Edgewise Therapeutics (NASDAQ:EWTX) Price Target Raised to $32.00

Edgewise Therapeutics (NASDAQ:EWTX) had its target price raised by Royal Bank of Canada from $28.00 to $32.00 in a research report released on Monday, Benzinga reports. The firm currently has an outperform rating on the stock.

Several other research firms also recently issued reports on EWTX. Wedbush reaffirmed an outperform rating and set a $26.00 price objective on shares of Edgewise Therapeutics in a report on Tuesday, April 16th. Piper Sandler started coverage on shares of Edgewise Therapeutics in a report on Thursday, March 7th. They set an overweight rating and a $48.00 price target for the company. Finally, Truist Financial reiterated a buy rating and issued a $25.00 price objective on shares of Edgewise Therapeutics in a research note on Wednesday, April 17th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of Buy and an average price target of $31.20.

Edgewise Therapeutics Price Performance

Shares of NASDAQ:EWTX opened at $15.08 on Monday. The stock has a market capitalization of $1.40 billion, a P/E ratio of -9.54 and a beta of 0.14. The business has a 50-day moving average of $16.96 and a two-hundred day moving average of $12.14. Edgewise Therapeutics has a fifty-two week low of $5.12 and a fifty-two week high of $20.69.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its quarterly earnings data on Thursday, February 22nd. The company reported ($0.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.03). As a group, research analysts expect that Edgewise Therapeutics will post -1.76 EPS for the current fiscal year.

Insider Buying and Selling at Edgewise Therapeutics

In other news, General Counsel John R. Moore sold 8,029 shares of Edgewise Therapeutics stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $20.01, for a total transaction of $160,660.29. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Behrad Derakhshan sold 4,600 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $20.01, for a total value of $92,046.00. Following the sale, the insider now owns 7,020 shares of the company’s stock, valued at $140,470.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel John R. Moore sold 8,029 shares of the stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $20.01, for a total transaction of $160,660.29. The disclosure for this sale can be found here. Insiders sold a total of 30,622 shares of company stock valued at $612,566 in the last quarter. Corporate insiders own 31.95% of the company’s stock.

Institutional Investors Weigh In On Edgewise Therapeutics

Large investors have recently modified their holdings of the stock. Frazier Life Sciences Management L.P. lifted its position in shares of Edgewise Therapeutics by 214.2% during the 4th quarter. Frazier Life Sciences Management L.P. now owns 2,667,203 shares of the company’s stock worth $29,179,000 after buying an additional 1,818,181 shares during the period. Parkman Healthcare Partners LLC lifted its holdings in shares of Edgewise Therapeutics by 37.7% during the fourth quarter. Parkman Healthcare Partners LLC now owns 651,625 shares of the company’s stock valued at $7,129,000 after acquiring an additional 178,313 shares during the period. Perceptive Advisors LLC acquired a new stake in shares of Edgewise Therapeutics in the 4th quarter valued at $6,078,000. Vontobel Holding Ltd. acquired a new stake in shares of Edgewise Therapeutics in the 4th quarter valued at $3,586,000. Finally, Sectoral Asset Management Inc. bought a new stake in shares of Edgewise Therapeutics in the 4th quarter worth about $3,586,000.

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.