Paul Choi, an analyst from Goldman Sachs, maintained the Hold rating on Edgewise Therapeutics. The associated price target is $20.00.
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Paul Choi’s rating is based on a combination of factors that include the promising potential of Edgewise Therapeutics’ pipeline, which targets multiple indications. Despite this potential, there are still significant clinical and regulatory uncertainties that need to be addressed. The company’s shares have not performed well year-to-date, largely due to mixed data from its hypertrophic cardiomyopathy (HCM) program earlier in the year.
Given these circumstances, Choi sees limited opportunities for significant price appreciation or re-rating of the stock in the next 12 months. As a result, he has assigned a Neutral rating to Edgewise Therapeutics, with a 12-month price target of $20, reflecting a cautious outlook until more clarity is achieved in their clinical and regulatory pathways.
Based on the recent corporate insider activity of 36 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of EWTX in relation to earlier this year.