Research Analysts Offer Predictions for EWTX FY2029 Earnings

Key Points

• Wedbush analysts have decreased their FY2029 earnings per share estimate for Edgewise Therapeutics from $1.60 to $1.59, while maintaining an "Outperform" rating and a price target of $43.00.
• Several brokerages have initiated coverage on Edgewise Therapeutics, with price objectives ranging from $41.00 to $49.00, indicating a generally positive outlook on the stock.
• Edgewise Therapeutics recently reported a quarterly EPS of ($0.34), surpassing analysts' expectations of ($0.42) by $0.08, showcasing better-than-anticipated financial performance.

Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) - Research analysts at Wedbush reduced their FY2029 earnings per share estimates for Edgewise Therapeutics in a report released on Friday, August 8th. Wedbush analyst L. Chico now anticipates that the company will post earnings of $1.59 per share for the year, down from their prior forecast of $1.60. Wedbush has a "Outperform" rating and a $43.00 price objective on the stock. The consensus estimate for Edgewise Therapeutics' current full-year earnings is ($1.45) per share.

A number of other brokerages have also recently weighed in on EWTX. HC Wainwright initiated coverage on Edgewise Therapeutics in a research note on Monday, June 30th. They issued a "buy" rating and a $42.00 price objective for the company. Raymond James Financial initiated coverage on Edgewise Therapeutics in a research note on Wednesday, July 30th. They issued a "strong-buy" rating and a $46.00 price objective for the company. Royal Bank Of Canada lifted their price objective on Edgewise Therapeutics from $48.00 to $49.00 and gave the company an "outperform" rating in a research note on Friday. Finally, Guggenheim initiated coverage on Edgewise Therapeutics in a research note on Wednesday, April 30th. They issued a "buy" rating and a $41.00 price objective for the company. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Edgewise Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus target price of $40.64.

Edgewise Therapeutics Stock Down 2.1%

NASDAQ:EWTX opened at $12.68 on Monday. Edgewise Therapeutics has a 52 week low of $10.60 and a 52 week high of $38.12. The company has a market capitalization of $1.33 billion, a P/E ratio of -8.18 and a beta of 0.26. The stock's fifty day moving average is $14.02 and its two-hundred day moving average is $18.06.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported ($0.34) EPS for the quarter, beating analysts' consensus estimates of ($0.42) by $0.08.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Creative Planning grew its stake in Edgewise Therapeutics by 29.4% during the 2nd quarter. Creative Planning now owns 16,910 shares of the company's stock worth $222,000 after purchasing an additional 3,837 shares in the last quarter. Police & Firemen s Retirement System of New Jersey grew its stake in Edgewise Therapeutics by 12.3% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 17,356 shares of the company's stock worth $228,000 after purchasing an additional 1,903 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Edgewise Therapeutics by 8.5% during the 2nd quarter. Geode Capital Management LLC now owns 1,797,215 shares of the company's stock worth $23,564,000 after buying an additional 141,551 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in Edgewise Therapeutics during the 2nd quarter worth about $1,497,000. Finally, Teacher Retirement System of Texas lifted its holdings in Edgewise Therapeutics by 10.7% during the 2nd quarter. Teacher Retirement System of Texas now owns 12,646 shares of the company's stock worth $166,000 after buying an additional 1,225 shares during the last quarter.

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.

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