Edgewise Therapeutics (NASDAQ:EWTX) Given Overweight Rating at Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of Edgewise Therapeutics (NASDAQ:EWTX) in a research note released on Wednesday,Benzinga reports. Piper Sandler currently has a $51.00 price objective on the stock.

Other equities research analysts have also recently issued reports about the stock. Evercore ISI raised their target price on shares of Edgewise Therapeutics from $45.00 to $50.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 17th. Stifel Nicolaus started coverage on shares of Edgewise Therapeutics in a report on Wednesday, January 22nd. They issued a “hold” rating and a $30.00 price objective for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $56.00 target price on shares of Edgewise Therapeutics in a report on Tuesday, March 4th. Finally, Scotiabank cut Edgewise Therapeutics from a “sector outperform” rating to a “sector perform” rating and set a $14.00 target price for the company. in a research note on Wednesday. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Edgewise Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $40.88.

Edgewise Therapeutics Trading Down 22.9 %

Edgewise Therapeutics stock opened at $15.52 on Wednesday. The firm has a market cap of $1.48 billion, a P/E ratio of -10.35 and a beta of 0.22. Edgewise Therapeutics has a 1-year low of $12.18 and a 1-year high of $38.12. The firm has a 50-day moving average of $25.81 and a 200-day moving average of $28.55.

Edgewise Therapeutics (NASDAQ:EWTX) last released its quarterly earnings data on Monday, March 3rd. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.03). Research analysts forecast that Edgewise Therapeutics will post -1.45 earnings per share for the current fiscal year.

Insider Transactions at Edgewise Therapeutics

In other Edgewise Therapeutics news, CMO Joanne M. Donovan sold 25,000 shares of the business’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $27.63, for a total value of $690,750.00. Following the completion of the transaction, the chief marketing officer now owns 16,358 shares of the company’s stock, valued at approximately $451,971.54. The trade was a 60.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Alan J. Russell sold 1,200 shares of the company’s stock in a transaction dated 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 owns 14,863 shares in the company, valued at $447,822.19. This represents a 7.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,836 shares of company stock valued at $986,245 in the last quarter. 24.11% of the stock is owned by insiders.

Institutional Investors Weigh In On Edgewise Therapeutics

A number of large investors have recently added to or reduced their stakes in EWTX. Baker BROS. Advisors LP lifted its holdings in shares of Edgewise Therapeutics by 5.4% during the 4th quarter. Baker BROS. Advisors LP now owns 6,155,940 shares of the company’s stock valued at $164,364,000 after buying an additional 315,881 shares during the period. Janus Henderson Group PLC boosted its position in Edgewise Therapeutics by 9.3% in the fourth quarter. Janus Henderson Group PLC now owns 4,983,940 shares of the company’s stock worth $133,044,000 after purchasing an additional 425,421 shares during the last quarter. Paradigm Biocapital Advisors LP grew its stake in shares of Edgewise Therapeutics by 61.1% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 4,493,929 shares of the company’s stock valued at $119,988,000 after purchasing an additional 1,704,757 shares during the period. Braidwell LP increased its position in shares of Edgewise Therapeutics by 19.1% during the 4th quarter. Braidwell LP now owns 2,332,196 shares of the company’s stock valued at $62,270,000 after purchasing an additional 373,886 shares during the last quarter. Finally, Deerfield Management Company L.P. Series C lifted its stake in shares of Edgewise Therapeutics by 16.7% in the 4th quarter. Deerfield Management Company L.P. Series C now owns 2,078,509 shares of the company’s stock worth $55,496,000 after purchasing an additional 297,503 shares during the period.

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.