Edgewise Therapeutics price target raised to $32 from $28 at RBC Capital

RBC Capital analyst Leonid Timashev raised the firm’s price target on Edgewise Therapeutics to $32 from $28 and keeps an Outperform rating on the shares. The firm is positive on the company’s EDG-7500 cardiac program, citing its new mechanism, wide therapeutic window, and robust safety and efficacy in preclinical models that can enable clinical success in Q3 when the first data in human patients and volunteers is released, the analyst tells investors in a research note. Investors are split between seeing ‘5506 or ‘7500 as the major driver for Edgewise Therapeutics, but the firm likes both programs and believes that each helps cap the downside for the other, RBC adds.