Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) have earned an average recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $37.3636.

EWTX has been the subject of a number of research reports. Wedbush restated an “outperform” rating and set a $32.00 target price on shares of Edgewise Therapeutics in a report on Tuesday. Stifel Nicolaus set a $25.00 price target on Edgewise Therapeutics in a report on Thursday, February 26th. HC Wainwright upgraded Edgewise Therapeutics to a “strong-buy” rating in a research report on Thursday, February 26th. JPMorgan Chase & Co. raised their price objective on Edgewise Therapeutics from $34.00 to $45.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Raymond James Financial set a $46.00 target price on Edgewise Therapeutics in a research report on Tuesday, March 10th.

Insiders Place Their Bets

In related news, Director Badreddin Edris sold 115,471 shares of Edgewise Therapeutics stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $29.44, for a total value of $3,399,466.24. Following the transaction, the director owned 19,820 shares of the company’s stock, valued at approximately $583,500.80. This trade represents a 85.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 23.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Optimize Financial Inc raised its holdings in shares of Edgewise Therapeutics by 1.5% during the fourth quarter. Optimize Financial Inc now owns 27,679 shares of the company’s stock valued at $687,000 after acquiring an additional 396 shares during the period. Steward Partners Investment Advisory LLC lifted its position in shares of Edgewise Therapeutics by 23.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,854 shares of the company’s stock valued at $71,000 after acquiring an additional 550 shares in the last quarter. California State Teachers Retirement System boosted its stake in Edgewise Therapeutics by 2.4% in the 2nd quarter. California State Teachers Retirement System now owns 36,878 shares of the company’s stock worth $483,000 after purchasing an additional 850 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in Edgewise Therapeutics by 26.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,145 shares of the company’s stock worth $128,000 after purchasing an additional 1,072 shares in the last quarter. Finally, HighMark Wealth Management LLC grew its position in Edgewise Therapeutics by 2.1% during the 3rd quarter. HighMark Wealth Management LLC now owns 53,179 shares of the company’s stock worth $863,000 after purchasing an additional 1,114 shares in the last quarter.

Edgewise Therapeutics Trading Down 2.7%

Shares of NASDAQ EWTX opened at $29.69 on Thursday. Edgewise Therapeutics has a twelve month low of $10.60 and a twelve month high of $31.82. The company has a market capitalization of $3.18 billion, a price-to-earnings ratio of -18.21 and a beta of 0.26. The firm has a 50-day moving average of $28.91 and a two-hundred day moving average of $22.60.

Edgewise Therapeutics (NASDAQ:EWTX) last announced its quarterly earnings data 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). As a group, research analysts predict that Edgewise Therapeutics will post -1.45 earnings per share 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.