Wedbush Weighs in on Edgewise Therapeutics, Inc.’s Q1 2023 Earnings (NASDAQ:EWTX)

Edgewise Therapeutics, Inc. (NASDAQ:EWTXGet Rating) – Equities research analysts at Wedbush issued their Q1 2023 EPS estimates for shares of Edgewise Therapeutics in a research note issued on Wednesday, May 11th. Wedbush analyst L. Chico expects that the company will earn ($0.49) per share for the quarter. Wedbush also issued estimates for Edgewise Therapeutics’ Q2 2023 earnings at ($0.51) EPS, Q3 2023 earnings at ($0.50) EPS and Q4 2023 earnings at ($0.52) EPS.

A number of other equities analysts have also recently commented on the stock. Zacks Investment Research raised shares of Edgewise Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 1st. The Goldman Sachs Group assumed coverage on shares of Edgewise Therapeutics in a report on Friday, January 28th. They set a “neutral” rating for the company. Royal Bank of Canada assumed coverage on shares of Edgewise Therapeutics in a report on Wednesday, April 13th. They set an “outperform” rating and a $31.00 price objective for the company. JPMorgan Chase & Co. decreased their price objective on shares of Edgewise Therapeutics from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Monday, February 14th. Finally, SVB Leerink reiterated an “outperform” rating on shares of Edgewise Therapeutics in a report on Monday, April 25th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Edgewise Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $29.67.

Shares of EWTX stock traded up $0.35 during trading hours on Friday, reaching $7.82. 262 shares of the stock were exchanged, compared to its average volume of 191,480. Edgewise Therapeutics has a 12-month low of $6.93 and a 12-month high of $29.98. The company’s 50-day moving average price is $9.30 and its 200-day moving average price is $13.83.

Edgewise Therapeutics (NASDAQ:EWTXGet Rating) last released its quarterly earnings results on Wednesday, May 11th. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.02).

Several large investors have recently bought and sold shares of EWTX. Citigroup Inc. raised its holdings in shares of Edgewise Therapeutics by 155.0% in the 3rd quarter. Citigroup Inc. now owns 1,497 shares of the company’s stock valued at $25,000 after purchasing an additional 910 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Edgewise Therapeutics by 149.4% in the 4th quarter. Legal & General Group Plc now owns 4,651 shares of the company’s stock valued at $71,000 after purchasing an additional 2,786 shares in the last quarter. Sfmg LLC bought a new stake in shares of Edgewise Therapeutics in the 1st quarter valued at about $98,000. Virtus ETF Advisers LLC bought a new stake in shares of Edgewise Therapeutics in the 4th quarter valued at about $131,000. Finally, Metropolitan Life Insurance Co NY bought a new stake in shares of Edgewise Therapeutics in the 4th quarter valued at about $170,000.

Edgewise Therapeutics Company Profile (Get Rating)

Edgewise Therapeutics, Inc, a biopharmaceutical company, develops small molecule therapies for musculoskeletal diseases. The Company's lead product candidate, EDG-5506, is an orally administered small molecule designed to address the root cause of dystrophinopathies including Duchenne muscular dystrophy and Becker muscular dystrophy which has completed Phase 1 clinical trial.

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Earnings History and Estimates for Edgewise Therapeutics (NASDAQ:EWTX)

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