Brokerages Set Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Price Target at $38.83

Shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) have received an average rating of “Moderate Buy” from the thirteen ratings firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $38.8333.

Several equities research analysts have recently weighed in on the company. Royal Bank Of Canada increased their price target on Edgewise Therapeutics from $48.00 to $49.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. The Goldman Sachs Group assumed coverage on Edgewise Therapeutics in a report on Thursday, September 25th. They issued a “neutral” rating and a $20.00 price target on the stock. JPMorgan Chase & Co. reduced their price target on Edgewise Therapeutics from $40.00 to $30.00 and set an “overweight” rating on the stock in a report on Tuesday, August 19th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Edgewise Therapeutics in a report on Wednesday, October 8th. Finally, HC Wainwright assumed coverage on Edgewise Therapeutics in a report on Monday, June 30th. They issued a “buy” rating and a $42.00 price target on the stock.

Edgewise Therapeutics Stock Up 6.3%

NASDAQ EWTX opened at $15.62 on Monday. The company has a fifty day moving average of $14.68 and a two-hundred day moving average of $14.38. The firm has a market capitalization of $1.65 billion, a price-to-earnings ratio of -10.08 and a beta of 0.28. Edgewise Therapeutics has a 52 week low of $10.60 and a 52 week high of $38.12.

Edgewise Therapeutics (NASDAQ:EWTX) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.34) EPS for the quarter, topping the consensus estimate of ($0.42) by $0.08. Equities research analysts anticipate that Edgewise Therapeutics will post -1.45 EPS for the current year.

Insider Transactions at Edgewise Therapeutics

In related news, General Counsel John R. Moore sold 2,098 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $13.39, for a total value of $28,092.22. Following the transaction, the general counsel owned 10,214 shares of the company’s stock, valued at $136,765.46. This represents a 17.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alan J. Russell sold 100,000 shares of the stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $14.60, for a total value of $1,460,000.00. Following the completion of the transaction, the insider directly owned 23,400 shares in the company, valued at approximately $341,640. This trade represents a 81.04% decrease in their position. The disclosure for this sale can be found here. Insiders sold 116,267 shares of company stock worth $1,677,815 in the last ninety days. 23.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of EWTX. GAMMA Investing LLC grew its stake in Edgewise Therapeutics by 2,243.2% in the first quarter. GAMMA Investing LLC now owns 30,954 shares of the company’s stock worth $681,000 after purchasing an additional 29,633 shares in the last quarter. Rhumbline Advisers grew its stake in Edgewise Therapeutics by 6.3% in the first quarter. Rhumbline Advisers now owns 108,837 shares of the company’s stock worth $2,394,000 after purchasing an additional 6,440 shares in the last quarter. SG Americas Securities LLC bought a new position in Edgewise Therapeutics in the first quarter worth approximately $283,000. Arizona State Retirement System boosted its position in Edgewise Therapeutics by 12.3% during the 1st quarter. Arizona State Retirement System now owns 12,201 shares of the company’s stock valued at $268,000 after acquiring an additional 1,338 shares in the last quarter. Finally, Jennison Associates LLC bought a new stake in Edgewise Therapeutics during the 1st quarter valued at $2,832,000.

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.