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

Shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) have earned a consensus rating of “Moderate Buy” from the eight brokerages that are covering the company, 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 1-year price target among brokerages that have issued ratings on the stock in the last year is $45.38.

Several equities research analysts recently weighed in on the stock. Scotiabank assumed coverage on shares of Edgewise Therapeutics in a research report on Friday, March 7th. They set a “sector outperform” rating and a $50.00 price objective for the company. Stifel Nicolaus initiated coverage on Edgewise Therapeutics in a research report on Wednesday, January 22nd. They issued a “hold” rating and a $30.00 target price for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $56.00 price target on shares of Edgewise Therapeutics in a report on Tuesday, March 4th. Finally, Evercore ISI upped their target price on Edgewise Therapeutics from $45.00 to $50.00 and gave the company an “outperform” rating in a report on Tuesday, December 17th.

Edgewise Therapeutics Trading Down 0.7 %

Edgewise Therapeutics stock opened at $23.27 on Thursday. The company has a market capitalization of $2.22 billion, a price-to-earnings ratio of -15.51 and a beta of 0.22. Edgewise Therapeutics has a 12 month low of $14.90 and a 12 month high of $38.12. The stock’s 50 day moving average is $26.27 and its 200-day moving average is $28.52.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its quarterly earnings data on Monday, March 3rd. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.03). As a group, equities research analysts predict that Edgewise Therapeutics will post -1.45 earnings per share for the current fiscal year.

Insider Buying and Selling at Edgewise Therapeutics

In related news, CEO Kevin Koch sold 8,636 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $30.03, for a total value of $259,339.08. Following the sale, the chief executive officer now owns 14,478 shares in the company, valued at $434,774.34. This represents a 37.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CMO Joanne M. Donovan sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $27.63, for a total value of $690,750.00. Following the completion of the transaction, the chief marketing officer now owns 16,358 shares in the company, valued at $451,971.54. This represents a 60.45 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 134,836 shares of company stock valued at $3,723,245. Corporate 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 EWTX. Baker BROS. Advisors LP lifted its position in shares of Edgewise Therapeutics by 5.4% during the fourth quarter. Baker BROS. Advisors LP now owns 6,155,940 shares of the company’s stock valued at $164,364,000 after purchasing an additional 315,881 shares in the last quarter. Janus Henderson Group PLC increased its stake in Edgewise Therapeutics by 9.3% in the 4th quarter. Janus Henderson Group PLC now owns 4,983,940 shares of the company’s stock valued at $133,044,000 after buying an additional 425,421 shares during the last quarter. Paradigm Biocapital Advisors LP lifted its position in shares of Edgewise Therapeutics by 61.1% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 4,493,929 shares of the company’s stock worth $119,988,000 after buying an additional 1,704,757 shares in the last quarter. Braidwell LP boosted its stake in shares of Edgewise Therapeutics by 19.1% in the 4th quarter. Braidwell LP now owns 2,332,196 shares of the company’s stock worth $62,270,000 after buying an additional 373,886 shares during the last quarter. Finally, Deerfield Management Company L.P. Series C grew its holdings in shares of Edgewise Therapeutics by 16.7% in the fourth quarter. Deerfield Management Company L.P. Series C now owns 2,078,509 shares of the company’s stock valued at $55,496,000 after acquiring an additional 297,503 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.