Brokerages Set Edgewise Therapeutics, Inc. (NASDAQ:EWTX) PT at $37.27

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) has been given a consensus recommendation of “Moderate Buy” by the twelve analysts that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $37.2727.

Several equities research analysts have commented on the company. Wall Street Zen upgraded Edgewise Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, November 22nd. Royal Bank Of Canada raised their target price on Edgewise Therapeutics from $49.00 to $50.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. Wedbush dropped their price target on Edgewise Therapeutics from $35.00 to $32.00 and set an “outperform” rating for the company in a research report on Friday, November 7th. JPMorgan Chase & Co. increased their price objective on shares of Edgewise Therapeutics from $33.00 to $34.00 and gave the company an “overweight” rating in a report on Friday, November 14th. Finally, The Goldman Sachs Group began coverage on Edgewise Therapeutics in a research note on Thursday, September 25th. They set a “neutral” rating and a $20.00 price objective on the stock.

Edgewise Therapeutics Trading Up 1.7%

NASDAQ EWTX opened at $23.71 on Tuesday. The stock has a 50-day moving average of $18.62 and a 200 day moving average of $15.75. Edgewise Therapeutics has a twelve month low of $10.60 and a twelve month high of $35.50. The stock has a market capitalization of $2.51 billion, a price-to-earnings ratio of -15.01 and a beta of 0.26.

Edgewise Therapeutics (NASDAQ:EWTX) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.39) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.01. Equities analysts predict that Edgewise Therapeutics will post -1.45 EPS for the current fiscal year.

Insider Buying and Selling at Edgewise Therapeutics

In other news, insider Alan J. Russell sold 100,000 shares of the company’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $21.12, for a total value of $2,112,000.00. Following the transaction, the insider owned 23,400 shares of the company’s stock, valued at $494,208. This represents a 81.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jonathan C. Fox bought 10,700 shares of the firm’s stock in a transaction on Tuesday, November 11th. The stock was bought at an average cost of $18.64 per share, for a total transaction of $199,448.00. Following the transaction, the director directly owned 23,702 shares of the company’s stock, valued at $441,805.28. The trade was a 82.30% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 23.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Aberdeen Group plc lifted its position in shares of Edgewise Therapeutics by 75.8% during the 1st quarter. Aberdeen Group plc now owns 313,025 shares of the company’s stock worth $6,887,000 after purchasing an additional 134,982 shares during the last quarter. Deutsche Bank AG increased its holdings in shares of Edgewise Therapeutics by 36.3% in the 1st quarter. Deutsche Bank AG now owns 376,060 shares of the company’s stock valued at $8,273,000 after acquiring an additional 100,223 shares during the last quarter. Eventide Asset Management LLC acquired a new stake in Edgewise Therapeutics during the first quarter worth approximately $12,503,000. MPM Bioimpact LLC lifted its position in Edgewise Therapeutics by 2.4% in the first quarter. MPM Bioimpact LLC now owns 1,105,444 shares of the company’s stock valued at $24,320,000 after acquiring an additional 26,128 shares during the last quarter. Finally, EFG Asset Management North America Corp. lifted its holdings in shares of Edgewise Therapeutics by 152.5% in the 1st quarter. EFG Asset Management North America Corp. now owns 104,386 shares of the company’s stock valued at $2,297,000 after purchasing an additional 63,048 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.