Edgewise Therapeutics’ (EWTX) Outperform Rating Reaffirmed at Wedbush

Wedbush reaffirmed their outperform rating on shares of Edgewise Therapeutics (NASDAQ:EWTX) in a research report sent to investors on Tuesday,Benzinga reports. They currently have a $32.00 price target on the stock.

Several other analysts also recently weighed in on the company. Stifel Nicolaus set a $25.00 price target on Edgewise Therapeutics in a research note on Thursday, February 26th. Wall Street Zen cut Edgewise Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. HC Wainwright raised Edgewise Therapeutics to a “strong-buy” rating in a report on Thursday, February 26th. Evercore reiterated an “outperform” rating and issued a $45.00 target price on shares of Edgewise Therapeutics in a research report on Thursday, February 26th. Finally, Raymond James Financial set a $46.00 price target on shares of Edgewise Therapeutics in a research report on Tuesday, March 10th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $37.36.

Edgewise Therapeutics Trading Up 2.4%

Shares of Edgewise Therapeutics stock opened at $30.50 on Tuesday. The firm’s 50 day simple moving average is $28.81 and its two-hundred day simple moving average is $22.55. The firm has a market capitalization of $3.27 billion, a price-to-earnings ratio of -18.71 and a beta of 0.26. Edgewise Therapeutics has a 12-month low of $10.60 and a 12-month high of $31.82.

Edgewise Therapeutics (NASDAQ:EWTX) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.04). On average, sell-side analysts predict that Edgewise Therapeutics will post -1.45 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Badreddin Edris sold 115,471 shares of the stock in a transaction 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 completion of the sale, the director owned 19,820 shares in the company, valued at $583,500.80. This represents a 85.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 23.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Edgewise Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in EWTX. Seven Fleet Capital Management LP purchased a new position in shares of Edgewise Therapeutics during the fourth quarter worth about $50,000. Jones Financial Companies Lllp acquired a new stake in Edgewise Therapeutics during the 1st quarter worth approximately $47,000. Bessemer Group Inc. lifted its position in Edgewise Therapeutics by 1,170.3% during the 3rd quarter. Bessemer Group Inc. now owns 2,350 shares of the company’s stock worth $38,000 after acquiring an additional 2,165 shares during the period. Steward Partners Investment Advisory LLC grew its stake in shares of Edgewise Therapeutics by 23.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,854 shares of the company’s stock valued at $71,000 after purchasing an additional 550 shares during the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Edgewise Therapeutics in the second quarter valued at approximately $45,000.

About Edgewise Therapeutics

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.