Edgewise Therapeutics price target raised to $42 from $32 at Leerink

Leerink raised the firm’s price target on Edgewise Therapeutics (EWTX) to $42 from $32 and keeps an Outperform rating on the shares. While early and in a limited number of patients, EDG-7500 “looks like a drug that can be significantly differentiated” from existing cardiac myosin inhibitors such as Bristol Myers’ (BMY) mavacamten and Cytokinetics’ (CYKT) aficamten, the analyst tells investors in a research note. The firm thinks the 67% mean reduction in resting left ventricular outflow tract gradient observed in obstructive hypertrophic cardiomyopathy patients who received 100 and 200 mg doses without meaningful changes in left ventricle ejection fraction “clearly differentiates” EDG-7500 from existing cardiac myosin inhibitors.