What is Leerink Partnrs’ Forecast for EWTX FY2024 Earnings?

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) – Investment analysts at Leerink Partnrs increased their FY2024 EPS estimates for shares of Edgewise Therapeutics in a report released on Tuesday, November 12th. Leerink Partnrs analyst J. Schwartz now forecasts that the company will post earnings of ($1.47) per share for the year, up from their prior estimate of ($1.50). The consensus estimate for Edgewise Therapeutics’ current full-year earnings is ($1.46) per share. Leerink Partnrs also issued estimates for Edgewise Therapeutics’ Q4 2024 earnings at ($0.44) EPS, Q1 2025 earnings at ($0.40) EPS, Q2 2025 earnings at ($0.49) EPS, Q3 2025 earnings at ($0.51) EPS, Q4 2025 earnings at ($0.53) EPS, FY2025 earnings at ($1.93) EPS and FY2026 earnings at ($2.04) EPS.

EWTX has been the subject of a number of other research reports. Piper Sandler boosted their price target on shares of Edgewise Therapeutics from $48.00 to $51.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Wedbush lifted their price objective on shares of Edgewise Therapeutics from $44.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. JPMorgan Chase & Co. lifted their price objective on shares of Edgewise Therapeutics from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, August 12th. Truist Financial lifted their price objective on shares of 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 reaffirmed an “outperform” rating and set a $32.00 price objective on shares of Edgewise Therapeutics in a report on Tuesday, September 17th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $38.40.

Edgewise Therapeutics Stock Performance

Shares of EWTX stock opened at $32.87 on Friday. The firm has a fifty day simple moving average of $29.24 and a two-hundred day simple moving average of $22.23. Edgewise Therapeutics has a 12 month low of $5.93 and a 12 month high of $38.12.

Edgewise Therapeutics (NASDAQ:EWTX) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.36) EPS for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.01.

Insider Buying and Selling

In other Edgewise Therapeutics news, CFO R Michael Carruthers sold 125,092 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 6,904 shares of the company’s stock, valued at $197,247.28. This represents a 94.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel John R. Moore sold 50,000 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $28.37, for a total transaction of $1,418,500.00. Following the sale, the general counsel now directly owns 3,252 shares in the company, valued at approximately $92,259.24. This trade represents a 93.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 278,176 shares of company stock valued at $7,893,316. 24.11% of the stock is owned by insiders.

Institutional Investors Weigh In On Edgewise Therapeutics

Several institutional investors have recently added to or reduced their stakes in the business. Fred Alger Management LLC purchased a new stake in Edgewise Therapeutics during the third quarter valued at about $564,000. Braidwell LP bought a new stake in shares of Edgewise Therapeutics during the third quarter valued at about $52,267,000. Walleye Capital LLC bought a new stake in shares of Edgewise Therapeutics during the third quarter valued at about $6,466,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Edgewise Therapeutics by 5.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 84,294 shares of the company’s stock valued at $2,250,000 after buying an additional 4,426 shares during the period. Finally, Ally Bridge Group NY LLC bought a new stake in shares of Edgewise Therapeutics during the third quarter valued at about $5,010,000.

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.