Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) have been assigned an average rating of “Moderate Buy” from the nine brokerages that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $47.30.

A number of brokerages have weighed in on EWTX. HC Wainwright reissued a “buy” rating and set a $45.00 target price on shares of Edgewise Therapeutics in a report on Tuesday. Raymond James Financial reissued a “strong-buy” rating and set a $66.00 target price on shares of Edgewise Therapeutics in a report on Monday, June 1st. Wedbush increased their price objective on shares of Edgewise Therapeutics from $46.00 to $52.00 and gave the stock an “outperform” rating in a report on Monday, June 1st. The Goldman Sachs Group increased their price objective on shares of Edgewise Therapeutics from $20.00 to $32.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Stifel Nicolaus set a $25.00 price objective on shares of Edgewise Therapeutics in a report on Thursday, February 26th.

Edgewise Therapeutics Stock Performance

Shares of NASDAQ:EWTX opened at $36.87 on Friday. The stock has a market capitalization of $3.97 billion, a price-to-earnings ratio of -22.21 and a beta of 0.27. Edgewise Therapeutics has a 1-year low of $12.15 and a 1-year high of $40.76. The company’s fifty day moving average is $33.96 and its two-hundred day moving average is $29.98.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its earnings results on Thursday, May 7th. The company reported ($0.46) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.04. Sell-side analysts expect that Edgewise Therapeutics will post -2.01 EPS for the current fiscal year.

Insider Buying and Selling at Edgewise Therapeutics

In related news, CMO Joanne M. Donovan sold 50,000 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $38.57, for a total value of $1,928,500.00. Following the sale, the chief marketing officer owned 4,367 shares of the company’s stock, valued at $168,435.19. This trade represents a 91.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders have sold 83,892 shares of company stock valued at $3,018,216. 21.30% of the stock is owned by company insiders.

Institutional Trading of Edgewise Therapeutics

Large investors have recently modified their holdings of the company. Aberdeen Group plc increased its holdings in shares of Edgewise Therapeutics by 39.8% in the 3rd quarter. Aberdeen Group plc now owns 619,878 shares of the company’s stock worth $10,054,000 after acquiring an additional 176,559 shares during the period. SG Americas Securities LLC increased its holdings in shares of Edgewise Therapeutics by 797.9% in the 4th quarter. SG Americas Securities LLC now owns 88,723 shares of the company’s stock worth $2,202,000 after acquiring an additional 78,842 shares during the period. HighVista Strategies LLC increased its holdings in shares of Edgewise Therapeutics by 198.5% in the 3rd quarter. HighVista Strategies LLC now owns 208,101 shares of the company’s stock worth $3,375,000 after acquiring an additional 138,378 shares during the period. Integral Health Asset Management LLC increased its holdings in shares of Edgewise Therapeutics by 50.0% in the 3rd quarter. Integral Health Asset Management LLC now owns 1,500,000 shares of the company’s stock worth $24,330,000 after acquiring an additional 500,000 shares during the period. Finally, UBS Group AG lifted its holdings in Edgewise Therapeutics by 1,755.0% in the fourth quarter. UBS Group AG now owns 2,117,073 shares of the company’s stock worth $52,535,000 after purchasing an additional 2,002,945 shares during the period.

Edgewise Therapeutics Company Profile

Edgewise Therapeutics, Inc (NASDAQ: EWTX) is a clinical-stage biopharmaceutical company headquartered in Cambridge, Massachusetts, focused on the discovery and development of precision medicines for the treatment of rare diseases. The company leverages its expertise in small-molecule chemistry and ion channel biology to address severe, unmet medical needs, particularly in the areas of kidney disorders and neuromuscular diseases.

At the core of Edgewise’s pipeline is EWTX-101, a novel, orally available inhibitor of TRPC5, a calcium channel implicated in nephrotic syndromes such as focal segmental glomerulosclerosis (FSGS) and other proteinuric kidney diseases.