HC Wainwright Has Bearish Estimate for EWTX FY2028 Earnings

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) – Equities research analysts at HC Wainwright lowered their FY2028 EPS estimates for shares of Edgewise Therapeutics in a research report issued to clients and investors on Tuesday, June 2nd. HC Wainwright analyst L. Egana-Gorrono now expects that the company will post earnings of ($2.08) per share for the year, down from their prior estimate of ($2.05). HC Wainwright has a “Buy” rating and a $45.00 price target on the stock. The consensus estimate for Edgewise Therapeutics’ current full-year earnings is ($2.13) per share. HC Wainwright also issued estimates for Edgewise Therapeutics’ FY2029 earnings at ($1.17) EPS.

Edgewise Therapeutics (NASDAQ:EWTX) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.46) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.04.

Other equities analysts also recently issued reports about the stock. Evercore reaffirmed an “outperform” rating and set a $45.00 price objective on shares of Edgewise Therapeutics in a research note on Thursday, February 26th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $66.00 price objective on shares of Edgewise Therapeutics in a research note on Monday. Wedbush upped their price objective on shares of Edgewise Therapeutics from $46.00 to $52.00 and gave the company an “outperform” rating in a research note on Monday. Truist Financial set a $52.00 price objective on shares of Edgewise Therapeutics in a research note on Wednesday, May 6th. Finally, Wall Street Zen downgraded shares of Edgewise Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $44.22.

Edgewise Therapeutics Stock Down 2.7%

Edgewise Therapeutics stock opened at $36.26 on Thursday. The company has a market capitalization of $3.90 billion, a PE ratio of -21.84 and a beta of 0.27. The firm has a fifty day simple moving average of $33.24 and a two-hundred day simple moving average of $29.05. Edgewise Therapeutics has a twelve month low of $12.15 and a twelve month high of $40.76.

Institutional Investors Weigh In On Edgewise Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Aberdeen Group plc grew its holdings in shares of Edgewise Therapeutics by 39.8% during the third quarter. Aberdeen Group plc now owns 619,878 shares of the company’s stock valued at $10,054,000 after buying an additional 176,559 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Edgewise Therapeutics by 797.9% during the fourth quarter. SG Americas Securities LLC now owns 88,723 shares of the company’s stock valued at $2,202,000 after buying an additional 78,842 shares during the last quarter. HighVista Strategies LLC grew its holdings in shares of Edgewise Therapeutics by 198.5% during the third quarter. HighVista Strategies LLC now owns 208,101 shares of the company’s stock valued at $3,375,000 after buying an additional 138,378 shares during the last quarter. GSA Capital Partners LLP grew its holdings in shares of Edgewise Therapeutics by 315.2% during the third quarter. GSA Capital Partners LLP now owns 113,243 shares of the company’s stock valued at $1,837,000 after buying an additional 85,967 shares during the last quarter. Finally, Integral Health Asset Management LLC grew its holdings in shares of Edgewise Therapeutics by 50.0% during the third quarter. Integral Health Asset Management LLC now owns 1,500,000 shares of the company’s stock valued at $24,330,000 after buying an additional 500,000 shares during the last quarter.

Insiders Place Their Bets

In other Edgewise Therapeutics news, CMO Joanne M. Donovan sold 50,000 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $38.57, for a total value of $1,928,500.00. Following the sale, the chief marketing officer owned 4,367 shares in the company, valued at approximately $168,435.19. This represents a 91.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 83,892 shares of company stock valued at $3,018,216 in the last 90 days. 21.30% of the stock is currently owned by corporate insiders.

Edgewise Therapeutics Company Profile

Edgewise Therapeutics, Inc (NASDAQ: EWTX) is a clinical-stage biopharmaceutical company headquartered in Cambridge, Massachusetts, focused on the discovery and development of precision medicines for the treatment of rare diseases. The company leverages its expertise in small-molecule chemistry and ion channel biology to address severe, unmet medical needs, particularly in the areas of kidney disorders and neuromuscular diseases.

At the core of Edgewise’s pipeline is EWTX-101, a novel, orally available inhibitor of TRPC5, a calcium channel implicated in nephrotic syndromes such as focal segmental glomerulosclerosis (FSGS) and other proteinuric kidney diseases.