HC Wainwright Has Bearish Estimate for EWTX FY2028 Earnings

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) – Stock analysts at HC Wainwright cut their FY2028 earnings per share (EPS) estimates for Edgewise Therapeutics in a research report issued to clients and investors on Friday, November 6th. HC Wainwright analyst L. Egana-Gorrono now expects that the company will post earnings per share of ($2.63) for the year, down from their previous forecast of ($2.15). HC Wainwright currently has a “Buy” rating on the stock. The consensus estimate for Edgewise Therapeutics’ current full-year earnings is $6.92 per share. HC Wainwright also issued estimates for Edgewise Therapeutics’ FY2029 earnings at ($2.83) EPS and FY2030 earnings at ($1.70) EPS.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its earnings results on Wednesday, November 4th. The company reported $9.65 EPS for the quarter, beating analysts’ consensus estimates of ($0.53) by $10.18.

Several other research firms also recently commented on EWTX. Evercore reaffirmed an “outperform” rating and issued a $55.00 price objective on shares of Edgewise Therapeutics in a report on Monday, July 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Edgewise Therapeutics in a research note on Thursday, October 15th. The Goldman Sachs Group raised their target price on shares of Edgewise Therapeutics from $32.00 to $36.00 and gave the stock a “neutral” rating in a report on Tuesday, August 11th. JPMorgan Chase & Co. boosted their target price on shares of Edgewise Therapeutics from $53.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, August 20th. Finally, Wall Street Zen upgraded shares of Edgewise Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, October 4th. Nine investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $52.83.

Edgewise Therapeutics Trading Down 4.5%

EWTX opened at $46.53 on Wednesday. Edgewise Therapeutics has a 12-month low of $18.10 and a 12-month high of $48.78. The firm has a market capitalization of $5.09 billion, a PE ratio of 5.68 and a beta of 0.39. The firm has a 50 day moving average of $41.07 and a two-hundred day moving average of $36.72.

Insider Activity at Edgewise Therapeutics

In related news, CFO Michael Nofi sold 4,442 shares of Edgewise Therapeutics stock in a transaction on Tuesday, November 10th. The shares were sold at an average price of $45.43, for a total value of $201,800.06. Following the sale, the chief financial officer owned 6,495 shares of the company’s stock, valued at approximately $295,067.85. This trade represents a 40.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CMO Joanne M. Donovan sold 2,919 shares of the business’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $43.41, for a total transaction of $126,713.79. Following the completion of the sale, the chief marketing officer directly owned 8,625 shares of the company’s stock, valued at approximately $374,411.25. The trade was a 25.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 21.30% of the company’s stock.

Institutional Trading of Edgewise Therapeutics

Several institutional investors have recently modified their holdings of EWTX. Russell Investments Group Ltd. lifted its stake in Edgewise Therapeutics by 214.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 244,484 shares of the company’s stock valued at $9,764,000 after buying an additional 166,751 shares in the last quarter. Lisanti Capital Growth LLC acquired a new stake in Edgewise Therapeutics in the 3rd quarter worth about $3,567,000. Pictet Asset Management Holding SA increased its stake in Edgewise Therapeutics by 10,434.8% during the 3rd quarter. Pictet Asset Management Holding SA now owns 661,586 shares of the company’s stock worth $26,860,000 after buying an additional 655,306 shares in the last quarter. AlphaCentric Advisors LLC increased its stake in Edgewise Therapeutics by 4.6% during the 3rd quarter. AlphaCentric Advisors LLC now owns 16,572 shares of the company’s stock worth $673,000 after buying an additional 732 shares in the last quarter. Finally, Alps Advisors Inc. increased its stake in Edgewise Therapeutics by 32.2% during the 3rd quarter. Alps Advisors Inc. now owns 143,864 shares of the company’s stock worth $5,841,000 after buying an additional 35,069 shares in the last quarter.

Edgewise Therapeutics Company Profile

Edgewise Therapeutics is a clinical-stage biopharmaceutical company focused on developing therapies for serious muscle disorders. Founded in 2017 and based in Boulder, Colorado, the company researches small-molecule treatments designed to address the underlying biology of muscle and cardiac conditions. Its programs include sevasemten, an investigational therapy for Duchenne and Becker muscular dystrophies, and EDG-7500, an investigational treatment being developed for hypertrophic cardiomyopathy.