Brokerages Set Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Target Price at $41.29

Shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Get Free Report) have received a consensus rating of "Moderate Buy" from the seven research firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $44.71.

EWTX has been the subject of a number of research analyst reports. Wedbush lifted their target price on Edgewise Therapeutics from $44.00 to $45.00 and gave the stock an "outperform" rating in a report on Friday, November 8th. Truist Financial lifted their target price on Edgewise Therapeutics from $33.00 to $50.00 and gave the stock a "buy" rating in a report on Wednesday, November 27th. Stifel Nicolaus initiated 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. Royal Bank of Canada reissued an "outperform" rating and issued a $56.00 target price on shares of Edgewise Therapeutics in a report on Tuesday. Finally, Evercore ISI lifted their target price on Edgewise Therapeutics from $45.00 to $50.00 and gave the stock an "outperform" rating in a report on Tuesday, December 17th.

Edgewise Therapeutics Stock Performance

Shares of EWTX traded up $2.21 on Friday, reaching $26.71. The stock had a trading volume of 781,031 shares, compared to its average volume of 987,601. The firm has a market capitalization of $2.53 billion, a price-to-earnings ratio of -17.81 and a beta of 0.20. The company has a 50-day simple moving average of $26.81 and a 200-day simple moving average of $27.76. Edgewise Therapeutics has a 12-month low of $14.90 and a 12-month high of $38.12.

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Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last released its earnings results on Monday, March 3rd. The company reported ($0.42) EPS for the quarter, missing analysts' consensus estimates of ($0.39) by ($0.03). On average, analysts expect that Edgewise Therapeutics will post -1.45 EPS for the current fiscal year.

Insiders Place Their Bets

In other Edgewise Therapeutics news, insider Alan J. Russell sold 1,200 shares of the business's stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $30.13, for a total transaction of $36,156.00. Following the sale, the insider now directly owns 14,863 shares of the company's stock, valued at $447,822.19. The trade was a 7.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Kevin Koch sold 8,636 shares of the company's stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $30.03, for a total value of $259,339.08. Following the transaction, the chief executive officer now directly owns 14,478 shares in the company, valued at approximately $434,774.34. This represents a 37.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 164,545 shares of company stock valued at $4,605,305 over the last ninety days. 24.11% of the stock is owned by insiders.

Institutional Trading of Edgewise Therapeutics

A number of large investors have recently modified their holdings of the company. Braidwell LP purchased a new stake in Edgewise Therapeutics during the third quarter worth $52,267,000. Janus Henderson Group PLC lifted its holdings in Edgewise Therapeutics by 74.8% during the third quarter. Janus Henderson Group PLC now owns 4,558,519 shares of the company's stock worth $121,616,000 after buying an additional 1,951,220 shares during the period. Paradigm Biocapital Advisors LP increased its position in shares of Edgewise Therapeutics by 61.1% during the fourth quarter. Paradigm Biocapital Advisors LP now owns 4,493,929 shares of the company's stock worth $119,988,000 after purchasing an additional 1,704,757 shares in the last quarter. First Light Asset Management LLC acquired a new position in shares of Edgewise Therapeutics during the fourth quarter worth $20,843,000. Finally, Foresite Capital Management VI LLC acquired a new position in shares of Edgewise Therapeutics during the fourth quarter worth $15,620,000.

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.