FY2024 Earnings Estimate for EWTX Issued By Leerink Partnrs

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) – Equities researchers at Leerink Partnrs increased their FY2024 earnings per share (EPS) estimates for Edgewise Therapeutics in a research report issued on Tuesday, November 12th. Leerink Partnrs analyst J. Schwartz now expects 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.

A number of other equities research analysts also recently issued reports on EWTX. JPMorgan Chase & Co. increased their price target on Edgewise Therapeutics from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Monday, August 12th. Truist Financial boosted their price target on Edgewise Therapeutics from $25.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Piper Sandler increased their price objective on shares of Edgewise Therapeutics from $48.00 to $51.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Wedbush boosted their target price on shares of Edgewise Therapeutics from $44.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $32.00 price target on shares of Edgewise Therapeutics in a research report on Tuesday, September 17th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $38.40.

Edgewise Therapeutics Price Performance

Shares of EWTX opened at $31.44 on Friday. The company’s 50-day moving average is $29.52 and its 200-day moving average is $22.33. The firm 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.

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

Institutional Inflows and Outflows

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

Insider Transactions at Edgewise Therapeutics

In other news, insider Alan J. Russell sold 75,000 shares of Edgewise Therapeutics stock in a transaction on Friday, September 20th. The stock was sold at an average price of $28.27, for a total transaction of $2,120,250.00. Following the sale, the insider now directly owns 12,719 shares in the company, valued at $359,566.13. The trade was a 85.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO R Michael Carruthers sold 125,092 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $28.57, for a total transaction of $3,573,878.44. Following the transaction, the chief financial officer now owns 6,904 shares of the company’s stock, valued at approximately $197,247.28. The trade was a 94.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 278,176 shares of company stock valued at $7,893,316 over the last three months. Corporate 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.