What is HC Wainwright’s Forecast for EWTX FY2030 Earnings?

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) – Research analysts at HC Wainwright dropped their FY2030 earnings per share (EPS) estimates for shares of Edgewise Therapeutics in a report issued on Tuesday, June 2nd. HC Wainwright analyst L. Egana-Gorrono now expects that the company will earn $2.09 per share for the year, down from their previous forecast of $2.30. HC Wainwright currently has a “Buy” rating and a $45.00 target price on the stock. The consensus estimate for Edgewise Therapeutics’ current full-year earnings is ($2.13) per share.

EWTX has been the subject of several other research reports. Piper Sandler reissued an “overweight” rating on shares of Edgewise Therapeutics in a report on Monday, February 9th. Wall Street Zen downgraded shares of Edgewise Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Stifel Nicolaus set a $25.00 price objective on shares of Edgewise Therapeutics in a report on Thursday, February 26th. Royal Bank Of Canada dropped their price objective on shares of Edgewise Therapeutics from $50.00 to $48.00 and set an “outperform” rating for the company in a report on Tuesday. Finally, Wedbush increased their price objective on shares of Edgewise Therapeutics from $46.00 to $52.00 and gave the company an “outperform” rating in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Edgewise Therapeutics has an average rating of “Moderate Buy” and an average target price of $44.22.

Edgewise Therapeutics Stock Performance

Shares of Edgewise Therapeutics stock opened at $37.25 on Wednesday. The company has a market capitalization of $4.01 billion, a P/E ratio of -22.44 and a beta of 0.27. The company has a fifty day moving average of $32.94 and a 200 day moving average of $28.83. Edgewise Therapeutics has a fifty-two week low of $12.15 and a fifty-two week high of $40.76.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its earnings results on Thursday, May 7th. The company reported ($0.46) earnings per share for the quarter, topping the consensus estimate of ($0.50) by $0.04.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Aberdeen Group plc lifted its holdings in shares of Edgewise Therapeutics by 39.8% in the 3rd quarter. Aberdeen Group plc now owns 619,878 shares of the company’s stock valued at $10,054,000 after acquiring an additional 176,559 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Edgewise Therapeutics by 797.9% in the 4th quarter. SG Americas Securities LLC now owns 88,723 shares of the company’s stock valued at $2,202,000 after acquiring an additional 78,842 shares during the last quarter. HighVista Strategies LLC lifted its holdings in shares of Edgewise Therapeutics by 198.5% in the 3rd quarter. HighVista Strategies LLC now owns 208,101 shares of the company’s stock valued at $3,375,000 after acquiring an additional 138,378 shares during the last quarter. GSA Capital Partners LLP lifted its holdings in shares of Edgewise Therapeutics by 315.2% in the 3rd quarter. GSA Capital Partners LLP now owns 113,243 shares of the company’s stock valued at $1,837,000 after acquiring an additional 85,967 shares during the last quarter. Finally, Integral Health Asset Management LLC lifted its holdings in shares of Edgewise Therapeutics by 50.0% in the 3rd quarter. Integral Health Asset Management LLC now owns 1,500,000 shares of the company’s stock valued at $24,330,000 after acquiring an additional 500,000 shares during the last quarter.

Insider Activity at Edgewise Therapeutics

In related news, CMO Joanne M. Donovan sold 50,000 shares of the stock in a transaction dated Tuesday, May 5th. The shares were 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 of the company’s stock, valued at approximately $168,435.19. This trade represents a 91.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 83,892 shares of company stock valued at $3,018,216. 21.30% of the stock is currently owned by company insiders.

Edgewise Therapeutics Company Profile

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.