Wedbush analyst Laura Chico recently adjusted the firm’s price target on Edgewise Therapeutics (EWTX) from $40 to $35, while maintaining an Outperform rating on the stock. The reason for this change stems from the FDA deeming the CANYON data insufficient to support an accelerated filing for sevasemten in Becker muscular dystrophy. Despite this setback, Edgewise is committed to exploring alternative avenues to expedite the process and will now aim for full approval with GRAND CANYON.
According to Chico, there are still several unanswered questions surrounding sevasemten in DMD, particularly regarding the specific patient population to be studied. Wedbush remains optimistic about the potential of sevasemten but acknowledges the need for further clarity on these key aspects.
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In conclusion, while Edgewise Therapeutics faces challenges in the regulatory process for sevasemten, the company remains dedicated to advancing its treatment for muscular dystrophy. With the support of analysts like Laura Chico from Wedbush, investors can stay informed about the latest developments in the biotech industry.
