Truist sees ‘slight weakness’ for Edgewise Therapeutics on regulatory feedback

Truist keeps a Buy rating with a $50 price target on Edgewise Therapeutics (EWTX) after the company’s updates on phase 2 data from the ongoing DMD – Duchenne muscular dystrophy – study, regulatory update on BMD – Becker Muscular Dystrophy – that was in-line with the firm’s base case, and data update from BMD OLE MESA. Truist notes that it expects the stock to be slightly weak on the regulatory feedback but also sees this as a buying opportunity, adding that given the data presented, the firm continues to see potential for sevasemten in both BMD and DMD.