Edgewise Therapeutics (NASDAQ:EWTX) Price Target Raised to $31.00

Edgewise Therapeutics (NASDAQ:EWTX) had its price objective hoisted by JPMorgan Chase & Co. from $30.00 to $31.00 in a report released on Monday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

EWTX has been the subject of several other reports. Piper Sandler reissued an overweight rating and issued a $48.00 price objective on shares of Edgewise Therapeutics in a report on Monday, July 1st. Wedbush restated an outperform rating and set a $31.00 price target on shares of Edgewise Therapeutics in a research note on Wednesday, June 26th. Truist Financial restated a buy rating and set a $25.00 price target on shares of Edgewise Therapeutics in a research note on Wednesday, April 17th. Finally, Royal Bank of Canada restated an outperform rating and set a $32.00 price target on shares of Edgewise Therapeutics in a research note on Thursday, July 25th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, Edgewise Therapeutics presently has a consensus rating of Buy and a consensus price target of $33.40.

Edgewise Therapeutics Trading Down 0.2 %

EWTX stock opened at $17.05 on Monday. The company has a market capitalization of $1.59 billion, a P/E ratio of -11.00 and a beta of 0.14. Edgewise Therapeutics has a twelve month low of $5.12 and a twelve month high of $23.50. The business has a 50 day simple moving average of $18.51 and a 200-day simple moving average of $17.87.

Edgewise Therapeutics (NASDAQ:EWTX) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.34) earnings per share for the quarter, beating the consensus estimate of ($0.36) by $0.02. Research analysts predict that Edgewise Therapeutics will post -1.59 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. RA Capital Management L.P. purchased a new position in Edgewise Therapeutics in the first quarter worth $162,502,000. Baker BROS. Advisors LP raised its position in Edgewise Therapeutics by 87.6% in the first quarter. Baker BROS. Advisors LP now owns 5,840,059 shares of the company’s stock worth $106,523,000 after acquiring an additional 2,727,273 shares in the last quarter. Vanguard Group Inc. raised its position in Edgewise Therapeutics by 89.0% in the first quarter. Vanguard Group Inc. now owns 4,017,433 shares of the company’s stock worth $73,278,000 after acquiring an additional 1,892,053 shares in the last quarter. Frazier Life Sciences Management L.P. raised its position in Edgewise Therapeutics by 214.2% in the fourth quarter. Frazier Life Sciences Management L.P. now owns 2,667,203 shares of the company’s stock worth $29,179,000 after acquiring an additional 1,818,181 shares in the last quarter. Finally, Janus Henderson Group PLC raised its position in Edgewise Therapeutics by 48.6% in the first quarter. Janus Henderson Group PLC now owns 1,805,312 shares of the company’s stock worth $32,898,000 after acquiring an additional 590,299 shares in the last quarter.

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.