In a report released on May 8, Joseph Schwartz from Leerink Partners reiterated a Buy rating on Edgewise Therapeutics (EWTX – Research Report), with a price target of $50.00.
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Joseph Schwartz has given his Buy rating due to a combination of factors related to Edgewise Therapeutics’ promising developments in their muscular dystrophy programs. The company is making significant strides with sevasemten in Becker muscular dystrophy (BMD) and Duchenne muscular dystrophy (DMD), with potential regulatory feedback on a path to accelerated approval in BMD expected soon. This could be a game-changer for the company, especially considering the unmet need in BMD and the absence of available therapies.
Furthermore, the upcoming data from the Phase 2 LYNX and FOX studies in DMD is anticipated to provide clarity on the program’s future. Although the path for sevasemten in DMD is less defined, the results could bolster investor confidence. Additionally, the company’s progress in hypertrophic cardiomyopathy (HCM) with the expected 12-week data in the latter half of 2025 is another factor contributing to the positive outlook. These developments, coupled with the company’s strategic engagement with the FDA, underpin Schwartz’s optimistic rating.
In another report released on May 9, Evercore ISI also maintained a Buy rating on the stock with a $40.00 price target.
Based on the recent corporate insider activity of 36 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of EWTX in relation to earlier this year.