Edgewise Therapeutics (NASDAQ:EWTX) Price Target Raised to $33.00

Edgewise Therapeutics (NASDAQ:EWTX) had its price objective hoisted by Truist Financial from $25.00 to $33.00 in a research report report published on Thursday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts have also recently issued reports on the company. Royal Bank of Canada reaffirmed an outperform rating and issued a $32.00 price objective on shares of Edgewise Therapeutics in a research report on Tuesday, September 17th. JPMorgan Chase & Co. upped their price target on Edgewise Therapeutics from $30.00 to $31.00 and gave the company an overweight rating in a report on Monday, August 12th. Wedbush reiterated an outperform rating and issued a $31.00 price objective on shares of Edgewise Therapeutics in a report on Friday, August 16th. Finally, Piper Sandler reissued an overweight rating and issued a $48.00 target price on shares of Edgewise Therapeutics in a research report on Monday, July 1st. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Edgewise Therapeutics has an average rating of Buy and a consensus price target of $35.00.

Edgewise Therapeutics Price Performance

EWTX opened at $28.28 on Thursday. The firm has a market cap of $2.64 billion, a PE ratio of -18.25 and a beta of 0.15. The stock has a 50-day moving average price of $18.99 and a 200-day moving average price of $18.13. Edgewise Therapeutics has a 1 year low of $5.12 and a 1 year high of $30.00.

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 the consensus estimate of ($0.36) by $0.02. As a group, sell-side analysts anticipate that Edgewise Therapeutics will post -1.48 EPS for the current year.

Institutional Trading of Edgewise Therapeutics

A number of hedge funds have recently bought and sold shares of EWTX. RA Capital Management L.P. purchased a new stake in shares of Edgewise Therapeutics during the 1st quarter valued at about $162,502,000. Novo Holdings A S bought a new position in Edgewise Therapeutics in the second quarter worth approximately $114,263,000. Baker BROS. Advisors LP boosted its stake in shares of Edgewise Therapeutics by 87.6% during the 1st 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 during the last quarter. Vanguard Group Inc. grew its position in shares of Edgewise Therapeutics by 89.0% during the 1st 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 during the period. Finally, Frazier Life Sciences Management L.P. increased its stake in shares of Edgewise Therapeutics by 214.2% in the 4th quarter. Frazier Life Sciences Management L.P. now owns 2,667,203 shares of the company’s stock worth $29,179,000 after purchasing an additional 1,818,181 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.