Edgewise Therapeutics (EWTX) Gets a Buy from RBC Capital

RBC Capital analyst Leonid Timashev maintained a Buy rating on Edgewise Therapeutics (EWTX – Research Report) yesterday and set a price target of $32.00. The company’s shares closed yesterday at $20.00.

Timashev covers the Healthcare sector, focusing on stocks such as Edgewise Therapeutics, Biohaven Ltd., and Axsome Therapeutics. According to TipRanks, Timashev has an average return of 17.4% and a 40.00% success rate on recommended stocks.

Edgewise Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $35.33.

Based on Edgewise Therapeutics’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $30.14 million. In comparison, last year the company had a GAAP net loss of $19.42 million

Based on the recent corporate insider activity of 22 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of EWTX in relation to earlier this year. Most recently, in February 2024, John R. Moore, the GC of EWTX sold 29,835.00 shares for a total of $596,700.00.

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Edgewise Therapeutics (EWTX) Company Description:

Edgewise Therapeutics Inc is a clinical-stage biopharmaceutical company. It is focused on the discovery, development and commercialization of innovative treatments for severe, rare muscle disorders. It is developing orally bioavailable, small molecule therapies for musculoskeletal diseases.