What is Wedbush’s Forecast for EWTX FY2029 Earnings?

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) – Investment analysts at Wedbush reduced their FY2029 earnings per share (EPS) estimates for Edgewise Therapeutics in a research note issued on Thursday, May 8th. Wedbush analyst L. Chico now anticipates that the company will post earnings of $3.98 per share for the year, down from their prior forecast of $3.99. Wedbush currently has a “Outperform” rating and a $43.00 target price on the stock. The consensus estimate for Edgewise Therapeutics’ current full-year earnings is ($1.45) per share.

A number of other research firms also recently weighed in on EWTX. Royal Bank of Canada dropped their target price on Edgewise Therapeutics from $56.00 to $52.00 and set an “outperform” rating for the company in a research report on Thursday, April 3rd. Scotiabank lowered Edgewise Therapeutics from a “sector outperform” rating to a “sector perform” rating and cut their target price for the company from $50.00 to $14.00 in a research note on Wednesday, April 2nd. Piper Sandler reissued an “overweight” rating and issued a $51.00 target price on shares of Edgewise Therapeutics in a research note on Wednesday, April 2nd. Stifel Nicolaus began coverage on Edgewise Therapeutics in a research note on Wednesday, January 22nd. They issued a “hold” rating and a $30.00 target price on the stock. Finally, Guggenheim began coverage on Edgewise Therapeutics in a research note on Wednesday, April 30th. They issued a “buy” rating and a $41.00 target price on the stock. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $40.22.

Edgewise Therapeutics Stock Up 0.5%

EWTX stock opened at $14.89 on Monday. The company has a market cap of $1.56 billion, a P/E ratio of -9.93 and a beta of 0.36. Edgewise Therapeutics has a twelve month low of $10.60 and a twelve month high of $38.12. The business has a fifty day moving average of $17.75 and a 200-day moving average of $25.29.

Edgewise Therapeutics (NASDAQ:EWTX) last released its earnings results on Thursday, May 8th. The company reported ($0.43) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.02.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. American Century Companies Inc. grew its holdings in shares of Edgewise Therapeutics by 1.2% during the first quarter. American Century Companies Inc. now owns 779,766 shares of the company’s stock worth $17,155,000 after buying an additional 9,413 shares in the last quarter. Aberdeen Group plc grew its stake in Edgewise Therapeutics by 75.8% in the first quarter. Aberdeen Group plc now owns 313,025 shares of the company’s stock valued at $6,887,000 after purchasing an additional 134,982 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its stake in Edgewise Therapeutics by 55.6% in the first quarter. Caitong International Asset Management Co. Ltd now owns 3,194 shares of the company’s stock valued at $70,000 after purchasing an additional 1,141 shares in the last quarter. Nuveen LLC bought a new position in Edgewise Therapeutics in the first quarter valued at approximately $4,457,000. Finally, Invesco Ltd. grew its stake in Edgewise Therapeutics by 10.8% in the first quarter. Invesco Ltd. now owns 48,130 shares of the company’s stock valued at $1,059,000 after purchasing an additional 4,695 shares in the last quarter.

Insider Transactions at Edgewise Therapeutics

In other news, Director Orbimed Advisors Llc acquired 496,771 shares of the firm’s stock in a transaction that occurred on Thursday, April 3rd. The stock was acquired at an average cost of $20.13 per share, for a total transaction of $10,000,000.23. Following the completion of the acquisition, the director now owns 14,809,075 shares in the company, valued at $298,106,679.75. This represents a 3.47% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CMO Joanne M. Donovan sold 5,187 shares of the stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $16.45, for a total value of $85,326.15. Following the transaction, the chief marketing officer now owns 21,588 shares of the company’s stock, valued at approximately $355,122.60. The trade was a 19.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,258 shares of company stock valued at $234,544 over the last 90 days. 24.11% of the stock is owned by company 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.