Edgewise Therapeutics (NASDAQ:EWTX) PT Raised to $32.00

Edgewise Therapeutics (NASDAQ:EWTX) had its target price increased by equities research analysts at Royal Bank of Canada from $28.00 to $32.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price would suggest a potential upside of 104.47% from the stock’s current price.

A number of other equities analysts have also recently weighed in on the company. Truist Financial reissued a “buy” rating and issued a $25.00 price target on shares of Edgewise Therapeutics in a research note on Wednesday, April 17th. Piper Sandler began coverage on Edgewise Therapeutics in a research note on Thursday, March 7th. They issued an “overweight” rating and a $48.00 price target on the stock. Finally, Wedbush reissued an “outperform” rating and issued a $26.00 price target on shares of Edgewise Therapeutics in a research note on Tuesday, April 16th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, Edgewise Therapeutics currently has an average rating of “Buy” and a consensus target price of $31.20.

Edgewise Therapeutics Trading Up 3.8 %

Shares of EWTX opened at $15.65 on Monday. The business’s 50-day moving average price is $16.90 and its 200 day moving average price is $12.20. The stock has a market capitalization of $1.46 billion, a P/E ratio of -9.91 and a beta of 0.14. Edgewise Therapeutics has a 1-year low of $5.12 and a 1-year high of $20.69.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its quarterly earnings results 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). On average, research analysts predict that Edgewise Therapeutics will post -1.76 earnings per share for the current year.

Insider Buying and Selling at Edgewise Therapeutics

In other Edgewise Therapeutics news, General Counsel John R. Moore sold 8,029 shares of Edgewise Therapeutics 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Behrad Derakhshan sold 4,600 shares of Edgewise Therapeutics stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $20.01, for a total transaction of $92,046.00. Following the completion of the sale, the insider now directly owns 7,020 shares in the company, valued at approximately $140,470.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel John R. Moore sold 8,029 shares of Edgewise Therapeutics stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $20.01, for a total value of $160,660.29. The disclosure for this sale can be found here. Insiders have sold a total of 30,622 shares of company stock valued at $612,566 in the last 90 days. 31.95% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Edgewise Therapeutics

Several institutional investors have recently made changes to their positions in EWTX. Frazier Life Sciences Management L.P. lifted its holdings 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 valued at $29,179,000 after buying an additional 1,818,181 shares during the last quarter. Perceptive Advisors LLC acquired a new stake in shares of Edgewise Therapeutics during the 4th quarter valued at about $6,078,000. Vontobel Holding Ltd. acquired a new stake in shares of Edgewise Therapeutics during the 4th quarter valued at about $3,586,000. Sectoral Asset Management Inc. acquired a new stake in shares of Edgewise Therapeutics during the 4th quarter valued at about $3,586,000. Finally, Parkman Healthcare Partners LLC lifted its holdings in shares of Edgewise Therapeutics by 37.7% during the 4th quarter. Parkman Healthcare Partners LLC now owns 651,625 shares of the company’s stock valued at $7,129,000 after buying an additional 178,313 shares during the last quarter.

Edgewise Therapeutics Company Profile

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.