owned 52,488 shares in the company, valued at approximately $2,292,675.84. This represents a 25.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Alan J. Russell sold 200,000 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $39.41, for a total value of $7,882,000.00. Following the completion of the transaction, the insider directly owned 24,555 shares of the company’s stock, valued at approximately $967,712.55. The trade was a 89.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 238,329 shares of company stock worth $9,557,529. 21.30% of the stock is currently owned by company insiders.

Institutional Trading of Edgewise Therapeutics

Large investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Edgewise Therapeutics by 6.0% during the first 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 in the last quarter. Jones Financial Companies Lllp acquired a new stake in shares of Edgewise Therapeutics in the 1st quarter valued at $47,000. Goldman Sachs Group Inc. boosted its stake in shares of Edgewise Therapeutics by 5.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 366,644 shares of the company’s stock valued at $8,066,000 after purchasing an additional 19,753 shares in the last quarter. Strs Ohio bought a new stake in shares of Edgewise Therapeutics in the 1st quarter worth about $84,000. Finally, Creative Planning grew its holdings in shares of Edgewise Therapeutics by 29.4% in the 2nd 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 last quarter.

Edgewise Therapeutics Stock Up 2.7%

EWTX stock opened at $43.07 on Thursday. Edgewise Therapeutics has a twelve month low of $13.69 and a twelve month high of $48.40. The company has a market cap of $4.68 billion, a PE ratio of -23.28 and a beta of 0.32. The business’s 50-day simple moving average is $42.20 and its 200 day simple moving average is $36.12.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($0.06). On average, equities research analysts anticipate that Edgewise Therapeutics will post -2.09 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.