Edgewise Therapeutics (NASDAQ:EWTX) PT Raised to $33.00 at Truist Financial

Edgewise Therapeutics (NASDAQ:EWTX) had its target price increased by research analysts at Truist Financial from $25.00 to $33.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price objective would suggest a potential upside of 17.23% from the company’s current price.

Other equities analysts also recently issued reports about the stock. JPMorgan Chase & Co. upped their price target on shares of Edgewise Therapeutics from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Monday, August 12th. Wedbush reiterated an “outperform” rating and set a $31.00 price objective on shares of Edgewise Therapeutics in a research note on Friday, August 16th. Piper Sandler reiterated an “overweight” rating and set a $48.00 price objective on shares of Edgewise Therapeutics in a research note on Monday, July 1st. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $32.00 price objective on shares of Edgewise Therapeutics in a research note on Tuesday. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $35.00.

Edgewise Therapeutics Stock Up 47.6 %

Shares of EWTX stock traded up $9.08 during trading on Thursday, reaching $28.15. The company’s stock had a trading volume of 8,987,605 shares, compared to its average volume of 922,464. The business has a fifty day moving average price of $18.73 and a 200-day moving average price of $17.96. The company has a market cap of $2.63 billion, a price-to-earnings ratio of -18.16 and a beta of 0.15. Edgewise Therapeutics has a one year low of $5.12 and a one year high of $30.00.

Edgewise Therapeutics (NASDAQ:EWTX) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.36) by $0.02. Research analysts anticipate that Edgewise Therapeutics will post -1.48 EPS for the current year.

Institutional Trading of Edgewise Therapeutics

Institutional investors have recently made changes to their positions in the company. Novo Holdings A S purchased a new position in shares of Edgewise Therapeutics in the 2nd quarter worth about $114,263,000. Quarry LP purchased a new position in shares of Edgewise Therapeutics in the 2nd quarter worth about $252,000. Frazier Life Sciences Management L.P. boosted its holdings in shares of Edgewise Therapeutics by 12.9% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 3,731,067 shares of the company’s stock worth $67,197,000 after buying an additional 427,500 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Edgewise Therapeutics by 25.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 38,366 shares of the company’s stock worth $691,000 after buying an additional 7,786 shares during the last quarter. Finally, Millennium Management LLC increased its position in shares of Edgewise Therapeutics by 115.2% during the second quarter. Millennium Management LLC now owns 1,145,506 shares of the company’s stock valued at $20,631,000 after buying an additional 613,251 shares during the period.

About Edgewise Therapeutics

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.