Edgewise Therapeutics should be bought on weakness, says Piper Sandler

Piper Sandler analyst Yasmeen Rahimi remains bullish on Edgewise Therapeutics (EWTX) and maintains an Overweight rating and $51 price target on the shares after the company reported 28-day EDG-7500 data from the Phase 2 CIRRUS-HCM four-week trial in participants with obstructive or nonobstructive hypertrophic cardiomyopathy. Edgewise is trading down on the four AF cases, which the firm believes is “blown out of proportion” as it tells investors that AF naturally occurs in greater than 25% of HCM patients. Today’s data de-risk the odds of success for EDG-7500’s 12-week Part D data due in the second half of 2025, the analyst tells investors.