Edgewise Therapeutics (NASDAQ:EWTX) Price Target Raised to $31.00 at JPMorgan Chase & Co.

Edgewise Therapeutics (NASDAQ:EWTX) had its target price upped by JPMorgan Chase & Co. from $30.00 to $31.00 in a research note issued to investors on Monday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Other equities analysts have also issued research reports about the stock. Truist Financial restated a buy rating and set a $25.00 price objective on shares of Edgewise Therapeutics in a research report on Wednesday, April 17th. Wedbush reissued an outperform rating and set a $31.00 price objective on shares of Edgewise Therapeutics in a research note on Wednesday, June 26th. Royal Bank of Canada reaffirmed an outperform rating and set a $32.00 target price on shares of Edgewise Therapeutics in a research report on Thursday, July 25th. Finally, Piper Sandler restated an overweight rating and set a $48.00 price objective on shares of Edgewise Therapeutics in a report on Monday, July 1st. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of Buy and an average target price of $33.40.

Edgewise Therapeutics Trading Down 1.2 %

Shares of NASDAQ:EWTX opened at $18.65 on Monday. The company has a 50 day moving average of $18.53 and a 200-day moving average of $17.88. The firm has a market cap of $1.74 billion, a P/E ratio of -12.17 and a beta of 0.14. Edgewise Therapeutics has a twelve month low of $5.12 and a twelve month high of $23.50.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.36) by $0.02. Equities research analysts forecast that Edgewise Therapeutics will post -1.59 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of EWTX. Quest Partners LLC lifted its stake in 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 acquiring an additional 1,064 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Edgewise Therapeutics in the 2nd quarter valued at $35,000. Ameritas Investment Partners Inc. lifted its stake in shares of Edgewise Therapeutics by 37.3% in the 1st quarter. Ameritas Investment Partners Inc. now owns 5,751 shares of the company’s stock valued at $105,000 after purchasing an additional 1,561 shares during the last quarter. AJOVista LLC bought a new stake in Edgewise Therapeutics in the fourth quarter worth $84,000. Finally, Arizona State Retirement System bought a new position in Edgewise Therapeutics during the second quarter valued at about $188,000.

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.