HC Wainwright Has Bearish Estimate for EWTX FY2028 Earnings

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) – Analysts at HC Wainwright dropped their FY2028 earnings estimates for Edgewise Therapeutics in a report issued on Tuesday, June 2nd. HC Wainwright analyst L. Egana-Gorrono now expects that the company will earn ($2.08) per share for the year, down from their prior forecast of ($2.05). HC Wainwright has a “Buy” rating and a $45.00 price target on the stock. The consensus estimate for Edgewise Therapeutics’ current full-year earnings is ($2.13) per share. HC Wainwright also issued estimates for Edgewise Therapeutics’ FY2029 earnings at ($1.17) EPS.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.46) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.04.

A number of other research analysts also recently weighed in on EWTX. Raymond James Financial restated a “strong-buy” rating and set a $66.00 price objective on shares of Edgewise Therapeutics in a research report on Monday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Edgewise Therapeutics in a research report on Monday, April 20th. Wedbush increased their price target on shares of Edgewise Therapeutics from $46.00 to $52.00 and gave the stock an “outperform” rating in a research report on Monday. Evercore reiterated an “outperform” rating and issued a $45.00 price target on shares of Edgewise Therapeutics in a research report on Thursday, February 26th. Finally, Truist Financial set a $52.00 price target on shares of Edgewise Therapeutics in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $44.22.

Edgewise Therapeutics Stock Down 2.7%

Shares of Edgewise Therapeutics stock opened at $36.26 on Thursday. The company has a market cap of $3.90 billion, a price-to-earnings ratio of -21.84 and a beta of 0.27. The company’s 50 day moving average is $33.24 and its 200 day moving average is $29.05. Edgewise Therapeutics has a twelve month low of $12.15 and a twelve month high of $40.76.

Insider Buying and Selling at Edgewise Therapeutics

In related news, CMO Joanne M. Donovan sold 50,000 shares of Edgewise Therapeutics stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $38.57, for a total transaction of $1,928,500.00. Following the transaction, the chief marketing officer owned 4,367 shares in the company, valued at approximately $168,435.19. The trade was a 91.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders have sold 83,892 shares of company stock worth $3,018,216. 21.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Orbimed Advisors LLC lifted its stake in shares of Edgewise Therapeutics by 3.3% during the 2nd quarter. Orbimed Advisors LLC now owns 15,518,492 shares of the company’s stock valued at $203,447,000 after buying an additional 496,771 shares in the last quarter. RA Capital Management L.P. lifted its stake in shares of Edgewise Therapeutics by 5.3% during the 3rd quarter. RA Capital Management L.P. now owns 10,428,437 shares of the company’s stock valued at $169,149,000 after buying an additional 525,804 shares in the last quarter. Paradigm Biocapital Advisors LP lifted its stake in shares of Edgewise Therapeutics by 6.0% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 6,541,210 shares of the company’s stock valued at $162,320,000 after buying an additional 371,079 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of Edgewise Therapeutics by 29.5% during the 1st quarter. Janus Henderson Group PLC now owns 5,915,556 shares of the company’s stock valued at $186,289,000 after buying an additional 1,348,706 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Edgewise Therapeutics by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 4,871,624 shares of the company’s stock valued at $120,889,000 after buying an additional 67,683 shares in the last quarter.

About Edgewise Therapeutics

Edgewise Therapeutics, Inc (NASDAQ: EWTX) is a clinical-stage biopharmaceutical company headquartered in Cambridge, Massachusetts, focused on the discovery and development of precision medicines for the treatment of rare diseases. The company leverages its expertise in small-molecule chemistry and ion channel biology to address severe, unmet medical needs, particularly in the areas of kidney disorders and neuromuscular diseases.

At the core of Edgewise’s pipeline is EWTX-101, a novel, orally available inhibitor of TRPC5, a calcium channel implicated in nephrotic syndromes such as focal segmental glomerulosclerosis (FSGS) and other proteinuric kidney diseases.