Edgewise Therapeutics (NASDAQ:EWTX) Given New $51.00 Price Target at Piper Sandler

Edgewise Therapeutics (NASDAQ:EWTX) had its target price lifted by Piper Sandler from $48.00 to $51.00 in a research note issued to investors on Friday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other equities analysts have also recently weighed in on EWTX. JPMorgan Chase & Co. boosted their price objective on Edgewise Therapeutics from $30.00 to $31.00 and gave the stock an overweight rating in a research report on Monday, August 12th. Truist Financial boosted their price objective on Edgewise Therapeutics from $25.00 to $33.00 and gave the stock a buy rating in a research report on Thursday, September 19th. Royal Bank of Canada reissued an outperform rating and set a $32.00 price objective on shares of Edgewise Therapeutics in a research report on Tuesday, September 17th. Finally, Wedbush reissued an outperform rating and set a $31.00 price objective on shares of Edgewise Therapeutics in a research report on Friday, August 16th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Edgewise Therapeutics currently has an average rating of Buy and a consensus price target of $35.60.

Edgewise Therapeutics Trading Down 0.3 %

Shares of Edgewise Therapeutics stock opened at $31.82 on Friday. The firm has a fifty day simple moving average of $21.68 and a 200-day simple moving average of $19.37. The stock has a market capitalization of $2.97 billion, a price-to-earnings ratio of -20.53 and a beta of 0.20. Edgewise Therapeutics has a 1-year low of $5.12 and a 1-year high of $33.13.

Edgewise Therapeutics (NASDAQ:EWTX) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.02. As a group, research analysts predict that Edgewise Therapeutics will post -1.47 earnings per share for the current year.

Insider Activity at Edgewise Therapeutics

In other news, General Counsel John R. Moore sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $28.37, for a total value of $1,418,500.00. Following the sale, the general counsel now directly owns 3,252 shares in the company, valued at approximately $92,259.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, General Counsel John R. Moore sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $28.37, for a total value of $1,418,500.00. Following the sale, the general counsel now directly owns 3,252 shares in the company, valued at approximately $92,259.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Alan J. Russell sold 75,000 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $28.27, for a total value of $2,120,250.00. Following the completion of the transaction, the insider now directly owns 12,719 shares in the company, valued at $359,566.13. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 278,176 shares of company stock worth $7,893,316 over the last three months. Company insiders own 24.11% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Perceptive Advisors LLC acquired a new position in shares of Edgewise Therapeutics in the 4th quarter valued at $6,078,000. Virtu Financial LLC bought a new position in shares of Edgewise Therapeutics in the 4th quarter valued at about $263,000. Denali Advisors LLC bought a new position in shares of Edgewise Therapeutics in the 1st quarter valued at about $350,000. China Universal Asset Management Co. Ltd. grew its holdings in shares of Edgewise Therapeutics by 143.7% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 17,881 shares of the company’s stock valued at $326,000 after acquiring an additional 10,543 shares in the last quarter. Finally, GSA Capital Partners LLP lifted its stake in Edgewise Therapeutics by 41.5% in the 1st quarter. GSA Capital Partners LLP now owns 74,511 shares of the company’s stock valued at $1,359,000 after purchasing an additional 21,851 shares during the last quarter.

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.