Edgewise Therapeutics’ (EWTX) “Buy” Rating Reaffirmed at HC Wainwright

Edgewise Therapeutics (NASDAQ:EWTX)‘s stock had its “buy” rating reiterated by investment analysts at HC Wainwright in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $45.00 price target on the stock. HC Wainwright’s price objective would indicate a potential upside of 32.28% from the stock’s current price.

A number of other analysts also recently commented on the company. Truist Financial set a $52.00 target price on Edgewise Therapeutics in a research note on Wednesday, May 6th. Wedbush boosted their price target on Edgewise Therapeutics from $46.00 to $52.00 and gave the company an “outperform” rating in a report on Monday, June 1st. Stifel Nicolaus set a $25.00 price objective on Edgewise Therapeutics in a research report on Thursday, February 26th. JPMorgan Chase & Co. raised their price objective on shares of Edgewise Therapeutics from $34.00 to $45.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 17th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Edgewise Therapeutics in a report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $44.22.

Edgewise Therapeutics Stock Performance

Shares of Edgewise Therapeutics stock traded down $1.19 during trading on Tuesday, hitting $34.02. 4,089,730 shares of the company’s stock were exchanged, compared to its average volume of 1,130,152. The stock has a market capitalization of $3.66 billion, a price-to-earnings ratio of -20.53 and a beta of 0.27. The business has a 50-day simple moving average of $33.74 and a 200-day simple moving average of $29.73. Edgewise Therapeutics has a 52-week low of $12.15 and a 52-week high of $40.76.

Edgewise Therapeutics (NASDAQ:EWTX) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.46) EPS for the quarter, beating the consensus estimate of ($0.50) by $0.04. On average, equities analysts anticipate that Edgewise Therapeutics will post -2.01 earnings per share for the current fiscal year.

Insider Buying and Selling at Edgewise Therapeutics

In related news, CMO Joanne M. Donovan sold 50,000 shares of Edgewise Therapeutics stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $38.57, for a total value of $1,928,500.00. Following the completion of the transaction, the chief marketing officer owned 4,367 shares in the company, valued at $168,435.19. The trade was a 91.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders sold 83,892 shares of company stock valued at $3,018,216. 21.30% of the stock is owned by insiders.

Institutional Trading of Edgewise Therapeutics

Several institutional investors have recently bought and sold shares of EWTX. Parallel Advisors LLC increased its position in shares of Edgewise Therapeutics by 64.9% in the first quarter. Parallel Advisors LLC now owns 1,032 shares of the company’s stock valued at $33,000 after buying an additional 406 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of Edgewise Therapeutics during the 2nd quarter valued at approximately $45,000. Jones Financial Companies Lllp acquired a new stake in Edgewise Therapeutics in the 1st quarter valued at $47,000. KBC Group NV purchased a new stake in Edgewise Therapeutics in the 1st quarter worth $49,000. Finally, Seven Fleet Capital Management LP purchased a new stake in Edgewise Therapeutics in the 4th quarter worth $50,000.

About Edgewise Therapeutics

Edgewise Therapeutics, Inc (NASDAQ: EWTX) is a clinical-stage biopharmaceutical company headquartered in Cambridge, Massachusetts, focused on the discovery and development of precision medicines for the treatment of rare diseases. The company leverages its expertise in small-molecule chemistry and ion channel biology to address severe, unmet medical needs, particularly in the areas of kidney disorders and neuromuscular diseases.

At the core of Edgewise’s pipeline is EWTX-101, a novel, orally available inhibitor of TRPC5, a calcium channel implicated in nephrotic syndromes such as focal segmental glomerulosclerosis (FSGS) and other proteinuric kidney diseases.