Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Receives $40.38 Consensus Price Target from Analysts

Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Get Free Report) has received an average recommendation of "Moderate Buy" from the eight brokerages that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $40.13.

Several equities research analysts have recently weighed in on the stock. Piper Sandler reissued an "overweight" rating and issued a $51.00 target price on shares of Edgewise Therapeutics in a research report on Wednesday, April 2nd. Royal Bank of Canada decreased their target price on shares of Edgewise Therapeutics from $56.00 to $52.00 and set an "outperform" rating for the company in a research note on Thursday, April 3rd. Wedbush reaffirmed an "outperform" rating and set a $43.00 target price on shares of Edgewise Therapeutics in a research report on Monday. Stifel Nicolaus started coverage on shares of Edgewise Therapeutics in a research report on Wednesday, January 22nd. They issued a "hold" rating and a $30.00 price target on the stock. Finally, Scotiabank downgraded Edgewise Therapeutics from a "sector outperform" rating to a "sector perform" rating and decreased their price objective for the company from $50.00 to $14.00 in a report on Wednesday, April 2nd.

Edgewise Therapeutics Trading Up 3.8 %

NASDAQ:EWTX traded up $0.57 during midday trading on Monday, reaching $15.40. The company had a trading volume of 376,935 shares, compared to its average volume of 1,143,273. Edgewise Therapeutics has a 12-month low of $10.60 and a 12-month high of $38.12. The stock's fifty day simple moving average is $20.74 and its 200-day simple moving average is $27.02. The firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of -10.25 and a beta of 0.32.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last posted its quarterly earnings results on Monday, March 3rd. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.03). As a group, sell-side analysts expect that Edgewise Therapeutics will post -1.45 EPS for the current year.

Insider Transactions at Edgewise Therapeutics

In related news, Director Orbimed Advisors Llc bought 496,771 shares of the firm's stock in a transaction on Thursday, April 3rd. The shares were purchased at an average price of $20.13 per share, with a total value of $10,000,000.23. Following the completion of the purchase, the director now owns 14,809,075 shares in the company, valued at $298,106,679.75. This represents a 3.47 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, insider Alan J. Russell sold 1,200 shares of the firm's stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $30.13, for a total transaction of $36,156.00. Following the completion of the transaction, the insider now owns 14,863 shares of the company's stock, valued at approximately $447,822.19. This trade represents a 7.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,836 shares of company stock worth $986,245 over the last quarter. Company insiders own 24.11% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of EWTX. Baker BROS. Advisors LP boosted its position in Edgewise Therapeutics by 5.4% during the fourth quarter. Baker BROS. Advisors LP now owns 6,155,940 shares of the company's stock valued at $164,364,000 after acquiring an additional 315,881 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Edgewise Therapeutics by 9.3% in the fourth quarter. Janus Henderson Group PLC now owns 4,983,940 shares of the company's stock valued at $133,044,000 after purchasing an additional 425,421 shares in the last quarter. Paradigm Biocapital Advisors LP boosted its holdings in Edgewise Therapeutics by 61.1% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 4,493,929 shares of the company's stock worth $119,988,000 after acquiring an additional 1,704,757 shares during the last quarter. Braidwell LP increased its stake in Edgewise Therapeutics by 19.1% in the 4th quarter. Braidwell LP now owns 2,332,196 shares of the company's stock valued at $62,270,000 after buying an additional 373,886 shares during the last quarter. Finally, Deerfield Management Company L.P. Series C lifted its holdings in Edgewise Therapeutics by 16.7% during the fourth quarter. Deerfield Management Company L.P. Series C now owns 2,078,509 shares of the company's stock worth $55,496,000 after acquiring an additional 297,503 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.