Edgewise Therapeutics (EWTX) to Release Quarterly Earnings on Thursday

Edgewise Therapeutics (NASDAQ:EWTX) is projected to announce its earnings results before the market opens on Thursday, February 27th. Analysts expect the company to announce earnings of ($0.39) per share for the quarter.

Edgewise Therapeutics Stock Up 0.3 %

EWTX stock opened at $25.08 on Wednesday. The business has a fifty day moving average of $27.33 and a two-hundred day moving average of $27.48. The stock has a market cap of $2.37 billion, a price-to-earnings ratio of -16.72 and a beta of 0.20. Edgewise Therapeutics has a 52-week low of $14.90 and a 52-week high of $38.12.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Truist Financial lifted their price objective on Edgewise Therapeutics from $33.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Stifel Nicolaus assumed coverage on Edgewise Therapeutics in a report on Wednesday, January 22nd. They issued a “hold” rating and a $30.00 target price for the company. Wedbush lifted their target price on Edgewise Therapeutics from $44.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Finally, Evercore ISI lifted their target price on Edgewise Therapeutics from $45.00 to $50.00 and gave the company an “outperform” rating in a report on Tuesday, December 17th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Edgewise Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.29.

Insiders Place Their Bets

In other news, insider Alan J. Russell sold 100,000 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $27.37, for a total value of $2,737,000.00. Following the completion of the sale, the insider now directly owns 14,863 shares of the company’s stock, valued at approximately $406,800.31. The trade was a 87.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kevin Koch sold 8,636 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $30.03, for a total value of $259,339.08. Following the completion of the sale, the chief executive officer now directly owns 14,478 shares of the company’s stock, valued at $434,774.34. The trade was a 37.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 164,545 shares of company stock valued at $4,605,305 in the last ninety days. Insiders own 24.11% of the company’s stock.

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.