Edgewise Therapeutics' (EWTX) Overweight Rating Reiterated at Piper Sandler

Piper Sandler reissued their overweight rating on shares of Edgewise Therapeutics (NASDAQ:EWTX - Free Report) in a report published on Wednesday morning, Marketbeat reports. The firm currently has a $51.00 price target on the stock.

Several other equities research analysts have also recently commented on EWTX. Scotiabank cut shares of Edgewise Therapeutics from a "sector outperform" rating to a "sector perform" rating and cut their price target for the stock from $50.00 to $14.00 in a research report on Wednesday, April 2nd. Stifel Nicolaus initiated coverage on Edgewise Therapeutics in a report on Wednesday, January 22nd. They set a "hold" rating and a $30.00 target price on the stock. Evercore ISI raised their price target on Edgewise Therapeutics from $45.00 to $50.00 and gave the company an "outperform" rating in a research note on Tuesday, December 17th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $56.00 price target on shares of Edgewise Therapeutics in a research report on Tuesday, March 4th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $40.38.

Edgewise Therapeutics Stock Up 1.7 %

EWTX traded up $0.20 during trading on Wednesday, hitting $11.71. The company had a trading volume of 4,093,873 shares, compared to its average volume of 1,090,528. The firm's 50-day moving average price is $25.20 and its 200 day moving average price is $28.54. The company has a market capitalization of $1.23 billion, a PE ratio of -7.81 and a beta of 0.32. Edgewise Therapeutics has a one year low of $10.63 and a one year high of $38.12.

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

Insider Activity at Edgewise Therapeutics

In other Edgewise Therapeutics news, insider Alan J. Russell sold 1,200 shares of the company's stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $30.13, for a total value of $36,156.00. Following the transaction, the insider now directly owns 14,863 shares of the company's stock, valued at $447,822.19. This represents a 7.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CMO Joanne M. Donovan sold 25,000 shares of the stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $27.63, for a total value of $690,750.00. Following the transaction, the chief marketing officer now owns 16,358 shares in the company, valued at $451,971.54. The trade was a 60.45 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,836 shares of company stock worth $986,245. Insiders own 24.11% of the company's stock.

Hedge Funds Weigh In On Edgewise Therapeutics

A number of hedge funds have recently bought and sold shares of EWTX. Diadema Partners LP bought a new stake in Edgewise Therapeutics in the 4th quarter valued at about $36,000. GF Fund Management CO. LTD. acquired a new stake in shares of Edgewise Therapeutics in the fourth quarter valued at approximately $53,000. Aquatic Capital Management LLC bought a new stake in shares of Edgewise Therapeutics in the fourth quarter valued at approximately $77,000. Tower Research Capital LLC TRC grew its position in Edgewise Therapeutics by 1,097.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,676 shares of the company's stock worth $98,000 after buying an additional 3,369 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in Edgewise Therapeutics in the 4th quarter valued at $103,000.

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.