Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) has been given an average rating of “Moderate Buy” by the seven research firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $44.71.

A number of analysts have weighed in on the company. Evercore ISI boosted their price target on Edgewise Therapeutics from $45.00 to $50.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 17th. Wedbush upped their target price on Edgewise Therapeutics from $44.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Truist Financial lifted their price target on shares of Edgewise Therapeutics from $33.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Royal Bank of Canada restated an “outperform” rating and set a $56.00 price target on shares of Edgewise Therapeutics in a report on Tuesday. Finally, Stifel Nicolaus started coverage on Edgewise Therapeutics in a research report on Wednesday, January 22nd. They set a “hold” rating and a $30.00 price objective for the company.

Edgewise Therapeutics Stock Performance

NASDAQ EWTX opened at $28.13 on Friday. Edgewise Therapeutics has a one year low of $14.90 and a one year high of $38.12. The company has a 50-day simple moving average of $26.78 and a 200-day simple moving average of $27.76. The firm has a market capitalization of $2.68 billion, a PE ratio of -18.75 and a beta of 0.22.

Edgewise Therapeutics (NASDAQ:EWTX) last posted its quarterly earnings data on Monday, March 3rd. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.03). Equities analysts forecast that Edgewise Therapeutics will post -1.45 earnings per share for the current year.

Insider Transactions at Edgewise Therapeutics

In other news, insider Alan J. Russell sold 100,000 shares of the business’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $27.37, for a total transaction of $2,737,000.00. Following the completion of the transaction, the insider now owns 14,863 shares of the company’s stock, valued at approximately $406,800.31. The trade was a 87.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Marc Semigran sold 29,709 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $29.69, for a total transaction of $882,060.21. Following the completion of the sale, the insider now owns 6,716 shares in the company, valued at $199,398.04. This represents a 81.56 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 164,545 shares of company stock valued at $4,605,305. Company 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 the company. Ally Bridge Group NY LLC bought a new stake in shares of Edgewise Therapeutics during the 3rd quarter valued at $5,010,000. Franklin Resources Inc. raised its position 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 purchasing an additional 20,674 shares during the last quarter. abrdn plc purchased a new position in shares of Edgewise Therapeutics during the third quarter valued at about $6,850,000. Braidwell LP bought a new position in shares of Edgewise Therapeutics in the 3rd quarter worth about $52,267,000. Finally, XTX Topco Ltd bought a new position in shares of Edgewise Therapeutics during the third quarter valued at $755,000.

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.