Research Analysts Set Expectations for EWTX FY2029 Earnings

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) – Equities research analysts at HC Wainwright dropped their FY2029 earnings per share (EPS) estimates for shares of Edgewise Therapeutics in a research note issued on Friday, November 7th. HC Wainwright analyst J. Pantginis now anticipates that the company will post earnings per share of $3.25 for the year, down from their previous estimate of $3.47. The consensus estimate for Edgewise Therapeutics’ current full-year earnings is ($1.45) per share.

Other equities research analysts have also issued research reports about the company. JPMorgan Chase & Co. lowered their price objective on Edgewise Therapeutics from $40.00 to $30.00 and set an “overweight” rating on the stock in a report on Tuesday, August 19th. Raymond James Financial initiated coverage on Edgewise Therapeutics in a report on Wednesday, July 30th. They issued a “strong-buy” rating and a $46.00 price target for the company. Royal Bank Of Canada lifted their price target on Edgewise Therapeutics from $49.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. The Goldman Sachs Group initiated coverage on Edgewise Therapeutics in a research report on Thursday, September 25th. They issued a “neutral” rating and a $20.00 price objective for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Edgewise Therapeutics in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $38.00.

Edgewise Therapeutics Stock Up 17.5%

Shares of Edgewise Therapeutics stock opened at $21.48 on Monday. Edgewise Therapeutics has a 52-week low of $10.60 and a 52-week high of $35.99. The company’s 50-day simple moving average is $15.72 and its 200-day simple moving average is $14.80. The firm has a market cap of $2.27 billion, a price-to-earnings ratio of -13.59 and a beta of 0.30.

Edgewise Therapeutics (NASDAQ:EWTX) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.39) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.01.

Hedge Funds Weigh In On Edgewise Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EWTX. Orbimed Advisors LLC grew its position in shares of Edgewise Therapeutics by 3.3% in the second quarter. Orbimed Advisors LLC now owns 15,518,492 shares of the company’s stock valued at $203,447,000 after purchasing an additional 496,771 shares during the last quarter. Braidwell LP lifted its stake in Edgewise Therapeutics by 111.9% in the 2nd quarter. Braidwell LP now owns 5,210,831 shares of the company’s stock valued at $68,314,000 after buying an additional 2,752,023 shares in the last quarter. Cormorant Asset Management LP lifted its stake in Edgewise Therapeutics by 20.4% in the 1st quarter. Cormorant Asset Management LP now owns 4,101,992 shares of the company’s stock valued at $90,244,000 after buying an additional 695,458 shares in the last quarter. Bellevue Group AG grew its holdings in Edgewise Therapeutics by 94.3% during the 2nd quarter. Bellevue Group AG now owns 2,775,997 shares of the company’s stock valued at $36,393,000 after buying an additional 1,347,068 shares during the last quarter. Finally, First Light Asset Management LLC increased its position in Edgewise Therapeutics by 137.3% during the first quarter. First Light Asset Management LLC now owns 1,852,290 shares of the company’s stock worth $40,750,000 after buying an additional 1,071,651 shares in the last quarter.

Insider Activity at Edgewise Therapeutics

In related news, insider Alan J. Russell sold 100,000 shares of the business’s stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $14.60, for a total value of $1,460,000.00. Following the sale, the insider directly owned 23,400 shares in the company, valued at $341,640. The trade was a 81.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 23.20% of the stock is owned by corporate insiders.

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.