Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Receives $42.33 Consensus Target Price from Analysts

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) has received an average recommendation of “Buy” from the six analysts that are presently covering the firm, Marketbeat.com reports. Six analysts have rated the stock with a buy rating. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $43.17.

Several equities research analysts have recently commented on EWTX shares. Royal Bank of Canada reissued an “outperform” rating and issued a $32.00 target price on shares of Edgewise Therapeutics in a research note on Tuesday, September 17th. Evercore ISI boosted their price objective on Edgewise Therapeutics from $45.00 to $50.00 and gave the stock an “outperform” rating in a report on Tuesday, December 17th. Wedbush raised their target price on shares of Edgewise Therapeutics from $44.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Piper Sandler boosted their price target on shares of Edgewise Therapeutics from $48.00 to $51.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Finally, Truist Financial lifted their target price on shares of Edgewise Therapeutics from $33.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Sofinnova Investments Inc. acquired a new position in Edgewise Therapeutics in the second quarter valued at about $8,567,000. Federated Hermes Inc. bought a new position in Edgewise Therapeutics in the second quarter valued at approximately $833,000. Ally Bridge Group NY LLC bought a new stake in shares of Edgewise Therapeutics during the third quarter worth $5,010,000. abrdn plc bought a new stake in Edgewise Therapeutics in the 3rd quarter valued at $6,850,000. Finally, Novo Holdings A S bought a new position in Edgewise Therapeutics during the 2nd quarter worth about $114,263,000.

Edgewise Therapeutics Stock Down 2.6 %

Shares of NASDAQ EWTX opened at $29.98 on Tuesday. Edgewise Therapeutics has a 12-month low of $9.00 and a 12-month high of $38.12. The firm’s 50-day simple moving average is $32.81 and its 200 day simple moving average is $24.66. The company has a market cap of $2.84 billion, a price-to-earnings ratio of -19.99 and a beta of 0.12.

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

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.