Edgewise Therapeutics, Inc. (NASDAQ:EWTX – Get Free Report)’s stock price rose 5.7% during trading on Monday after JPMorgan Chase & Co. raised their price target on the stock from $30.00 to $31.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Edgewise Therapeutics traded as high as $17.50 and last traded at $17.38. Approximately 245,426 shares were traded during trading, a decline of 72% from the average daily volume of 864,325 shares. The stock had previously closed at $16.45.
A number of other analysts also recently issued reports on the stock. Truist Financial reaffirmed a “buy” rating and set a $25.00 price objective on shares of Edgewise Therapeutics in a report on Wednesday, April 17th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $32.00 price target on shares of Edgewise Therapeutics in a research note on Thursday, July 25th. Piper Sandler reiterated an “overweight” rating and set a $48.00 price objective on shares of Edgewise Therapeutics in a research report on Monday, July 1st. Finally, Wedbush restated an “outperform” rating and issued a $31.00 target price on shares of Edgewise Therapeutics in a research report on Wednesday, June 26th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $33.40.
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Institutional Investors Weigh In On Edgewise Therapeutics
Edgewise Therapeutics Price Performance
The company has a market cap of $1.59 billion, a PE ratio of -10.54 and a beta of 0.14. The business has a 50 day moving average of $18.54 and a 200 day moving average of $17.86.
Edgewise Therapeutics (NASDAQ:EWTX – Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.36) by $0.02. Sell-side analysts forecast that Edgewise Therapeutics, Inc. will post -1.59 EPS for the current fiscal year.
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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