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

Key Points

• Analysts maintain a “Moderate Buy” consensus on Edgewise Therapeutics, with eight buys, one strong buy, one hold and one sell among 11 firms. The average 12-month price target is $48.75, with targets ranging from $51 to $66 among recent bullish updates.
• Edgewise shares opened at $43.52, near their 12-month high of $48.40, giving the company a market capitalization of approximately $4.68 billion. The stock’s 50-day and 200-day moving averages are $39.45 and $34.09, respectively.
• The company reported a quarterly loss of $0.53 per share, missing the consensus estimate of a $0.47 loss; analysts expect a full-year loss of $2.06 per share. Separately, insider Alan J. Russell sold 200,000 shares for about $7.9 million, reducing his direct ownership by 89.07%.

Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Get Free Report) has received an average recommendation of "Moderate Buy" from the eleven research firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, eight have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $48.75.

Several equities analysts recently commented on EWTX shares. Guggenheim upped their price target on shares of Edgewise Therapeutics from $41.00 to $51.00 and gave the stock a "buy" rating in a research report on Monday, July 6th. Raymond James Financial reiterated a "strong-buy" rating and issued a $66.00 price target on shares of Edgewise Therapeutics in a report on Monday, June 1st. Leerink Partners set a $52.00 price objective on shares of Edgewise Therapeutics in a research note on Tuesday, June 16th. Weiss Ratings restated a "sell (d-)" rating on shares of Edgewise Therapeutics in a report on Friday, July 17th. Finally, Royal Bank Of Canada increased their target price on Edgewise Therapeutics from $48.00 to $59.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 17th.

Insider Transactions at Edgewise Therapeutics

In other Edgewise Therapeutics news, insider Alan J. Russell sold 200,000 shares of the company's stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $39.41, for a total transaction of $7,882,000.00. Following the completion of the sale, the insider directly owned 24,555 shares in the company, valued at $967,712.55. This represents a 89.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 21.30% of the company's stock.

Institutional Trading of Edgewise Therapeutics

A number of institutional investors have recently modified their holdings of the company. Optimize Financial Inc increased its position in Edgewise Therapeutics by 1.5% during the 4th quarter. Optimize Financial Inc now owns 27,679 shares of the company's stock worth $687,000 after purchasing an additional 396 shares in the last quarter. Parallel Advisors LLC grew its stake in Edgewise Therapeutics by 64.9% during the first quarter. Parallel Advisors LLC now owns 1,032 shares of the company's stock worth $33,000 after buying an additional 406 shares during the period. Steward Partners Investment Advisory LLC grew its stake in Edgewise Therapeutics by 23.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,854 shares of the company's stock worth $71,000 after buying an additional 550 shares during the period. California State Teachers Retirement System grew its stake in Edgewise Therapeutics by 2.4% during the second quarter. California State Teachers Retirement System now owns 36,878 shares of the company's stock worth $483,000 after buying an additional 850 shares during the period. Finally, AlphaCentric Advisors LLC increased its position in shares of Edgewise Therapeutics by 6.2% in the first quarter. AlphaCentric Advisors LLC now owns 15,615 shares of the company's stock worth $492,000 after acquiring an additional 912 shares in the last quarter.

Edgewise Therapeutics Price Performance

EWTX opened at $43.52 on Friday. The stock has a market capitalization of $4.68 billion, a price-to-earnings ratio of -23.52 and a beta of 0.30. The business has a 50-day moving average of $39.45 and a two-hundred day moving average of $34.09. Edgewise Therapeutics has a 12 month low of $12.30 and a 12 month high of $48.40.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of ($0.47) by ($0.06). Equities research analysts anticipate that Edgewise Therapeutics will post -2.06 earnings per share for the current 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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