J.P. Morgan analyst Tessa Romero has maintained their bullish stance on EWTX stock, giving a Buy rating on April 3.
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Tessa Romero’s rating is based on a combination of factors that suggest a promising future for Edgewise Therapeutics. Despite the initial concerns surrounding the cases of atrial fibrillation (AF) in the CIRRUS-HCM trial, Romero points out that AF is a common occurrence in hypertrophic cardiomyopathy (HCM) patients, and the cases observed were not directly linked to the drug exposure. The patients who experienced AF had pre-existing risk factors, and the events were managed effectively with standard care procedures.
Romero believes that the mechanistic rationale and therapeutic potential of Edgewise’s drug, EDG-7500, remain intact, with the trial showing encouraging efficacy and safety signals. She sees the current dip in the stock price as a buying opportunity, especially for those willing to wait for further data from the ongoing trials. The anticipated results from the 12-week portion of the CIRRUS-HCM trial could provide additional insights and support the long-term value proposition of the stock.
In another report released on April 3, Leerink Partners also reiterated a Buy rating on the stock with a $50.00 price target.