Edgewise Therapeutics (NASDAQ:EWTX) Stock Price Expected to Rise, Evercore ISI Analyst Says

Edgewise Therapeutics (NASDAQ:EWTX) had its price target raised by Evercore ISI from $45.00 to $50.00 in a report released on Tuesday,Benzinga reports. Evercore ISI currently has an outperform rating on the stock.

Other analysts have also recently issued reports about the company. Truist Financial boosted their price target on Edgewise Therapeutics from $33.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Wedbush raised their price target on shares of Edgewise Therapeutics from $44.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Piper Sandler increased their price objective on shares of Edgewise Therapeutics from $48.00 to $51.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $32.00 price target on shares of Edgewise Therapeutics in a research report on Tuesday, September 17th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Edgewise Therapeutics presently has an average rating of “Buy” and a consensus price target of $43.17.

Edgewise Therapeutics Price Performance

Shares of NASDAQ:EWTX opened at $30.80 on Tuesday. The firm has a market capitalization of $2.92 billion, a price-to-earnings ratio of -20.53 and a beta of 0.12. The business’s 50 day moving average price is $32.83 and its 200-day moving average price is $24.47. Edgewise Therapeutics has a 1 year low of $8.49 and a 1 year high of $38.12.

Edgewise Therapeutics (NASDAQ:EWTX) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.36) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.01. On average, sell-side analysts expect that Edgewise Therapeutics will post -1.45 earnings per share for the current year.

Insider Activity at Edgewise Therapeutics

In related news, General Counsel John R. Moore sold 20,922 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $27.63, for a total value of $578,074.86. Following the sale, the general counsel now directly owns 3,252 shares in the company, valued at approximately $89,852.76. The trade was a 86.55 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 24.11% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Quest Partners LLC lifted its holdings in shares of Edgewise Therapeutics by 156.9% in the 2nd quarter. Quest Partners LLC now owns 1,742 shares of the company’s stock worth $31,000 after acquiring an additional 1,064 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in Edgewise Therapeutics in the 2nd quarter valued at approximately $35,000. Mirae Asset Global Investments Co. Ltd. raised its position in Edgewise Therapeutics by 21.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,392 shares of the company’s stock valued at $88,000 after purchasing an additional 604 shares during the period. Chicago Partners Investment Group LLC acquired a new position in Edgewise Therapeutics during the third quarter worth $161,000. Finally, Arizona State Retirement System purchased a new position in shares of Edgewise Therapeutics during the second quarter worth $188,000.

Edgewise Therapeutics Company Profile

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.