Edgewise Therapeutics (NASDAQ:EWTX) Price Target Raised to $34.00

Edgewise Therapeutics (NASDAQ:EWTX) had its price target increased by JPMorgan Chase & Co. from $33.00 to $34.00 in a research note issued to investors on Friday,Benzinga reports. They currently have an overweight rating on the stock.

Several other brokerages also recently issued reports on EWTX. The Goldman Sachs Group started coverage on shares of Edgewise Therapeutics in a report on Thursday, September 25th. They set a “neutral” rating and a $20.00 price target for the company. Wedbush reduced their target price 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, November 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Edgewise Therapeutics in a research report on Wednesday, October 8th. Royal Bank Of Canada raised their price target on shares of Edgewise Therapeutics from $49.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. Finally, Raymond James Financial started coverage on Edgewise Therapeutics in a research report on Wednesday, July 30th. They set a “strong-buy” rating and a $46.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $38.33.

Edgewise Therapeutics Trading Up 11.4%

Shares of Edgewise Therapeutics stock opened at $22.75 on Friday. The stock has a market capitalization of $2.41 billion, a price-to-earnings ratio of -14.40 and a beta of 0.30. Edgewise Therapeutics has a twelve month low of $10.60 and a twelve month high of $35.50. The business’s 50 day simple moving average is $16.11 and its 200-day simple moving average is $14.92.

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

Insider Transactions at Edgewise Therapeutics

In related news, Director Jonathan C. Fox acquired 10,700 shares of the stock in a transaction that occurred on Tuesday, November 11th. The shares were acquired at an average price of $18.64 per share, for a total transaction of $199,448.00. Following the completion of the purchase, 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 purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Alan J. Russell sold 100,000 shares of the business’s stock in a transaction that occurred 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 sale, the insider directly owned 23,400 shares in the company, valued at approximately $494,208. The trade was a 81.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 23.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Edgewise Therapeutics

Several hedge funds have recently modified their holdings of EWTX. Jones Financial Companies Lllp acquired a new stake in shares of Edgewise Therapeutics in the first quarter valued at $47,000. Bessemer Group Inc. raised its position in Edgewise Therapeutics by 1,170.3% in the third quarter. Bessemer Group Inc. now owns 2,350 shares of the company’s stock worth $38,000 after acquiring an additional 2,165 shares in the last quarter. Allostery Investments LP acquired a new stake in Edgewise Therapeutics in the 1st quarter valued at about $66,000. Caitong International Asset Management Co. Ltd boosted its position in shares of Edgewise Therapeutics by 55.6% during the 1st 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. Finally, Canada Pension Plan Investment Board bought a new position in shares of Edgewise Therapeutics during the 2nd quarter valued at about $45,000.

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.