Wedbush Reduces Earnings Estimates for Edgewise Therapeutics

Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) - Equities research analysts at Wedbush decreased their Q1 2025 EPS estimates for Edgewise Therapeutics in a research note issued on Wednesday, April 2nd. Wedbush analyst L. Chico now anticipates that the company will post earnings of ($0.40) per share for the quarter, down from their previous forecast of ($0.36). The consensus estimate for Edgewise Therapeutics' current full-year earnings is ($1.45) per share. Wedbush also issued estimates for Edgewise Therapeutics' FY2025 earnings at ($1.69) EPS, Q1 2026 earnings at ($0.52) EPS, Q2 2026 earnings at ($0.55) EPS, Q3 2026 earnings at ($0.58) EPS, Q4 2026 earnings at ($0.60) EPS and FY2027 earnings at ($1.81) EPS.

EWTX has been the subject of several other research reports. Piper Sandler reiterated an "overweight" rating and set a $51.00 target price on shares of Edgewise Therapeutics in a research report on Wednesday, April 2nd. Scotiabank cut shares of Edgewise Therapeutics from a "sector outperform" rating to a "sector perform" rating and reduced their price objective for the company from $50.00 to $14.00 in a research report on Wednesday, April 2nd. Evercore ISI boosted their target price on shares of Edgewise Therapeutics from $45.00 to $50.00 and gave the stock an "outperform" rating in a report on Tuesday, December 17th. Royal Bank of Canada cut 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. Finally, Stifel Nicolaus began coverage on shares of Edgewise Therapeutics in a report on Wednesday, January 22nd. They issued a "hold" rating and a $30.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Edgewise Therapeutics presently has a consensus rating of "Moderate Buy" and an average target price of $40.38.

Edgewise Therapeutics Stock Down 1.3 %

NASDAQ:EWTX traded down $0.15 on Monday, reaching $11.42. 1,278,119 shares of the company's stock traded hands, compared to its average volume of 1,120,847. The stock has a 50-day simple moving average of $22.90 and a 200-day simple moving average of $27.78. Edgewise Therapeutics has a 12 month low of $10.60 and a 12 month high of $38.12. The firm has a market cap of $1.20 billion, a PE ratio of -7.61 and a beta of 0.32.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last released its earnings results on Monday, March 3rd. The company reported ($0.42) earnings per share for the quarter, missing analysts' consensus estimates of ($0.39) by ($0.03).

Hedge Funds Weigh In On Edgewise Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Franklin Resources Inc. raised its holdings in Edgewise Therapeutics by 84.2% during the 3rd quarter. Franklin Resources Inc. now owns 45,223 shares of the company's stock valued at $1,207,000 after buying an additional 20,674 shares during the period. Amundi increased its position in Edgewise Therapeutics by 127.2% during the fourth quarter. Amundi now owns 341,687 shares of the company's stock valued at $8,686,000 after acquiring an additional 191,267 shares during the last quarter. Victory Capital Management Inc. purchased a new stake in shares of Edgewise Therapeutics in the fourth quarter valued at $576,000. XTX Topco Ltd bought a new stake in shares of Edgewise Therapeutics in the 3rd quarter worth about $755,000. Finally, Moody Aldrich Partners LLC boosted its stake in shares of Edgewise Therapeutics by 24.3% during the 4th quarter. Moody Aldrich Partners LLC now owns 187,932 shares of the company's stock worth $5,018,000 after purchasing an additional 36,775 shares during the period.

Insider Buying and Selling

In related news, CEO Kevin Koch sold 8,636 shares of the 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 transaction, the chief executive officer now owns 14,478 shares of the company's stock, valued at approximately $434,774.34. This trade represents a 37.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $36,156.00. Following the sale, the insider now directly owns 14,863 shares in the company, valued at $447,822.19. The trade was a 7.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over 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.

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.