Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) has been assigned an average recommendation of “Moderate Buy” from the eleven brokerages that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation, six have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $36.3636.

Several equities research analysts have commented on EWTX shares. Wall Street Zen lowered Edgewise Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. HC Wainwright raised shares of Edgewise Therapeutics to a “strong-buy” rating in a research note on Thursday, February 26th. JPMorgan Chase & Co. boosted their target price on shares of Edgewise Therapeutics from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Friday, November 14th. Piper Sandler reiterated an “overweight” rating on shares of Edgewise Therapeutics in a research note on Monday, February 9th. Finally, Raymond James Financial set a $46.00 price objective on shares of Edgewise Therapeutics in a research report on Tuesday.

Insider Transactions at Edgewise Therapeutics

In other news, Director Badreddin Edris sold 115,471 shares of the firm’s stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $29.44, for a total transaction of $3,399,466.24. Following the transaction, the director directly owned 19,820 shares of the company’s stock, valued at approximately $583,500.80. This trade represents a 85.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 23.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Edgewise Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Edgewise Therapeutics by 6.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,776 shares of the company’s stock valued at $963,000 after purchasing an additional 2,463 shares during the last quarter. Jones Financial Companies Lllp bought a new position in Edgewise Therapeutics in the 1st quarter valued at approximately $47,000. Goldman Sachs Group Inc. lifted its stake in Edgewise Therapeutics by 5.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 366,644 shares of the company’s stock valued at $8,066,000 after purchasing an additional 19,753 shares during the last quarter. Strs Ohio acquired a new stake in Edgewise Therapeutics in the first quarter valued at approximately $84,000. Finally, Teacher Retirement System of Texas boosted its position in Edgewise Therapeutics by 10.7% in the second quarter. Teacher Retirement System of Texas now owns 12,646 shares of the company’s stock valued at $166,000 after buying an additional 1,225 shares in the last quarter.

Edgewise Therapeutics Price Performance

Shares of NASDAQ:EWTX opened at $30.99 on Thursday. Edgewise Therapeutics has a one year low of $10.60 and a one year high of $31.82. The stock has a market cap of $3.32 billion, a price-to-earnings ratio of -19.01 and a beta of 0.26. The company has a 50 day moving average of $28.32 and a 200-day moving average of $22.06.

Edgewise Therapeutics (NASDAQ:EWTX) last announced its quarterly earnings results on Thursday, February 26th. The company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.04). Equities research analysts anticipate that Edgewise Therapeutics will post -1.45 earnings per share for the current year.

Edgewise Therapeutics Company Profile

Edgewise Therapeutics, Inc (NASDAQ: EWTX) is a clinical-stage biopharmaceutical company headquartered in Cambridge, Massachusetts, focused on the discovery and development of precision medicines for the treatment of rare diseases. The company leverages its expertise in small-molecule chemistry and ion channel biology to address severe, unmet medical needs, particularly in the areas of kidney disorders and neuromuscular diseases.

At the core of Edgewise’s pipeline is EWTX-101, a novel, orally available inhibitor of TRPC5, a calcium channel implicated in nephrotic syndromes such as focal segmental glomerulosclerosis (FSGS) and other proteinuric kidney diseases.