Edgewise Therapeutics (EWTX) Projected to Post Quarterly Earnings on Thursday

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) is expected to be posting its Q1 2025 quarterly earnings results before the market opens on Thursday, May 8th. Analysts expect Edgewise Therapeutics to post earnings of ($0.45) per share for the quarter.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last announced its quarterly earnings data on Monday, March 3rd. The company reported ($0.42) EPS for the quarter, missing analysts' consensus estimates of ($0.39) by ($0.03). On average, analysts expect Edgewise Therapeutics to post $-1 EPS for the current fiscal year and $-2 EPS for the next fiscal year.

Edgewise Therapeutics Trading Up 1.4 %

NASDAQ:EWTX traded up $0.23 during trading hours on Friday, hitting $16.91. The company had a trading volume of 1,428,721 shares, compared to its average volume of 1,157,850. Edgewise Therapeutics has a 1 year low of $10.60 and a 1 year high of $38.12. The company has a 50-day moving average of $19.32 and a 200 day moving average of $26.26. The company has a market cap of $1.77 billion, a P/E ratio of -11.27 and a beta of 0.32.

Insider Activity at Edgewise Therapeutics

In other Edgewise Therapeutics news, Director Orbimed Advisors Llc acquired 496,771 shares of the stock in a transaction on Thursday, April 3rd. The shares were bought at an average price of $20.13 per share, with a total value of $10,000,000.23. Following the acquisition, the director now owns 14,809,075 shares of the company's stock, valued at $298,106,679.75. This trade represents a 3.47 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alan J. Russell sold 1,200 shares of the company's stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $30.13, for a total value of $36,156.00. Following the transaction, the insider now directly owns 14,863 shares in the company, valued at $447,822.19. This represents a 7.47 % decrease in their position. The disclosure for this sale can be found here. 24.11% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have commented on EWTX shares. Guggenheim started coverage on shares of Edgewise Therapeutics in a research note on Wednesday. They set a "buy" rating and a $41.00 target price on the stock. Piper Sandler reiterated an "overweight" rating and issued a $51.00 price objective on shares of Edgewise Therapeutics in a report on Wednesday, April 2nd. Royal Bank of Canada cut their target price on Edgewise Therapeutics from $56.00 to $52.00 and set an "outperform" rating for the company in a research note on Thursday, April 3rd. Wedbush reaffirmed an "outperform" rating and issued a $43.00 price target on shares of Edgewise Therapeutics in a research note on Monday, April 21st. Finally, Scotiabank downgraded Edgewise Therapeutics from a "sector outperform" rating to a "sector perform" rating and cut their price objective for the stock from $50.00 to $14.00 in a research report on Wednesday, April 2nd. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $40.22.

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.