Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Given Consensus Rating of "Moderate Buy" by Analysts

Key Points

• Nine analysts give Edgewise a consensus rating of Moderate Buy with an average 1‑year price target of $38.13, while several firms have lifted targets to $45–$46 even as a couple (Weiss, Wall Street Zen) issued sell ratings, indicating mixed but generally positive sentiment.
• CMO Joanne M. Donovan sold 28,662 shares for about $926K and insiders still own 23.2% of the company, while institutions such as Peregrine Capital and Invesco have recently built or increased positions.
• Edgewise is a clinical‑stage biopharma focused on EWTX‑101 (a TRPC5 inhibitor for proteinuric kidney diseases); the stock opened near $30.96 with a market cap of ~$3.33B, and the company recently missed quarterly EPS (‑$0.47 vs. est. ‑$0.43) with analysts projecting roughly ‑2.16 EPS for the year.

Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Get Free Report) has earned an average recommendation of "Moderate Buy" from the nine analysts that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, five have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $38.1250.

EWTX has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised their price target on shares of Edgewise Therapeutics from $34.00 to $45.00 and gave the stock an "overweight" rating in a report on Tuesday, March 17th. Evercore reissued an "outperform" rating and issued a $45.00 price target on shares of Edgewise Therapeutics in a report on Thursday, February 26th. Raymond James Financial set a $46.00 price target on shares of Edgewise Therapeutics in a report on Tuesday, March 10th. Weiss Ratings reissued a "sell (d-)" rating on shares of Edgewise Therapeutics in a report on Monday, April 20th. Finally, Wall Street Zen lowered shares of Edgewise Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, February 28th.

Insider Buying and Selling at Edgewise Therapeutics

In other news, CMO Joanne M. Donovan sold 28,662 shares of Edgewise Therapeutics stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $32.31, for a total transaction of $926,069.22. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 23.20% of the company's stock.

Institutional Investors Weigh In On Edgewise Therapeutics

A number of large investors have recently modified their holdings of the stock. Strs Ohio bought a new stake in shares of Edgewise Therapeutics during the 1st quarter valued at about $217,000. Peregrine Capital Management LLC bought a new stake in shares of Edgewise Therapeutics during the 1st quarter valued at about $6,573,000. Pictet Asset Management Holding SA purchased a new position in Edgewise Therapeutics during the 1st quarter valued at about $240,000. Seven Fleet Capital Management LP purchased a new position in Edgewise Therapeutics during the 4th quarter valued at about $50,000. Finally, Invesco Ltd. lifted its position in Edgewise Therapeutics by 14.2% during the 4th quarter. Invesco Ltd. now owns 75,438 shares of the company's stock valued at $1,872,000 after acquiring an additional 9,382 shares during the period.

Edgewise Therapeutics Stock Up 1.7%

Shares of Edgewise Therapeutics stock opened at $30.96 on Friday. The firm has a market cap of $3.33 billion, a PE ratio of -18.99 and a beta of 0.24. Edgewise Therapeutics has a 12-month low of $12.15 and a 12-month high of $35.00. The company's fifty day simple moving average is $31.11 and its two-hundred day simple moving average is $26.20.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last announced its quarterly earnings results on Thursday, February 26th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.43) by ($0.04). As a group, sell-side analysts expect that Edgewise Therapeutics will post -2.16 earnings per share for the current fiscal year.

About Edgewise Therapeutics

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.

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