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

Key Points

• Analysts give Edgewise a consensus rating of Moderate Buy from 10 firms (1 sell, 1 hold, 6 buy, 2 strong buy), with an average 12‑month price target of $38.44 and some brokers setting targets of $45–$46.
• Significant insider selling has occurred recently: CMO Joanne M. Donovan sold 28,662 shares at about $32.31 and Director Badreddin Edris sold 115,471 shares at about $29.44; insiders still own 23.20% of the stock.
• Shares opened at $33.33 and trade near a 52‑week high of $33.56 (52‑week low $10.60); the company has a market cap of ~$3.58B and reported a quarterly EPS of ($0.47) that missed estimates, with analysts forecasting ~‑1.45 EPS for the year.

Shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Get Free Report) have been given an average rating of "Moderate Buy" by the ten research firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, six have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $38.4444.

A number of research analysts recently weighed in on the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Edgewise Therapeutics in a research report on Wednesday, January 21st. Wall Street Zen cut Edgewise Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, February 28th. Evercore restated an "outperform" rating and set a $45.00 price target on shares of Edgewise Therapeutics in a report on Thursday, February 26th. HC Wainwright raised Edgewise Therapeutics to a "strong-buy" rating in a research report on Thursday, February 26th. Finally, Raymond James Financial set a $46.00 price target on shares of Edgewise Therapeutics in a research note on Tuesday, March 10th.

Insider Activity

In other news, CMO Joanne M. Donovan sold 28,662 shares of the company's stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $32.31, for a total value of $926,069.22. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Badreddin Edris sold 115,471 shares of the stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $29.44, for a total transaction of $3,399,466.24. Following the sale, the director owned 19,820 shares in the company, valued at approximately $583,500.80. The trade was a 85.35% decrease in their position. The SEC filing for this sale provides additional information. 23.20% of the stock is currently owned by insiders.

Institutional Trading of Edgewise Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Bessemer Group Inc. increased its holdings in shares of Edgewise Therapeutics by 1,170.3% in the 3rd quarter. Bessemer Group Inc. now owns 2,350 shares of the company's stock worth $38,000 after purchasing an additional 2,165 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in shares of Edgewise Therapeutics during the second quarter valued at $45,000. Jones Financial Companies Lllp purchased a new stake in shares of Edgewise Therapeutics during the first quarter valued at $47,000. Seven Fleet Capital Management LP purchased a new stake in shares of Edgewise Therapeutics during the fourth quarter valued at $50,000. Finally, Steward Partners Investment Advisory LLC increased its holdings in Edgewise Therapeutics by 23.9% in the 4th 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 in the last quarter.

Edgewise Therapeutics Stock Performance

Shares of EWTX opened at $33.33 on Monday. Edgewise Therapeutics has a fifty-two week low of $10.60 and a fifty-two week high of $33.56. The firm's 50-day simple moving average is $29.93 and its two-hundred day simple moving average is $24.07. The stock has a market cap of $3.58 billion, a PE ratio of -20.45 and a beta of 0.24.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last released its earnings results on Thursday, February 26th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.43) by ($0.04). Equities research analysts predict that Edgewise Therapeutics will post -1.45 EPS for the current year.

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.

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