Edgewise Therapeutics (NASDAQ:EWTX) Price Target Raised to $50.00

Edgewise Therapeutics (NASDAQ:EWTX) had its price objective raised by Evercore ISI from $45.00 to $50.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have an outperform rating on the stock.

Several other brokerages also recently weighed in on EWTX. Truist Financial raised their price target on Edgewise Therapeutics from $33.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Piper Sandler lifted their target price on shares of Edgewise Therapeutics from $48.00 to $51.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Wedbush upped their price target on shares of Edgewise Therapeutics from $44.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $32.00 price objective on shares of Edgewise Therapeutics in a research note on Tuesday, September 17th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $43.17.

Edgewise Therapeutics Stock Up 2.6 %

Shares of Edgewise Therapeutics stock opened at $30.80 on Tuesday. The company has a market cap of $2.92 billion, a P/E ratio of -20.53 and a beta of 0.12. The firm’s 50 day moving average price is $32.83 and its 200-day moving average price is $24.47. Edgewise Therapeutics has a 52-week low of $8.49 and a 52-week high of $38.12.

Edgewise Therapeutics (NASDAQ:EWTX) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.01. As a group, equities research analysts forecast that Edgewise Therapeutics will post -1.45 EPS for the current fiscal year.

Insider Activity

In other Edgewise Therapeutics news, General Counsel John R. Moore sold 20,922 shares of Edgewise Therapeutics stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $27.63, for a total transaction of $578,074.86. Following the completion of the transaction, the general counsel now owns 3,252 shares in the company, valued at approximately $89,852.76. This trade represents a 86.55 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 24.11% of the company’s stock.

Institutional Trading of Edgewise Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of EWTX. Quest Partners LLC lifted its holdings 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 period. Meeder Asset Management Inc. acquired a new position in shares of Edgewise Therapeutics in the 2nd quarter valued at $35,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Edgewise Therapeutics by 21.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,392 shares of the company’s stock worth $88,000 after buying an additional 604 shares in the last quarter. Chicago Partners Investment Group LLC purchased a new stake in Edgewise Therapeutics during the third quarter worth $161,000. Finally, US Bancorp DE grew its position in Edgewise Therapeutics by 12,452.9% during the third quarter. US Bancorp DE now owns 8,536 shares of the company’s stock valued at $228,000 after buying an additional 8,468 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.