Edgewise Therapeutics (NASDAQ:EWTX) Given New $31.00 Price Target at JPMorgan Chase & Co.

Edgewise Therapeutics (NASDAQ:EWTX) had its price target increased by JPMorgan Chase & Co. from $30.00 to $31.00 in a research report report published on Monday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Several other equities analysts have also recently commented on EWTX. Piper Sandler reissued an overweight rating and set a $48.00 target price on shares of Edgewise Therapeutics in a research report on Monday, July 1st. Truist Financial reaffirmed a buy rating and issued a $25.00 price target on shares of Edgewise Therapeutics in a report on Wednesday, April 17th. Wedbush reaffirmed an outperform rating and issued a $31.00 price target on shares of Edgewise Therapeutics in a report on Wednesday, June 26th. Finally, Royal Bank of Canada reaffirmed an outperform rating and issued a $32.00 price target on shares of Edgewise Therapeutics in a report on Thursday, July 25th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of Buy and a consensus target price of $33.40.

Edgewise Therapeutics Stock Performance

EWTX stock opened at $17.05 on Monday. The company has a market capitalization of $1.59 billion, a P/E ratio of -11.00 and a beta of 0.14. Edgewise Therapeutics has a 52-week low of $5.12 and a 52-week high of $23.50. The business has a 50-day simple moving average of $18.51 and a two-hundred day simple moving average of $17.87.

Edgewise Therapeutics (NASDAQ:EWTX) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.02. As a group, sell-side analysts forecast that Edgewise Therapeutics will post -1.59 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in EWTX. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Edgewise Therapeutics by 29.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,833 shares of the company’s stock valued at $228,000 after purchasing an additional 4,785 shares in the last quarter. Vontobel Holding Ltd. purchased a new position in Edgewise Therapeutics in the fourth quarter worth $3,586,000. Quantum Private Wealth LLC grew its position in Edgewise Therapeutics by 2.4% in the fourth quarter. Quantum Private Wealth LLC now owns 63,219 shares of the company’s stock worth $692,000 after acquiring an additional 1,500 shares in the last quarter. abrdn plc purchased a new position in Edgewise Therapeutics in the fourth quarter worth $1,646,000. Finally, New York State Common Retirement Fund grew its position in Edgewise Therapeutics by 61.1% in the fourth quarter. New York State Common Retirement Fund now owns 70,693 shares of the company’s stock worth $773,000 after acquiring an additional 26,822 shares in the last quarter.

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.