Edgewise Therapeutics (NASDAQ:EWTX) Price Target Raised to $45.00

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) had its price target hoisted by Wedbush from $44.00 to $45.00 in a research report issued on Friday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Wedbush's price target indicates a potential upside of 23.69% from the company's current price.

EWTX has been the subject of several other reports. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $32.00 price target on shares of Edgewise Therapeutics in a research report on Tuesday, September 17th. Truist Financial upped their target price on shares of Edgewise Therapeutics from $25.00 to $33.00 and gave the stock a "buy" rating in a research note on Thursday, September 19th. JPMorgan Chase & Co. boosted their price objective on shares of Edgewise Therapeutics from $30.00 to $31.00 and gave the stock an "overweight" rating in a report on Monday, August 12th. Finally, Piper Sandler upped their price objective on Edgewise Therapeutics from $48.00 to $51.00 and gave the company an "overweight" rating in a research report on Friday, October 11th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $38.40.

Edgewise Therapeutics Stock Performance

Shares of Edgewise Therapeutics stock traded up $0.95 during trading on Friday, hitting $36.38. The company's stock had a trading volume of 626,570 shares, compared to its average volume of 958,290. Edgewise Therapeutics has a 52 week low of $5.12 and a 52 week high of $37.29. The company has a fifty day simple moving average of $27.59 and a two-hundred day simple moving average of $21.58. The company has a market capitalization of $3.41 billion, a PE ratio of -23.06 and a beta of 0.14.

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

Insiders Place Their Bets

In other news, General Counsel John R. Moore sold 20,922 shares of the company's stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $27.63, for a total transaction of $578,074.86. Following the completion of the sale, the general counsel now owns 3,252 shares of the company's stock, valued at $89,852.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, General Counsel John R. Moore sold 20,922 shares of the company's stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $27.63, for a total value of $578,074.86. Following the completion of the sale, the general counsel now directly owns 3,252 shares in the company, valued at $89,852.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, General Counsel John R. Moore sold 50,000 shares of Edgewise Therapeutics stock in a transaction on Friday, September 20th. The shares were sold at an average price of $28.37, for a total value of $1,418,500.00. Following the transaction, the general counsel now owns 3,252 shares in the company, valued at $92,259.24. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 278,176 shares of company stock valued at $7,893,316. Insiders own 24.11% of the company's stock.

Hedge Funds Weigh In On Edgewise Therapeutics

A number of hedge funds have recently modified their holdings of EWTX. RA Capital Management L.P. purchased a new position in shares of Edgewise Therapeutics during the 1st quarter valued at $162,502,000. Novo Holdings A S bought a new position in shares of Edgewise Therapeutics in the second quarter worth about $114,263,000. Baker BROS. Advisors LP grew its position in shares of Edgewise Therapeutics by 87.6% during the first quarter. Baker BROS. Advisors LP now owns 5,840,059 shares of the company's stock worth $106,523,000 after purchasing an additional 2,727,273 shares in the last quarter. Vanguard Group Inc. raised its stake in Edgewise Therapeutics by 89.0% during the 1st quarter. Vanguard Group Inc. now owns 4,017,433 shares of the company's stock valued at $73,278,000 after purchasing an additional 1,892,053 shares during the period. Finally, Frazier Life Sciences Management L.P. lifted its holdings in Edgewise Therapeutics by 12.9% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 3,731,067 shares of the company's stock worth $67,197,000 after purchasing an additional 427,500 shares in 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.