Edgewise Therapeutics (NASDAQ:EWTX) Given New $45.00 Price Target at Wedbush

Edgewise Therapeutics (NASDAQ:EWTX) had its price objective upped by Wedbush from $44.00 to $45.00 in a report issued on Friday morning,Benzinga reports. They currently have an outperform rating on the stock.

EWTX has been the subject of several other research reports. JPMorgan Chase & Co. boosted their price target on Edgewise Therapeutics from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Monday, August 12th. Piper Sandler increased their target price on shares of Edgewise Therapeutics from $48.00 to $51.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Royal Bank of Canada restated an “outperform” rating and set a $32.00 target price on shares of Edgewise Therapeutics in a research note on Tuesday, September 17th. Finally, Truist Financial upped their price target on shares of Edgewise Therapeutics from $25.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, Edgewise Therapeutics currently has an average rating of “Buy” and a consensus target price of $38.40.

Edgewise Therapeutics Trading Up 2.7 %

Shares of NASDAQ EWTX opened at $36.38 on Friday. Edgewise Therapeutics has a 12-month low of $5.12 and a 12-month high of $37.29. The firm has a market capitalization of $3.41 billion, a price-to-earnings ratio of -23.47 and a beta of 0.14. The firm has a 50 day moving average of $27.95 and a 200 day moving average of $21.81.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.36) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.01. Sell-side analysts predict that Edgewise Therapeutics will post -1.47 EPS for the current year.

Insider Buying and Selling

In related news, CFO R Michael Carruthers sold 125,092 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $28.57, for a total value of $3,573,878.44. Following the transaction, the chief financial officer now directly owns 6,904 shares of the company’s stock, valued at approximately $197,247.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO R Michael Carruthers sold 125,092 shares of Edgewise Therapeutics stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $28.57, for a total transaction of $3,573,878.44. Following the sale, the chief financial officer now owns 6,904 shares in the company, valued at $197,247.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Alan J. Russell sold 75,000 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $28.27, for a total transaction of $2,120,250.00. Following the completion of the transaction, the insider now directly owns 12,719 shares in the company, valued at $359,566.13. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 278,176 shares of company stock worth $7,893,316. 24.11% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. RA Capital Management L.P. purchased a new stake in shares of Edgewise Therapeutics in the first quarter worth about $162,502,000. Novo Holdings A S purchased a new stake in shares of Edgewise Therapeutics during the 2nd quarter worth approximately $114,263,000. Baker BROS. Advisors LP boosted its position in shares of 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 acquiring an additional 2,727,273 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of 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 acquiring an additional 1,892,053 shares during the last quarter. Finally, Artal Group S.A. purchased a new position in shares of Edgewise Therapeutics in the first quarter valued at $14,806,000.

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.