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

Edgewise Therapeutics (NASDAQ:EWTX) had its target price upped by Truist Financial from $25.00 to $33.00 in a report issued on Thursday morning, Benzinga reports. Truist Financial currently has a buy rating on the stock.

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

Edgewise Therapeutics Price Performance

EWTX stock opened at $29.50 on Thursday. The stock has a market capitalization of $2.76 billion, a P/E ratio of -19.03 and a beta of 0.15. Edgewise Therapeutics has a fifty-two week low of $5.12 and a fifty-two week high of $30.00. The business has a 50-day moving average of $18.73 and a 200-day moving average of $17.96.

Edgewise Therapeutics (NASDAQ:EWTX) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.02. Equities analysts expect that Edgewise Therapeutics will post -1.48 EPS for the current year.

Institutional Investors Weigh In On Edgewise Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of EWTX. Quest Partners LLC grew its holdings in Edgewise Therapeutics by 156.9% during the second quarter. Quest Partners LLC now owns 1,742 shares of the company’s stock worth $31,000 after purchasing an additional 1,064 shares during the period. Ameritas Investment Partners Inc. boosted its stake in shares of Edgewise Therapeutics by 37.3% during the 1st quarter. Ameritas Investment Partners Inc. now owns 5,751 shares of the company’s stock worth $105,000 after acquiring an additional 1,561 shares during the period. Meeder Asset Management Inc. acquired a new position in shares of Edgewise Therapeutics during the 2nd quarter worth approximately $35,000. Quantum Private Wealth LLC increased its holdings in shares of Edgewise Therapeutics by 5.5% during the 1st quarter. Quantum Private Wealth LLC now owns 66,674 shares of the company’s stock worth $1,216,000 after acquiring an additional 3,455 shares during the last quarter. Finally, ProShare Advisors LLC raised its stake in Edgewise Therapeutics by 51.6% in the 1st quarter. ProShare Advisors LLC now owns 16,885 shares of the company’s stock valued at $308,000 after acquiring an additional 5,748 shares during the period.

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.