Edgewise Therapeutics (NASDAQ:EWTX) Price Target Cut to $32.00 by Analysts at Wedbush

by · The Cerbat Gem

Edgewise Therapeutics (NASDAQ:EWTX – Free Report) had its price objective cut by Wedbush from $35.00 to $32.00 in a research note published on Friday,Benzinga reports. They currently have an outperform rating on the stock. Wedbush also issued estimates for Edgewise Therapeutics’ FY2029 earnings at $1.47 EPS.

A number of other equities analysts also recently weighed in on the company. The Goldman Sachs Group started coverage on Edgewise Therapeutics in a research report on Thursday, September 25th. They set a “neutral” rating and a $20.00 price target for the company. JPMorgan Chase & Co. cut their price objective on shares of Edgewise Therapeutics from $40.00 to $30.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 19th. Weiss Ratings restated a “sell (d-)” rating on shares of Edgewise Therapeutics in a report on Wednesday, October 8th. Raymond James Financial assumed coverage on shares of Edgewise Therapeutics in a research note on Wednesday, July 30th. They issued a “strong-buy” rating and a $46.00 price target on the stock. Finally, Royal Bank Of Canada boosted their price target on shares of Edgewise Therapeutics from $48.00 to $49.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.00.

View Our Latest Stock Analysis on Edgewise Therapeutics

Edgewise Therapeutics Price Performance

Shares of EWTX traded up $0.07 during midday trading on Friday, hitting $17.16. The stock had a trading volume of 745,820 shares, compared to its average volume of 818,671. The company has a 50 day simple moving average of $15.51 and a two-hundred day simple moving average of $14.72. Edgewise Therapeutics has a twelve month low of $10.60 and a twelve month high of $38.12. The firm has a market cap of $1.81 billion, a price-to-earnings ratio of -10.86 and a beta of 0.30.

Edgewise Therapeutics (NASDAQ:EWTX – Get Free Report) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.39) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.01. Analysts forecast that Edgewise Therapeutics will post -1.45 EPS for the current fiscal year.

Insiders Place Their Bets

In other Edgewise Therapeutics news, CMO Joanne M. Donovan sold 2,862 shares of the business’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $13.39, for a total transaction of $38,322.18. Following the transaction, the chief marketing officer owned 25,361 shares of the company’s stock, valued at $339,583.79. The trade was a 10.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel John R. Moore sold 2,098 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $13.39, for a total value of $28,092.22. Following the completion of the sale, the general counsel directly owned 10,214 shares of the company’s stock, valued at approximately $136,765.46. The trade was a 17.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 116,267 shares of company stock worth $1,677,815 in the last three months. 23.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Edgewise Therapeutics

Large investors have recently modified their holdings of the stock. Jones Financial Companies Lllp bought a new stake in shares of Edgewise Therapeutics during the 1st quarter worth about $47,000. Bessemer Group Inc. lifted its position in Edgewise Therapeutics by 1,170.3% during 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 during the last quarter. Allostery Investments LP bought a new stake in shares of Edgewise Therapeutics during the first quarter worth approximately $66,000. Caitong International Asset Management Co. Ltd grew its position in shares of 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 during the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in shares of Edgewise Therapeutics during the second quarter worth approximately $45,000.

About Edgewise Therapeutics

(Get Free Report)

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.

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