Leerink Partners analyst Joseph Schwartz has reiterated their bullish stance on EWTX stock, giving a Buy rating on March 3.
Joseph Schwartz has given his Buy rating due to a combination of factors, primarily focusing on Edgewise Therapeutics’ promising pipeline developments and upcoming data readouts. The company is on track to release significant data for their EDG-7500 program in hypertrophic cardiomyopathy (HCM) this quarter, which is anticipated to capture investor interest. Additionally, there are crucial updates expected for their sevasemten program in Becker muscular dystrophy (BMD) and Duchenne muscular dystrophy (DMD) in the first half of 2025.
The potential for accelerated approval in BMD is particularly noteworthy, as the company has completed enrollment in the GRAND CANYON study with a higher than expected number of participants, enhancing the study’s power. Furthermore, the high enrollment rate in the open-label extension (OLE) study indicates strong patient interest, which could positively influence regulatory discussions. While the path for sevasemten in DMD is less defined, the upcoming LYNX/FOX study readouts are expected to provide clarity and guide future Phase 3 plans, reinforcing the Buy rating for Edgewise Therapeutics.
In another report released on March 3, Evercore ISI also maintained a Buy rating on the stock with a $50.00 price target.
EWTX’s price has also changed dramatically for the past six months – from $17.880 to $25.530, which is a 42.79% increase.