Edgewise Therapeutics Reports Positive Phase 2 Data, Shares Surge 26%
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2h ago
0mins
Source: Fool
- Clinical Trial Progress: Edgewise's ongoing Phase 2 trial of EDG-7500 shows clinical activity across significant hypertrophic cardiomyopathy markers, boosting investor confidence in its future potential.
- Favorable Safety Profile: The drug maintained a favorable safety and tolerability profile during trials, indicating optimistic prospects for its application in treating hypertrophic cardiomyopathy, which may attract more investor interest.
- Enrollment Exceeds Expectations: As of December 23, over 40 participants are enrolled in the trial, with approximately 70% reaching a dose of at least 100 milligrams, demonstrating sustained enthusiasm from patients and physicians for the program.
- Positive Market Reaction: Following the encouraging clinical data, Edgewise's share price surged nearly 26% on the last trading day before Christmas, reflecting market optimism regarding its future developments.
EWTX
$27.29+Infinity%1D
Analyst Views on EWTX
Wall Street analysts forecast EWTX stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for EWTX is 37.00 USD with a low forecast of 20.00 USD and a high forecast of 51.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
8 Analyst Rating
7 Buy
1 Hold
0 Sell
Strong Buy
Current: 21.745
Low
20.00
Averages
37.00
High
51.00
Current: 21.745
Low
20.00
Averages
37.00
High
51.00
About EWTX
Edgewise Therapeutics, Inc. is a muscle disease biopharmaceutical company developing novel therapeutics for muscular dystrophies and serious cardiac conditions. The Company’s lead product candidate, sevasemten (EDG-5506), is an orally administered skeletal myosin inhibitor in late-stage clinical trials in Becker and Duchenne muscular dystrophies. Its EDG-7500 is a novel cardiac sarcomere modulator for the treatment of hypertrophic cardiomyopathy and other diseases of diastolic dysfunction, which is in Phase II clinical development. The Company is using its proprietary drug discovery platform to develop a pipeline of precision medicine product candidates that target key muscle proteins and modulators to address a broad array of serious muscle disorders. Its platform utilizes custom-built high throughput and translatable systems that measure integrated muscle function in whole organ extracts to identify small molecule precision medicines regulating key proteins in muscle tissue.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
