Edgewise Therapeutics (NASDAQ:EWTX – Get Free Report)‘s stock had its “outperform” rating reiterated by stock analysts at Wedbush in a research note issued to investors on Friday, Benzinga reports. They currently have a $31.00 target price on the stock. Wedbush’s price target indicates a potential upside of 66.58% from the company’s previous close.
Several other research analysts have also issued reports on EWTX. JPMorgan Chase & Co. increased their target price on shares of Edgewise Therapeutics from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Monday. Royal Bank of Canada reissued an “outperform” rating and set a $32.00 target price on shares of Edgewise Therapeutics in a research note on Thursday, July 25th. Finally, Piper Sandler reissued an “overweight” rating and set a $48.00 target price on shares of Edgewise Therapeutics in a research note on Monday, July 1st. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Edgewise Therapeutics currently has an average rating of “Buy” and a consensus price target of $33.40.
Get Our Latest Analysis on EWTX
Edgewise Therapeutics Stock Performance
Edgewise Therapeutics (NASDAQ:EWTX – Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.34) EPS for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.02. On average, research analysts forecast that Edgewise Therapeutics will post -1.59 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the business. Quest Partners LLC lifted its stake in shares of Edgewise Therapeutics by 156.9% in the second quarter. Quest Partners LLC now owns 1,742 shares of the company’s stock valued at $31,000 after buying an additional 1,064 shares in the last quarter. Meeder Asset Management Inc. bought a new position in shares of Edgewise Therapeutics in the second quarter valued at $35,000. Ameritas Investment Partners Inc. lifted its stake in shares of Edgewise Therapeutics by 37.3% in the first quarter. Ameritas Investment Partners Inc. now owns 5,751 shares of the company’s stock valued at $105,000 after buying an additional 1,561 shares in the last quarter. AJOVista LLC purchased a new stake in shares of Edgewise Therapeutics in the fourth quarter valued at about $84,000. Finally, Arizona State Retirement System purchased a new stake in shares of Edgewise Therapeutics in the second quarter valued at about $188,000.
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.
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