Research Analysts Offer Predictions for EWTX FY2029 Earnings

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) – Investment analysts at HC Wainwright reduced their FY2029 EPS estimates for shares of Edgewise Therapeutics in a note issued to investors on Friday, November 7th. HC Wainwright analyst J. Pantginis now anticipates that the company will earn $3.25 per share for the year, down from their prior estimate of $3.47. The consensus estimate for Edgewise Therapeutics’ current full-year earnings is ($1.45) per share.

Other equities research analysts also recently issued research reports about the company. Royal Bank Of Canada lifted their target price on Edgewise Therapeutics from $49.00 to $50.00 and gave the stock an “outperform” rating in a report on Friday. The Goldman Sachs Group assumed coverage on shares of Edgewise Therapeutics in a research report on Thursday, September 25th. They set a “neutral” rating and a $20.00 price target on the stock. Wedbush dropped their price objective on shares of Edgewise Therapeutics from $35.00 to $32.00 and set an “outperform” rating for the company in a research note on Friday. Weiss Ratings reissued a “sell (d-)” rating on shares of Edgewise Therapeutics in a report on Wednesday, October 8th. Finally, Raymond James Financial began coverage on shares of Edgewise Therapeutics in a report on Wednesday, July 30th. They set a “strong-buy” rating and a $46.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $38.00.

Edgewise Therapeutics Price Performance

EWTX opened at $17.16 on Monday. The business has a fifty day simple moving average of $15.51 and a 200 day simple moving average of $14.73. Edgewise Therapeutics has a 1 year low of $10.60 and a 1 year high of $38.12. The company has a market capitalization of $1.82 billion, a PE ratio of -10.86 and a beta of 0.30.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.39) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.01.

Institutional Investors Weigh In On Edgewise Therapeutics

A number of large investors have recently modified their holdings of the business. GSA Capital Partners LLP boosted its holdings in shares of Edgewise Therapeutics by 315.2% in the 3rd quarter. GSA Capital Partners LLP now owns 113,243 shares of the company’s stock valued at $1,837,000 after purchasing an additional 85,967 shares in the last quarter. Aberdeen Group plc lifted its position in shares of Edgewise Therapeutics by 39.8% during the 3rd quarter. Aberdeen Group plc now owns 619,878 shares of the company’s stock worth $10,054,000 after buying an additional 176,559 shares during the last quarter. Bessemer Group Inc. lifted its position in shares of 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 buying an additional 2,165 shares during the last quarter. Optimize Financial Inc acquired a new stake in Edgewise Therapeutics in the third quarter valued at about $443,000. Finally, Envestnet Asset Management Inc. bought a new position in Edgewise Therapeutics in the third quarter valued at about $176,000.

Insider Activity

In related news, insider Alan J. Russell sold 100,000 shares of the stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $14.60, for a total transaction of $1,460,000.00. Following the sale, the insider owned 23,400 shares in the company, valued at approximately $341,640. This trade represents a 81.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Kevin Koch sold 7,972 shares of Edgewise Therapeutics stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $13.39, for a total transaction of $106,745.08. Following the completion of the transaction, the chief executive officer directly owned 30,615 shares in the company, valued at $409,934.85. This trade represents a 20.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 116,267 shares of company stock valued at $1,677,815 in the last 90 days. 23.20% of the stock is owned by corporate insiders.

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.