Leerink Partners analyst Joseph Schwartz has reiterated their bullish stance on EWTX stock, giving a Buy rating on March 24.
Joseph Schwartz has given his Buy rating due to a combination of factors related to the clinical context and potential of Edgewise Therapeutics’ EDG-7500. Despite concerns about atrial fibrillation (AF) in the CIRRUS Part B & C study, Schwartz highlights that AF is a common occurrence in hypertrophic cardiomyopathy (HCM) patients, both treated and untreated. The prevalence of AF in HCM patients is significantly higher than in the general population, and while treatment can initially increase AF rates, these rates tend to decrease over time.
Schwartz also points out that the CIRRUS trial includes a diverse patient group, which could showcase the unique mechanism of EDG-7500. This mechanism may offer advantages such as reduced contractility impact and greater relaxation effect compared to current treatments, potentially leading to broader applicability in HCM patients. Additionally, the design of Part D of the CIRRUS trial, which allows for dose optimization over 12 weeks, could minimize hemodynamic disturbances, further supporting the Buy rating.
EWTX’s price has also changed slightly for the past six months – from $25.920 to $23.370, which is a -9.84% drop .