Wedbush analyst Laura Chico lowered the firm’s price target on Edgewise Therapeutics (EWTX) to $35 from $40 and keeps an Outperform rating on the shares. Edgewise said the FDA has deemed CANYON data insufficient to support an accelerated filing for sevasemten in Becker muscular dystrophy, but the company will explore additional avenues to speed the process, and will seek full approval with GRAND CANYON, the analyst tells investors in a research note. Wedbush still sees several unanswered questions for sevasemten in DMD such as the patient population to be studied, the firm says.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on EWTX:
- Edgewise Therapeutics Announces Positive Sevasemten Results
- Morning Movers: Shell ticks higher after denying interest in BP deal
- Edgewise update in line with expectations, says Leerink
- Truist sees ‘slight weakness’ for Edgewise Therapeutics on regulatory feedback
- Promising Developments in Edgewise Therapeutics: A Buying Opportunity Amidst Regulatory Challenges