Leerink raised the firm’s price target on Edgewise Therapeutics (EWTX) to $50 from $44 and keeps an Outperform rating on the shares after the company announced the Phase 2 CANYON trial of sevasemten in individuals with Becker muscular dystrophy achieved its primary endpoint. Following the data, the firm is increasing its view of the odds of success in BMD to 75% from 45% previously, which drives its increased price target
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Read More on EWTX:
- Morning Movers: Viridian and Edgewise jump following successful trials
- Edgewise reports CANYON Phase 2 trial of sevasemten meets primary endpoint
- Edgewise weakness on FDA warning letter ‘unwarranted,’ says RBC Capital
- Edgewise says FDA warning letter unrelated to any Edgewise clinical trial, data
- Edgewise moves off lows after stating FDA warning unrelated to company
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