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

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) has received an average recommendation of “Moderate Buy” from the eight research firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $45.38.

A number of research analysts have issued reports on the stock. Evercore ISI upped their target price on shares of Edgewise Therapeutics from $45.00 to $50.00 and gave the company an “outperform” rating in a research report on Tuesday, December 17th. Scotiabank started coverage on shares of Edgewise Therapeutics in a report on Friday, March 7th. They issued a “sector outperform” rating and a $50.00 price objective on the stock. Truist Financial raised their price objective on shares of Edgewise Therapeutics from $33.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Royal Bank of Canada reiterated an “outperform” rating and set a $56.00 target price on shares of Edgewise Therapeutics in a research report on Tuesday, March 4th. Finally, Stifel Nicolaus assumed coverage on Edgewise Therapeutics in a research report on Wednesday, January 22nd. They issued a “hold” rating and a $30.00 price target on the stock.

Edgewise Therapeutics Stock Performance

NASDAQ:EWTX opened at $22.26 on Thursday. The company has a market cap of $2.12 billion, a price-to-earnings ratio of -14.84 and a beta of 0.22. The stock’s fifty day moving average price is $26.40 and its two-hundred day moving average price is $28.43. Edgewise Therapeutics has a 52-week low of $14.90 and a 52-week high of $38.12.

Edgewise Therapeutics (NASDAQ:EWTX) last released its earnings results on Monday, March 3rd. The company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.03). On average, equities analysts predict that Edgewise Therapeutics will post -1.45 EPS for the current fiscal year.

Insider Activity

In other Edgewise Therapeutics news, CMO Joanne M. Donovan sold 25,000 shares of Edgewise Therapeutics stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $27.63, for a total value of $690,750.00. Following the sale, the chief marketing officer now owns 16,358 shares of the company’s stock, valued at $451,971.54. This trade represents a 60.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Alan J. Russell sold 100,000 shares of the company’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $27.37, for a total value of $2,737,000.00. Following the transaction, the insider now directly owns 14,863 shares of the company’s stock, valued at $406,800.31. This represents a 87.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 134,836 shares of company stock valued at $3,723,245 in the last quarter. Company insiders own 24.11% of the company’s stock.

Institutional Investors Weigh In On Edgewise Therapeutics

Institutional investors have recently bought and sold shares of the company. Diadema Partners LP acquired a new stake in shares of Edgewise Therapeutics in the fourth quarter valued at approximately $36,000. GF Fund Management CO. LTD. acquired a new stake in Edgewise Therapeutics in the 4th quarter valued at $53,000. Aquatic Capital Management LLC bought a new stake in Edgewise Therapeutics during the 4th quarter worth about $77,000. Tower Research Capital LLC TRC boosted its stake in shares of Edgewise Therapeutics by 1,097.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,676 shares of the company’s stock worth $98,000 after buying an additional 3,369 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of Edgewise Therapeutics in the 4th quarter valued at about $103,000.

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.