Research Analysts Offer Predictions for EWTX FY2024 Earnings

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) – Research analysts at Leerink Partnrs lifted their FY2024 earnings per share (EPS) estimates for Edgewise Therapeutics in a report issued on Tuesday, November 12th. Leerink Partnrs analyst J. Schwartz now anticipates that the company will post earnings per share of ($1.47) for the year, up from their previous 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.

Edgewise Therapeutics (NASDAQ:EWTX) last announced its 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.

A number of other equities 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 report on Monday, August 12th. Truist Financial increased their price objective on Edgewise Therapeutics from $25.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Wedbush boosted 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. Piper Sandler increased their price target on Edgewise Therapeutics from $48.00 to $51.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $32.00 price objective on shares of Edgewise Therapeutics in a research note on Tuesday, September 17th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Edgewise Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $38.40.

Edgewise Therapeutics Stock Performance

Shares of EWTX opened at $31.44 on Friday. The company’s 50-day simple moving average is $29.52 and its 200-day simple moving average is $22.37. Edgewise Therapeutics has a 1 year low of $5.93 and a 1 year high of $38.12. The stock has a market capitalization of $2.98 billion, a PE ratio of -20.96 and a beta of 0.14.

Institutional Trading of Edgewise Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in EWTX. RA Capital Management L.P. purchased a new position in Edgewise Therapeutics during the 1st quarter worth approximately $162,502,000. Novo Holdings A S acquired a new stake in shares of Edgewise Therapeutics in the second quarter valued at approximately $114,263,000. Baker BROS. Advisors LP grew its position in shares of Edgewise Therapeutics by 87.6% during 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 during the last quarter. Janus Henderson Group PLC increased its holdings in shares of Edgewise Therapeutics by 74.8% in the 3rd quarter. Janus Henderson Group PLC now owns 4,558,519 shares of the company’s stock valued at $121,616,000 after acquiring an additional 1,951,220 shares during the period. Finally, Vanguard Group Inc. raised its position in Edgewise Therapeutics by 89.0% in the 1st quarter. Vanguard Group Inc. now owns 4,017,433 shares of the company’s stock valued at $73,278,000 after purchasing an additional 1,892,053 shares during the last quarter.

Insider Activity at Edgewise Therapeutics

In related news, General Counsel John R. Moore sold 20,922 shares of Edgewise Therapeutics stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $27.63, for a total transaction of $578,074.86. Following the sale, the general counsel now directly owns 3,252 shares in the company, valued at $89,852.76. This trade represents a 86.55 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO R Michael Carruthers sold 125,092 shares of the business’s stock in a transaction on 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 completion of the sale, the chief financial officer now directly owns 6,904 shares of the company’s stock, valued at approximately $197,247.28. This trade represents a 94.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 278,176 shares of company stock valued at $7,893,316 over the last quarter. 24.11% of the stock is owned by insiders.

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.