FY2024 Earnings Estimate for EWTX Issued By Leerink Partnrs

Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) - Investment analysts at Leerink Partnrs raised their FY2024 earnings per share estimates for shares of Edgewise Therapeutics in a research note issued to investors on Tuesday, November 12th. Leerink Partnrs analyst J. Schwartz now forecasts that the company will post earnings of ($1.47) per share for the year, up from their previous forecast of ($1.50). The consensus estimate for Edgewise Therapeutics' current full-year earnings is ($1.46) per share. Leerink Partnrs also issued estimates for Edgewise Therapeutics' Q4 2024 earnings at ($0.44) EPS, Q1 2025 earnings at ($0.40) EPS, Q2 2025 earnings at ($0.49) EPS, Q3 2025 earnings at ($0.51) EPS, Q4 2025 earnings at ($0.53) EPS, FY2025 earnings at ($1.93) EPS and FY2026 earnings at ($2.04) EPS.

EWTX has been the topic of a number of other reports. Wedbush upped their target price on shares of Edgewise Therapeutics from $44.00 to $45.00 and gave the company an "outperform" rating in a report on Friday, November 8th. Royal Bank of Canada reissued an "outperform" rating and set a $32.00 target price on shares of Edgewise Therapeutics in a research report on Tuesday, September 17th. Truist Financial increased their target price on shares of Edgewise Therapeutics from $25.00 to $33.00 and gave the stock a "buy" rating in a research report on Thursday, September 19th. Piper Sandler increased their target price on shares of Edgewise Therapeutics from $48.00 to $51.00 and gave the stock an "overweight" rating in a research report on Friday, October 11th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Edgewise Therapeutics from $30.00 to $31.00 and gave the company an "overweight" rating in a research report on Monday, August 12th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Edgewise Therapeutics presently has a consensus rating of "Buy" and an average target price of $38.40.

Edgewise Therapeutics Price Performance

NASDAQ:EWTX traded down $1.43 on Friday, reaching $31.44. The stock had a trading volume of 933,069 shares, compared to its average volume of 953,202. The company has a market cap of $2.98 billion, a price-to-earnings ratio of -21.06 and a beta of 0.14. The firm's fifty day moving average is $29.24 and its two-hundred day moving average is $22.23. Edgewise Therapeutics has a 12-month low of $5.93 and a 12-month high of $38.12.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last posted its earnings results on Thursday, November 7th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.37) by $0.01.

Institutional Trading of Edgewise Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. RA Capital Management L.P. acquired a new position in shares of Edgewise Therapeutics in the 1st quarter valued at about $162,502,000. Novo Holdings A S acquired a new position in shares of Edgewise Therapeutics in the 2nd quarter valued at about $114,263,000. Baker BROS. Advisors LP increased its holdings in shares of Edgewise Therapeutics by 87.6% in the 1st quarter. Baker BROS. Advisors LP now owns 5,840,059 shares of the company's stock valued at $106,523,000 after purchasing an additional 2,727,273 shares during the period. Janus Henderson Group PLC grew its stake in shares of Edgewise Therapeutics by 74.8% in the 3rd quarter. Janus Henderson Group PLC now owns 4,558,519 shares of the company's stock valued at $121,616,000 after buying an additional 1,951,220 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Edgewise Therapeutics by 89.0% in the 1st quarter. Vanguard Group Inc. now owns 4,017,433 shares of the company's stock valued at $73,278,000 after buying an additional 1,892,053 shares in the last quarter.

Insider Activity at Edgewise Therapeutics

In other news, CFO R Michael Carruthers sold 125,092 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $28.57, for a total value of $3,573,878.44. Following the completion of the transaction, the chief financial officer now directly owns 6,904 shares in the company, valued at $197,247.28. This trade represents a 94.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CMO Joanne M. Donovan sold 7,162 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $28.29, for a total transaction of $202,612.98. Following the completion of the transaction, the chief marketing officer now owns 14,538 shares of the company's stock, valued at $411,280.02. This trade represents a 33.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 278,176 shares of company stock valued at $7,893,316 over the last three months. 24.11% of the stock is owned by insiders.

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.