Edgewise Therapeutics initiated with an Outperform at Evercore ISI

Evercore ISI initiated coverage of Edgewise Therapeutics (EWTX) with an Outperform rating and $45 price target The pipeline offers two “compelling assets” with multiple, near-term clinical readouts: sevasemten for Becker muscular dystrophy, or BMD, and Duchenne muscular dystrophy, or DMD, and EDG7500 for obstructive and non-obstructive hypertrophic cardiomyopathy, or HCM, the analyst tells investors. Both have demonstrated “promising early data” and each have multi-billion dollar sales potential, the analyst added.