Raymond James Initiates Strong Buy on Edgewise Therapeutics (EWTX) with $46 PT, Cites EDG-7500 Potential for HCM

Edgewise Therapeutics Inc. (NASDAQ:EWTX) is one of the biotech stocks to buy according to Wall Street analysts. On July 30, Raymond James analyst Martin Auster initiated coverage of Edgewise Therapeutics with a Strong Buy rating and a $46 price target. The firm believes the shares currently offer a highly attractive risk/reward profile.

A key upcoming catalyst is the release of results from Part D of the Phase 2 CIRRUS-HCM study in H2 2025, which, if positive, could meaningfully de-risk EDG-7500 for hypertrophic cardiomyopathy/HCM. The analyst also sees a potential path for the drug to avoid a risk evaluation and mitigation strategy/REMS.

Raymond James Initiates Strong Buy on Edgewise Therapeutics (EWTX) with $46 PT, Cites EDG-7500 Potential for HCM

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Earlier in Q1 2025, Edgewise Therapeutics reported a net loss of $40.8 million, or $0.43 per share. In its muscular dystrophy program, Edgewise completed enrollment for the GRAND CANYON trial. The company anticipates releasing results from this pivotal trial in Q4 2026 and is continuing discussions with the FDA regarding a potential marketing authorization strategy for its candidate, sevasemten. Furthermore, Edgewise expects to release data from the Phase 2 LYNX and FOX trials for Duchenne muscular dystrophy in Q2 2025.

Edgewise Therapeutics Inc. (NASDAQ:EWTX) is a biopharmaceutical company that discovers, develops, and commercializes therapies for the treatment of muscle disorders.

While we acknowledge the potential of EWTX to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than EWTX and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.