Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Receives $43.17 Average Target Price from Analysts

Shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) have been given an average recommendation of “Buy” by the six brokerages that are presently covering the firm, MarketBeat reports. Six equities research analysts have rated the stock with a buy recommendation. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $43.17.

Several equities research analysts recently commented on the stock. Truist Financial boosted their price objective on shares of Edgewise Therapeutics from $33.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Royal Bank of Canada restated an “outperform” rating and issued a $32.00 target price on shares of Edgewise Therapeutics in a report on Tuesday, September 17th. Wedbush upped their target price on shares of Edgewise Therapeutics from $44.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Evercore ISI upped their target price on shares of Edgewise Therapeutics from $45.00 to $50.00 and gave the company an “outperform” rating in a report on Tuesday, December 17th. Finally, Piper Sandler upped their target price on shares of Edgewise Therapeutics from $48.00 to $51.00 and gave the company an “overweight” rating in a report on Friday, October 11th.

Edgewise Therapeutics Stock Up 4.9 %

Edgewise Therapeutics stock opened at $25.33 on Friday. Edgewise Therapeutics has a 52 week low of $9.00 and a 52 week high of $38.12. The firm’s 50-day simple moving average is $30.54 and its 200 day simple moving average is $25.79. The firm has a market capitalization of $2.40 billion, a PE ratio of -16.89 and a beta of 0.20.

Edgewise Therapeutics (NASDAQ:EWTX) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.01. On average, research analysts expect that Edgewise Therapeutics will post -1.45 EPS for the current fiscal year.

Insider Transactions at Edgewise Therapeutics

In other news, insider Alan J. Russell sold 100,000 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $27.37, for a total transaction of $2,737,000.00. Following the transaction, the insider now directly owns 14,863 shares in the company, valued at $406,800.31. This represents a 87.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Marc Semigran sold 29,709 shares of the stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $29.69, for a total transaction of $882,060.21. Following the transaction, the insider now owns 6,716 shares in the company, valued at approximately $199,398.04. The trade was a 81.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 24.11% of the company’s stock.

Institutional Trading of Edgewise Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. increased its position in Edgewise Therapeutics by 21.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,392 shares of the company’s stock worth $88,000 after purchasing an additional 604 shares in the last quarter. Quest Partners LLC increased its position in Edgewise Therapeutics by 156.9% during the 2nd quarter. Quest Partners LLC now owns 1,742 shares of the company’s stock worth $31,000 after purchasing an additional 1,064 shares in the last quarter. Meeder Asset Management Inc. increased its position in Edgewise Therapeutics by 69.9% during the 3rd quarter. Meeder Asset Management Inc. now owns 3,307 shares of the company’s stock worth $88,000 after purchasing an additional 1,361 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Edgewise Therapeutics by 5.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 84,294 shares of the company’s stock worth $2,250,000 after purchasing an additional 4,426 shares in the last quarter. Finally, Chicago Partners Investment Group LLC acquired a new stake in Edgewise Therapeutics during the 3rd quarter worth approximately $161,000.

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.