FY2030 EPS Estimate for Edgewise Therapeutics Cut by Analyst

Key Points

• HC Wainwright lowered its FY2030 EPS estimate for Edgewise Therapeutics to $2.03 from $2.09, while maintaining a “Buy” rating and a $45 price target.
• Edgewise reported a quarterly loss of $0.53 per share, missing the $0.47 consensus estimate by $0.06. Analysts overall remain moderately bullish, with an average price target of $48.75.
• Shares opened at $44.42 and have risen sharply over the past year, trading between $12.30 and $48.40; meanwhile, insider Alan J. Russell sold 200,000 shares for about $7.9 million.

Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) - Research analysts at HC Wainwright cut their FY2030 earnings per share (EPS) estimates for shares of Edgewise Therapeutics in a research report issued to clients and investors on Thursday, August 6th. HC Wainwright analyst L. Egana-Gorrono now anticipates that the company will post earnings per share of $2.03 for the year, down from their prior estimate of $2.09. HC Wainwright has a "Buy" rating and a $45.00 price target on the stock. The consensus estimate for Edgewise Therapeutics' current full-year earnings is ($2.01) per share.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($0.06).

A number of other equities research analysts have also issued reports on the stock. Guggenheim boosted their price target on shares of Edgewise Therapeutics from $41.00 to $51.00 and gave the company a "buy" rating in a report on Monday, July 6th. Oppenheimer assumed coverage on shares of Edgewise Therapeutics in a research report on Thursday, July 9th. They set an "outperform" rating and a $51.00 price objective on the stock. The Goldman Sachs Group boosted their target price on shares of Edgewise Therapeutics from $20.00 to $32.00 and gave the company a "neutral" rating in a research note on Wednesday, June 17th. 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 company an "outperform" rating in a report on Wednesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $48.75.

Edgewise Therapeutics Price Performance

Shares of EWTX opened at $44.42 on Friday. The company has a 50-day moving average of $39.27 and a two-hundred day moving average of $34.02. The stock has a market cap of $4.78 billion, a price-to-earnings ratio of -26.76 and a beta of 0.30. Edgewise Therapeutics has a one year low of $12.30 and a one year high of $48.40.

Institutional Investors Weigh In On Edgewise Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EWTX. Parallel Advisors LLC boosted its stake in shares of Edgewise Therapeutics by 64.9% during the 1st quarter. Parallel Advisors LLC now owns 1,032 shares of the company's stock valued at $33,000 after buying an additional 406 shares during the period. Canada Pension Plan Investment Board acquired a new position in shares of Edgewise Therapeutics in the second quarter worth $45,000. Jones Financial Companies Lllp purchased a new stake in shares of Edgewise Therapeutics during the first quarter worth $47,000. KBC Group NV purchased a new stake in shares of Edgewise Therapeutics during the first quarter worth $49,000. Finally, Seven Fleet Capital Management LP acquired a new stake in Edgewise Therapeutics during the fourth quarter valued at $50,000.

Insider Activity

In related news, insider Alan J. Russell sold 200,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 1st. The shares were 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 approximately $967,712.55. This trade represents a 89.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 21.30% of the stock is owned by company insiders.

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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