Edgewise Therapeutics (NASDAQ:EWTX) Given New $51.00 Price Target at Piper Sandler

Edgewise Therapeutics (NASDAQ:EWTX) had its price objective lifted by Piper Sandler from $48.00 to $51.00 in a research report released on Friday, Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other equities analysts have also recently issued reports on EWTX. Wedbush reaffirmed an outperform rating and issued a $31.00 target price on shares of Edgewise Therapeutics in a report on Friday, August 16th. JPMorgan Chase & Co. raised their price objective on Edgewise Therapeutics from $30.00 to $31.00 and gave the stock an overweight rating in a research report on Monday, August 12th. Truist Financial lifted their target price on Edgewise Therapeutics from $25.00 to $33.00 and gave the stock a buy rating in a report on Thursday, September 19th. Finally, Royal Bank of Canada reissued an outperform rating and issued a $32.00 price objective on shares of Edgewise Therapeutics in a research note on Tuesday, September 17th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Edgewise Therapeutics presently has an average rating of Buy and an average price target of $35.60.

Edgewise Therapeutics Stock Up 6.4 %

Shares of EWTX stock opened at $31.92 on Friday. Edgewise Therapeutics has a twelve month low of $5.12 and a twelve month high of $32.32. The company has a market cap of $2.99 billion, a P/E ratio of -20.59 and a beta of 0.20. The business has a fifty day simple moving average of $21.36 and a 200 day simple moving average of $19.25.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its earnings results on Thursday, August 8th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.02. As a group, equities research analysts anticipate that Edgewise Therapeutics will post -1.47 earnings per share for the current fiscal year.

Insider Transactions at Edgewise Therapeutics

In other Edgewise Therapeutics news, General Counsel John R. Moore sold 20,922 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $27.63, for a total value of $578,074.86. Following the completion of the transaction, the general counsel now owns 3,252 shares in the company, valued at $89,852.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Edgewise Therapeutics news, General Counsel John R. Moore sold 20,922 shares of Edgewise Therapeutics stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $27.63, for a total value of $578,074.86. Following the sale, the general counsel now owns 3,252 shares of the company’s stock, valued at approximately $89,852.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO R Michael Carruthers sold 125,092 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $28.57, for a total transaction of $3,573,878.44. Following the transaction, the chief financial officer now directly owns 6,904 shares of the company’s stock, valued at $197,247.28. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 278,176 shares of company stock worth $7,893,316 in the last 90 days. Insiders own 24.11% of the company’s stock.

Institutional Investors Weigh In On Edgewise Therapeutics

Several large investors have recently added to or reduced their stakes in the company. RA Capital Management L.P. bought a new stake in Edgewise Therapeutics during the 1st quarter valued at $162,502,000. Novo Holdings A S bought a new position in shares of Edgewise Therapeutics in the second quarter valued at approximately $114,263,000. Baker BROS. Advisors LP boosted its position in shares of Edgewise Therapeutics by 87.6% in the first quarter. Baker BROS. Advisors LP now owns 5,840,059 shares of the company’s stock valued at $106,523,000 after acquiring an additional 2,727,273 shares during the period. Vanguard Group Inc. grew its stake in Edgewise Therapeutics by 89.0% during the first quarter. Vanguard Group Inc. now owns 4,017,433 shares of the company’s stock valued at $73,278,000 after acquiring an additional 1,892,053 shares in the last quarter. Finally, Frazier Life Sciences Management L.P. increased its holdings in Edgewise Therapeutics by 12.9% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 3,731,067 shares of the company’s stock worth $67,197,000 after acquiring an additional 427,500 shares during the period.

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.