Truist starts Edgewise Therapeutics at Buy on encouraging data from EDG-5506

Truist initiated coverage of Edgewise Therapeutics with a Buy rating and $25 price target. The analyst is citing encouraging data from the company’s lead drug EDG-5506 in Becker Muscular Dystrophy, which suggest a benefit to muscle injury being sustained over a six-month period. The firm also estimates unadjusted peak sales for the drug at up to $2.5B and believes that this is not reflected at current levels.