Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Receives $45.38 Consensus Target Price from Analysts

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) has been given a consensus recommendation of “Moderate Buy” by the eight analysts that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $45.38.

EWTX has been the subject of several recent analyst reports. Stifel Nicolaus assumed coverage on shares of Edgewise Therapeutics in a report on Wednesday, January 22nd. They issued a “hold” rating and a $30.00 target price for the company. Scotiabank began coverage on shares of Edgewise Therapeutics in a research note on Friday, March 7th. They issued a “sector outperform” rating and a $50.00 price objective for the company. Royal Bank of Canada reissued an “outperform” rating and set a $56.00 target price on shares of Edgewise Therapeutics in a research note on Tuesday, March 4th. Finally, Evercore ISI raised their target price on Edgewise Therapeutics from $45.00 to $50.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 17th.

Insider Transactions at Edgewise Therapeutics

In other Edgewise Therapeutics news, CMO Joanne M. Donovan sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $27.63, for a total transaction of $690,750.00. Following the completion of the sale, the chief marketing officer now owns 16,358 shares of the company’s stock, valued at $451,971.54. This represents a 60.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $36,156.00. Following the sale, the insider now directly owns 14,863 shares of the company’s stock, valued at approximately $447,822.19. This represents a 7.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,836 shares of company stock worth $986,245 in the last 90 days. 24.11% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in EWTX. Braidwell LP acquired a new position in shares of Edgewise Therapeutics in the 3rd quarter valued at $52,267,000. Janus Henderson Group PLC raised its position in Edgewise Therapeutics by 74.8% in the third quarter. Janus Henderson Group PLC now owns 4,558,519 shares of the company’s stock worth $121,616,000 after purchasing an additional 1,951,220 shares in the last quarter. Paradigm Biocapital Advisors LP raised its position in Edgewise Therapeutics by 61.1% in the fourth quarter. Paradigm Biocapital Advisors LP now owns 4,493,929 shares of the company’s stock worth $119,988,000 after purchasing an additional 1,704,757 shares in the last quarter. First Light Asset Management LLC acquired a new stake in Edgewise Therapeutics during the fourth quarter valued at approximately $20,843,000. Finally, Foresite Capital Management VI LLC acquired a new stake in Edgewise Therapeutics during the fourth quarter valued at approximately $15,620,000.

Edgewise Therapeutics Stock Down 5.5 %

NASDAQ:EWTX opened at $22.00 on Thursday. Edgewise Therapeutics has a 52-week low of $14.90 and a 52-week high of $38.12. The firm has a market cap of $2.09 billion, a P/E ratio of -14.67 and a beta of 0.22. The business’s 50-day moving average price is $26.18 and its 200 day moving average price is $28.63.

Edgewise Therapeutics (NASDAQ:EWTX) last issued 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 expect that Edgewise Therapeutics will post -1.45 EPS for the current year.

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.