Edgewise Therapeutics (NASDAQ:EWTX) Rating Reiterated by Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Edgewise Therapeutics (NASDAQ:EWTX) in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have a $32.00 price objective on the stock.

Several other analysts have also recently commented on EWTX. Wedbush reaffirmed an outperform rating and issued a $31.00 target price on shares of Edgewise Therapeutics in a research report on Friday, August 16th. JPMorgan Chase & Co. lifted their price objective on Edgewise Therapeutics from $30.00 to $31.00 and gave the company an overweight rating in a research report on Monday, August 12th. Finally, Piper Sandler reissued an overweight rating and set a $48.00 price objective on shares of Edgewise Therapeutics in a research report on Monday, July 1st. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of Buy and a consensus target price of $35.00.

Edgewise Therapeutics Stock Down 4.1 %

Shares of NASDAQ EWTX opened at $28.28 on Tuesday. The stock has a market capitalization of $2.64 billion, a price-to-earnings ratio of -18.25 and a beta of 0.15. The stock’s fifty day simple moving average is $18.99 and its 200 day simple moving average is $18.12. Edgewise Therapeutics has a 52-week low of $5.12 and a 52-week high of $30.00.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its earnings results on Thursday, August 8th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.02. As a group, analysts anticipate that Edgewise Therapeutics will post -1.48 earnings per share for the current year.

Institutional Trading of Edgewise Therapeutics

Several large investors have recently made changes to their positions in EWTX. RA Capital Management L.P. bought a new stake in shares of Edgewise Therapeutics during the 1st quarter worth about $162,502,000. Novo Holdings A S bought a new stake in Edgewise Therapeutics during the 2nd quarter valued at approximately $114,263,000. Baker BROS. Advisors LP boosted its stake in Edgewise Therapeutics by 87.6% during the 1st quarter. Baker BROS. Advisors LP now owns 5,840,059 shares of the company’s stock valued at $106,523,000 after purchasing an additional 2,727,273 shares during the period. Vanguard Group Inc. boosted its stake in Edgewise Therapeutics by 89.0% during the 1st quarter. Vanguard Group Inc. now owns 4,017,433 shares of the company’s stock valued at $73,278,000 after purchasing an additional 1,892,053 shares during the period. Finally, Frazier Life Sciences Management L.P. boosted its stake in Edgewise Therapeutics by 214.2% during the 4th quarter. Frazier Life Sciences Management L.P. now owns 2,667,203 shares of the company’s stock valued at $29,179,000 after purchasing an additional 1,818,181 shares during the period.

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.