Scotiabank Begins Coverage on Edgewise Therapeutics (NASDAQ:EWTX)

Research analysts at Scotiabank began coverage on shares of Edgewise Therapeutics (NASDAQ:EWTXGet Free Report) in a research report issued to clients and investors on Friday, MarketBeat reports. The brokerage set a “sector outperform” rating and a $50.00 price target on the stock. Scotiabank’s price target indicates a potential upside of 78.51% from the stock’s previous close.

A number of other analysts also recently weighed in on EWTX. Truist Financial boosted their target price on shares of Edgewise Therapeutics from $33.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Royal Bank of Canada restated an “outperform” rating and set a $56.00 price objective on shares of Edgewise Therapeutics in a research report on Tuesday, March 4th. Evercore ISI lifted their target price on Edgewise Therapeutics from $45.00 to $50.00 and gave the stock an “outperform” rating in a report on Tuesday, December 17th. Stifel Nicolaus initiated coverage on Edgewise Therapeutics in a report on Wednesday, January 22nd. They set a “hold” rating and a $30.00 price target on the stock. Finally, Wedbush boosted their price objective on shares of Edgewise Therapeutics from $44.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $45.38.

Read Our Latest Research Report on Edgewise Therapeutics

Edgewise Therapeutics Trading Down 0.4 %

NASDAQ:EWTX opened at $28.01 on Friday. The business’s 50-day moving average is $26.77 and its 200 day moving average is $27.88. Edgewise Therapeutics has a 12 month low of $14.90 and a 12 month high of $38.12. The company has a market capitalization of $2.67 billion, a P/E ratio of -18.67 and a beta of 0.22.

Edgewise Therapeutics (NASDAQ:EWTXGet Free Report) last issued its quarterly earnings data on Monday, March 3rd. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.03). On average, research analysts forecast that Edgewise Therapeutics will post -1.45 earnings per share for the current year.

Insider Transactions at Edgewise Therapeutics

In other news, insider Alan J. Russell sold 1,200 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $30.13, for a total transaction of $36,156.00. Following the transaction, the insider now directly owns 14,863 shares of the company’s stock, valued at approximately $447,822.19. This trade represents a 7.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Kevin Koch sold 8,636 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $30.03, for a total value of $259,339.08. Following the completion of the sale, the chief executive officer now owns 14,478 shares of the company’s stock, valued at $434,774.34. The trade was a 37.36 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 164,545 shares of company stock worth $4,605,305. 24.11% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Edgewise Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the company. US Bancorp DE increased its stake in shares of Edgewise Therapeutics by 12,452.9% during the third quarter. US Bancorp DE now owns 8,536 shares of the company’s stock valued at $228,000 after buying an additional 8,468 shares during the period. Quantum Private Wealth LLC grew its holdings in Edgewise Therapeutics by 10.0% during the 3rd quarter. Quantum Private Wealth LLC now owns 73,424 shares of the company’s stock worth $1,960,000 after acquiring an additional 6,650 shares in the last quarter. Quest Partners LLC increased its position in Edgewise Therapeutics by 418.7% during the 3rd quarter. Quest Partners LLC now owns 9,035 shares of the company’s stock valued at $241,000 after purchasing an additional 7,293 shares during the period. Meeder Asset Management Inc. raised its holdings in shares of Edgewise Therapeutics by 69.9% in the 3rd quarter. Meeder Asset Management Inc. now owns 3,307 shares of the company’s stock valued at $88,000 after purchasing an additional 1,361 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new stake in shares of Edgewise Therapeutics in the 3rd quarter worth approximately $531,000.

About Edgewise Therapeutics

(Get Free Report)

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.

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Analyst Recommendations for Edgewise Therapeutics (NASDAQ:EWTX)

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