Wedbush Reduces Earnings Estimates for Edgewise Therapeutics

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) – Stock analysts at Wedbush dropped their FY2026 earnings per share (EPS) estimates for shares of Edgewise Therapeutics in a research note issued on Monday, March 3rd. Wedbush analyst L. Chico now expects that the company will post earnings per share of ($2.25) for the year, down from their previous forecast of ($2.24). Wedbush currently has a “Outperform” rating and a $45.00 price objective on the stock. The consensus estimate for Edgewise Therapeutics’ current full-year earnings is ($1.45) per share. Wedbush also issued estimates for Edgewise Therapeutics’ FY2029 earnings at $3.99 EPS.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its quarterly earnings results on Monday, March 3rd. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.03).

A number of other equities analysts also recently commented on the stock. Evercore ISI increased their price objective on shares of Edgewise Therapeutics from $45.00 to $50.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 17th. Royal Bank of Canada reissued an “outperform” rating and set a $56.00 price target on shares of Edgewise Therapeutics in a research report on Tuesday. Truist Financial raised their price target on Edgewise Therapeutics from $33.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Finally, Stifel Nicolaus began coverage on Edgewise Therapeutics in a report on Wednesday, January 22nd. They issued a “hold” rating and a $30.00 price objective for the company. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $44.71.

Edgewise Therapeutics Trading Up 9.0 %

Shares of EWTX opened at $26.71 on Thursday. Edgewise Therapeutics has a 12 month low of $14.90 and a 12 month high of $38.12. The firm has a fifty day simple moving average of $26.81 and a 200 day simple moving average of $27.76. The stock has a market capitalization of $2.53 billion, a price-to-earnings ratio of -17.81 and a beta of 0.20.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Braidwell LP acquired a new stake in Edgewise Therapeutics during the third quarter worth approximately $52,267,000. Janus Henderson Group PLC increased its stake in shares of Edgewise Therapeutics by 74.8% during the third quarter. Janus Henderson Group PLC now owns 4,558,519 shares of the company’s stock worth $121,616,000 after purchasing an additional 1,951,220 shares during the period. Paradigm Biocapital Advisors LP increased its stake in shares of Edgewise Therapeutics by 61.1% during the fourth quarter. Paradigm Biocapital Advisors LP now owns 4,493,929 shares of the company’s stock worth $119,988,000 after purchasing an additional 1,704,757 shares during the period. First Light Asset Management LLC acquired a new stake in Edgewise Therapeutics during the 4th quarter worth approximately $20,843,000. Finally, Foresite Capital Management VI LLC bought a new stake in Edgewise Therapeutics in the 4th quarter valued at $15,620,000.

Insider Activity

In other Edgewise Therapeutics news, insider Marc Semigran sold 29,709 shares of the company’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $29.69, for a total value of $882,060.21. Following the transaction, the insider now directly owns 6,716 shares in the company, valued at $199,398.04. The trade was a 81.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Alan J. Russell sold 100,000 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $27.37, for a total transaction of $2,737,000.00. Following the completion of the transaction, the insider now directly owns 14,863 shares in the company, valued at $406,800.31. The trade was a 87.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 164,545 shares of company stock valued at $4,605,305 over the last three months. Insiders own 24.11% of the company’s stock.

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.