Edgewise Therapeutics (EWTX) Expected to Announce Quarterly Earnings on Thursday

Edgewise Therapeutics (NASDAQ:EWTX) is projected to announce its earnings results before the market opens on Thursday, February 27th. Analysts expect the company to announce earnings of ($0.39) per share for the quarter.

Edgewise Therapeutics Price Performance

EWTX opened at $25.08 on Wednesday. The stock has a market cap of $2.37 billion, a P/E ratio of -16.72 and a beta of 0.20. The stock’s 50 day simple moving average is $27.33 and its 200 day simple moving average is $27.48. Edgewise Therapeutics has a 1-year low of $14.90 and a 1-year high of $38.12.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on EWTX shares. Evercore ISI upped their price target on Edgewise Therapeutics from $45.00 to $50.00 and gave the stock an “outperform” rating in a report on Tuesday, December 17th. Stifel Nicolaus assumed coverage on Edgewise Therapeutics in a research note on Wednesday, January 22nd. They issued a “hold” rating and a $30.00 target price on the stock. Wedbush upped their target price on Edgewise Therapeutics from $44.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Finally, Truist Financial upped their target price on Edgewise Therapeutics from $33.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Edgewise Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $41.29.

Insiders Place Their Bets

In other Edgewise Therapeutics news, insider Marc Semigran sold 29,709 shares of the stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $29.69, for a total transaction of $882,060.21. Following the transaction, the insider now owns 6,716 shares of the company’s stock, valued at $199,398.04. This represents a 81.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Alan J. Russell sold 100,000 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $27.37, for a total value of $2,737,000.00. Following the transaction, the insider now directly owns 14,863 shares in the company, valued at approximately $406,800.31. This represents a 87.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 164,545 shares of company stock valued at $4,605,305 in the last quarter. 24.11% of the stock is currently owned by company 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.