RBC Capital analyst Leonid Timashev raised the firm’s price target on Edgewise Therapeutics to $42 from $32 and keeps an Outperform rating on the shares. The company’s first in-human data for ‘7500 was effectively a best-case scenario from such an early cut, with clear efficacy, no safety overhangs, potential for the drug’s profile to strengthen over time, and visibility towards differentiation, the analyst tells investors in a research note. RBC adds that it is positive on the company’s catalyst path over the next 6 months, including data in BMD, DMD, and ‘7500 MAD, all of which can drive further stock upside.
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