HC Wainwright Has Bearish Estimate for EWTX FY2028 Earnings

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) – Research analysts at HC Wainwright dropped their FY2028 earnings per share estimates for shares of Edgewise Therapeutics in a research report issued on Friday, November 6th. HC Wainwright analyst L. Egana-Gorrono now anticipates that the company will post earnings per share of ($2.63) for the year, down from their prior estimate of ($2.15). HC Wainwright has a “Buy” rating on the stock. The consensus estimate for Edgewise Therapeutics’ current full-year earnings is $6.92 per share. HC Wainwright also issued estimates for Edgewise Therapeutics’ FY2029 earnings at ($2.83) EPS and FY2030 earnings at ($1.70) EPS.

Edgewise Therapeutics (NASDAQ:EWTX) last released its earnings results on Wednesday, November 4th. The company reported $9.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.53) by $10.18.

A number of other equities analysts have also weighed in on EWTX. Evercore restated an “outperform” rating and set a $55.00 price target on shares of Edgewise Therapeutics in a research report on Monday, July 20th. Wall Street Zen upgraded shares of Edgewise Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, October 4th. Raymond James Financial reissued an “underperform” rating and issued a $85.00 target price on shares of Edgewise Therapeutics in a research note on Thursday, November 5th. JPMorgan Chase & Co. raised their target price on shares of Edgewise Therapeutics from $53.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday, August 20th. Finally, William Blair started coverage on Edgewise Therapeutics in a report on Friday, October 16th. They set an “outperform” rating on the stock. Nine analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Edgewise Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $52.83.

Edgewise Therapeutics Stock Down 4.5%

Shares of NASDAQ EWTX opened at $46.53 on Wednesday. The firm has a 50-day simple moving average of $41.07 and a 200-day simple moving average of $36.72. The stock has a market capitalization of $5.09 billion, a price-to-earnings ratio of 5.68 and a beta of 0.39. Edgewise Therapeutics has a 52 week low of $18.10 and a 52 week high of $48.78.

Insider Transactions at Edgewise Therapeutics

In other news, CMO Joanne M. Donovan sold 2,919 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $43.41, for a total value of $126,713.79. Following the transaction, the chief marketing officer directly owned 8,625 shares in the company, valued at approximately $374,411.25. This represents a 25.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Michael Nofi sold 4,442 shares of the company’s stock in a transaction that occurred on Tuesday, November 10th. The stock was sold at an average price of $45.43, for a total transaction of $201,800.06. Following the completion of the transaction, the chief financial officer owned 6,495 shares in the company, valued at approximately $295,067.85. This represents a 40.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 21.30% of the stock is owned by company insiders.

Institutional Trading of Edgewise Therapeutics

Several institutional investors have recently added to or reduced their stakes in EWTX. Hsbc Holdings PLC acquired a new position in Edgewise Therapeutics during the second quarter worth $3,723,000. Janus Henderson Group PLC boosted its position in shares of Edgewise Therapeutics by 29.5% during the first quarter. Janus Henderson Group PLC now owns 5,915,556 shares of the company’s stock worth $186,289,000 after buying an additional 1,348,706 shares during the period. The Manufacturers Life Insurance Company purchased a new position in shares of Edgewise Therapeutics during the second quarter worth $1,656,000. Persistent Asset Partners Ltd purchased a new position in shares of Edgewise Therapeutics during the second quarter worth $2,821,000. Finally, California State Teachers Retirement System grew its stake in shares of Edgewise Therapeutics by 45.7% in the first quarter. California State Teachers Retirement System now owns 73,419 shares of the company’s stock valued at $2,313,000 after buying an additional 23,027 shares in the last quarter.

Edgewise Therapeutics Company Profile

Edgewise Therapeutics is a clinical-stage biopharmaceutical company focused on developing therapies for serious muscle disorders. Founded in 2017 and based in Boulder, Colorado, the company researches small-molecule treatments designed to address the underlying biology of muscle and cardiac conditions. Its programs include sevasemten, an investigational therapy for Duchenne and Becker muscular dystrophies, and EDG-7500, an investigational treatment being developed for hypertrophic cardiomyopathy.