Core Viewpoint - Edgewise Therapeutics has seen significant stock price increases, with shares up 55% in the last three months and 332% over the past year, raising questions about potential investment opportunities given its current market cap of $2.4 billion [1][2]. Drug Pipeline - The company is focusing on two main drugs: Sevasemten for muscular dystrophy (MD) and EDG-7500 for hypertrophic cardiomyopathy (HCM) [1][4]. - Sevasemten is in Phase 3 trials for Becker MD and Phase 2 trials for Duchenne MD, differentiating itself by targeting multiple forms of MD [2][3]. - EDG-7500 has shown promising results, with a 64% reduction in a biomarker linked to heart stress and maintaining normal left ventricular ejection fraction (LVEF) levels in patients [5][6]. Market Potential - The market for Sevasemten is significant, with an estimated 47,000 people affected by Becker and Duchenne MD in the US, EU, and Japan combined [4]. - The HCM market is even larger, potentially affecting up to 630,000 people in the United States alone [5]. Competitive Landscape - EDG-7500 competes with Bristol Myers Squibb's Camzyos, which has shown a 67% reduction in the same biomarker but has had some patients experience decreased LVEF levels [6][7]. - Analysts note that the results of EDG-7500 and Camzyos appear similar, indicating a competitive market [7]. Analyst Sentiment - Several analysts have raised their price targets for Edgewise, with an average implied upside of 55% based on recent closing prices, and the most optimistic analyst projecting a 70% increase [8][9]. - Despite the positive outlook, the probability of drug approval remains low, averaging around 12% [9][10].
Analyst Think There's Still Time to Get in on Edgewise, Up 332%