Edgewise Therapeutics (NASDAQ:EWTX) Price Target Raised to $57.00 at HC Wainwright

Edgewise Therapeutics (NASDAQ:EWTX) had its target price increased by HC Wainwright from $45.00 to $57.00 in a report issued on Monday, MarketBeat Ratings reports. HC Wainwright currently has a buy rating on the stock.

A number of other equities research analysts also recently weighed in on the stock. Wall Street Zen raised shares of Edgewise Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, September 5th. JPMorgan Chase & Co. boosted their target price on shares of Edgewise Therapeutics from $53.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, August 20th. Guggenheim increased their target price on shares of Edgewise Therapeutics from $41.00 to $51.00 and gave the company a “buy” rating in a research note on Monday, July 6th. Wedbush raised their target price on shares of Edgewise Therapeutics from $46.00 to $52.00 and gave the stock an “outperform” rating in a report on Monday, June 1st. Finally, Raymond James Financial restated a “strong-buy” rating and issued a $66.00 price target on shares of Edgewise Therapeutics in a research report on Monday, June 1st. One 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $51.33.

Edgewise Therapeutics Stock Performance

Shares of EWTX stock opened at $44.64 on Monday. Edgewise Therapeutics has a 1 year low of $14.25 and a 1 year high of $48.51. The business’s fifty day moving average is $42.68 and its 200-day moving average is $37.28. The stock has a market cap of $4.85 billion, a PE ratio of -24.13 and a beta of 0.32.

Edgewise Therapeutics (NASDAQ:EWTX) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of ($0.47) by ($0.06). Equities research analysts predict that Edgewise Therapeutics will post -2.09 earnings per share for the current year.

Insider Buying and Selling

In other Edgewise Therapeutics news, General Counsel John Moore sold 5,016 shares of the company’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $43.82, for a total transaction of $219,801.12. Following the completion of the sale, the general counsel directly owned 17,697 shares of the company’s stock, valued at approximately $775,482.54. This represents a 22.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CMO Joanne M. Donovan sold 6,522 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $43.85, for a total transaction of $285,989.70. Following the completion of the transaction, the chief marketing officer owned 11,544 shares of the company’s stock, valued at approximately $506,204.40. The trade was a 36.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 238,329 shares of company stock worth $9,557,529. Company insiders own 21.30% of the company’s stock.

Institutional Investors Weigh In On Edgewise Therapeutics

Several hedge funds have recently made changes to their positions in the company. Optimize Financial Inc raised its stake in shares of Edgewise Therapeutics by 1.5% in the 4th quarter. Optimize Financial Inc now owns 27,679 shares of the company’s stock valued at $687,000 after acquiring an additional 396 shares in the last quarter. Parallel Advisors LLC boosted its position in Edgewise Therapeutics by 64.9% during the first quarter. Parallel Advisors LLC now owns 1,032 shares of the company’s stock worth $33,000 after purchasing an additional 406 shares during the period. AlphaCentric Advisors LLC grew its holdings in Edgewise Therapeutics by 6.2% during the first quarter. AlphaCentric Advisors LLC now owns 15,615 shares of the company’s stock valued at $492,000 after purchasing an additional 912 shares during the last quarter. Intech Investment Management LLC grew its holdings in Edgewise Therapeutics by 4.1% during the fourth quarter. Intech Investment Management LLC now owns 30,389 shares of the company’s stock valued at $754,000 after purchasing an additional 1,210 shares during the last quarter. Finally, KBC Group NV acquired a new position in Edgewise Therapeutics during the first quarter valued at approximately $49,000.

Edgewise Therapeutics Company Profile

Edgewise Therapeutics, Inc is a clinical-stage biotechnology company focused on developing small-molecule medicines for severe muscle disorders. The company’s research is centered on therapies intended to address the biological mechanisms that contribute to muscle damage and impaired function in diseases affecting skeletal and cardiac muscle.

Edgewise’s lead program is sevasemten (also known as EDG-5506), an orally administered investigational therapy designed to reduce contraction-related muscle injury by selectively modulating fast skeletal muscle contractility.