FY2024 Earnings Forecast for EWTX Issued By Leerink Partnrs

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) – Equities research analysts at Leerink Partnrs raised their FY2024 earnings per share estimates for shares of Edgewise Therapeutics in a research note issued on Tuesday, November 12th. Leerink Partnrs analyst J. Schwartz now forecasts that the company will post earnings per share of ($1.47) for the year, up from their prior 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.

Several other research analysts also recently weighed in on EWTX. Piper Sandler upped their price target 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. JPMorgan Chase & Co. increased their target price on Edgewise Therapeutics from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Monday, August 12th. Truist Financial lifted their price target on Edgewise Therapeutics from $25.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Wedbush boosted their price target on Edgewise Therapeutics from $44.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $32.00 price objective on shares of Edgewise Therapeutics in a report on Tuesday, September 17th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $38.40.

Edgewise Therapeutics Stock Performance

NASDAQ:EWTX opened at $31.44 on Friday. The stock has a market capitalization of $2.98 billion, a PE ratio of -20.96 and a beta of 0.14. Edgewise Therapeutics has a fifty-two week low of $5.93 and a fifty-two week high of $38.12. The company has a fifty day moving average of $29.52 and a two-hundred day moving average of $22.37.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.36) EPS for the quarter, beating the consensus estimate of ($0.37) by $0.01.

Institutional Trading of Edgewise Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Quest Partners LLC lifted its holdings in Edgewise Therapeutics by 156.9% in the second quarter. Quest Partners LLC now owns 1,742 shares of the company’s stock valued at $31,000 after acquiring an additional 1,064 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Edgewise Therapeutics in the 2nd quarter valued at $35,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Edgewise Therapeutics by 21.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,392 shares of the company’s stock worth $88,000 after purchasing an additional 604 shares during the period. Ameritas Investment Partners Inc. increased its position in shares of Edgewise Therapeutics by 37.3% during the 1st quarter. Ameritas Investment Partners Inc. now owns 5,751 shares of the company’s stock worth $105,000 after purchasing an additional 1,561 shares during the last quarter. Finally, Chicago Partners Investment Group LLC purchased a new stake in Edgewise Therapeutics in the 3rd quarter valued at about $161,000.

Insider Transactions at Edgewise Therapeutics

In other news, General Counsel John R. Moore sold 20,922 shares of Edgewise Therapeutics stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $27.63, for a total transaction of $578,074.86. Following the transaction, the general counsel now owns 3,252 shares in the company, valued at $89,852.76. The trade was a 86.55 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Joanne M. Donovan sold 7,162 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $28.29, for a total transaction of $202,612.98. Following the transaction, the chief marketing officer now directly owns 14,538 shares in the company, valued at approximately $411,280.02. The trade was a 33.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 278,176 shares of company stock worth $7,893,316 in the last ninety days. 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.