Leerink Partnrs Has Strong Estimate for EWTX FY2024 Earnings

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) – Leerink Partnrs lifted their FY2024 earnings estimates for shares of Edgewise Therapeutics in a research note issued on Tuesday, November 12th. Leerink Partnrs analyst J. Schwartz now anticipates that the company will post earnings of ($1.47) per share for the year, up from their prior forecast 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 several other research reports. Wedbush upped their target price on Edgewise Therapeutics from $44.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Truist Financial upped their price objective on shares of Edgewise Therapeutics from $25.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Piper Sandler lifted their price objective on Edgewise Therapeutics from $48.00 to $51.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Royal Bank of Canada restated an “outperform” rating and set a $32.00 target price on shares of Edgewise Therapeutics in a report on Tuesday, September 17th. Finally, JPMorgan Chase & Co. lifted their price target on Edgewise Therapeutics from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Monday, August 12th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, Edgewise Therapeutics currently has an average rating of “Buy” and an average target price of $38.40.

Edgewise Therapeutics Price Performance

Shares of NASDAQ:EWTX opened at $31.44 on Friday. The company’s fifty day moving average price is $29.52 and its 200-day moving average price is $22.33. The firm has a market capitalization of $2.98 billion, a price-to-earnings ratio of -20.96 and a beta of 0.14. Edgewise Therapeutics has a one year low of $5.93 and a one year high of $38.12.

Edgewise Therapeutics (NASDAQ:EWTX) last posted its earnings results on Thursday, November 7th. The company reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.01.

Institutional Trading of Edgewise Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the company. Barclays PLC boosted its stake in Edgewise Therapeutics by 291.0% in the 3rd quarter. Barclays PLC now owns 119,350 shares of the company’s stock worth $3,186,000 after purchasing an additional 88,826 shares during the period. Orion Portfolio Solutions LLC purchased a new position in shares of Edgewise Therapeutics in the third quarter worth $347,000. XTX Topco Ltd bought a new position in shares of Edgewise Therapeutics during the third quarter worth $755,000. State Street Corp grew its stake in Edgewise Therapeutics by 1.2% during the third quarter. State Street Corp now owns 1,685,115 shares of the company’s stock valued at $44,976,000 after acquiring an additional 20,020 shares in the last quarter. Finally, Parkman Healthcare Partners LLC increased its holdings in Edgewise Therapeutics by 14.4% in the 3rd quarter. Parkman Healthcare Partners LLC now owns 657,070 shares of the company’s stock valued at $17,537,000 after acquiring an additional 82,553 shares during the last quarter.

Insider Activity at Edgewise Therapeutics

In related news, insider Alan J. Russell sold 75,000 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $28.27, for a total transaction of $2,120,250.00. Following the completion of the sale, the insider now owns 12,719 shares in the company, valued at approximately $359,566.13. This represents a 85.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Joanne M. Donovan sold 7,162 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $28.29, for a total transaction of $202,612.98. Following the sale, the chief marketing officer now directly owns 14,538 shares of the company’s stock, valued at $411,280.02. The trade was a 33.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 278,176 shares of company stock valued at $7,893,316 over the last 90 days. Corporate insiders own 24.11% of the company’s stock.

Edgewise Therapeutics Company Profile

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.