Edgewise Therapeutics (NASDAQ:EWTX) PT Raised to $31.00

Edgewise Therapeutics (NASDAQ:EWTX) had its price target increased by JPMorgan Chase & Co. from $30.00 to $31.00 in a report released on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 81.39% from the stock’s previous close.

A number of other brokerages have also recently issued reports on EWTX. Wedbush reaffirmed an “outperform” rating and set a $31.00 target price on shares of Edgewise Therapeutics in a research report on Wednesday, June 26th. Piper Sandler reaffirmed an “overweight” rating and issued a $48.00 price target on shares of Edgewise Therapeutics in a report on Monday, July 1st. Royal Bank of Canada reiterated an “outperform” rating and issued a $32.00 price objective on shares of Edgewise Therapeutics in a research report on Thursday, July 25th. Finally, Truist Financial reiterated a “buy” rating and set a $25.00 price objective on shares of Edgewise Therapeutics in a report on Wednesday, April 17th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $33.40.

Edgewise Therapeutics Stock Up 0.2 %

Shares of Edgewise Therapeutics stock opened at $17.09 on Monday. Edgewise Therapeutics has a fifty-two week low of $5.12 and a fifty-two week high of $23.50. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of -11.03 and a beta of 0.14. The business has a fifty day simple moving average of $18.53 and a 200-day simple moving average of $17.87.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its earnings results on Thursday, August 8th. The company reported ($0.34) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.02. Analysts anticipate that Edgewise Therapeutics will post -1.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Edgewise Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Quest Partners LLC increased its stake in shares of Edgewise Therapeutics by 156.9% in the second quarter. Quest Partners LLC now owns 1,742 shares of the company’s stock valued at $31,000 after buying an additional 1,064 shares during the period. Meeder Asset Management Inc. acquired a new stake in Edgewise Therapeutics in the second quarter valued at approximately $35,000. AJOVista LLC acquired a new stake in Edgewise Therapeutics in the fourth quarter valued at approximately $84,000. Ameritas Investment Partners Inc. grew its stake in Edgewise Therapeutics by 37.3% in the first quarter. Ameritas Investment Partners Inc. now owns 5,751 shares of the company’s stock valued at $105,000 after acquiring an additional 1,561 shares during the period. Finally, Arizona State Retirement System acquired a new stake in Edgewise Therapeutics in the second quarter valued at approximately $188,000.

About Edgewise Therapeutics

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.