Piper Sandler initiated coverage of Edgewise Therapeutics with an Overweight rating and $48 price target. The analyst believes EDG-7500 has broad potential in hypertrophic cardiomyopathy. Despite recent share gains, Edgewise continues to have upside potential as it develops its lead asset, EDG-5506 for Duchenne muscular dystrophy and Becker muscular dystrophy with substantial expansion potential, the analyst tells investors in a research note. Piper sees a “compelling opportunity,” noting the company has eight key catalysts coming up in 2024.
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