Why Edgewise Therapeutics Stock Topped the Market on Tuesday
Why Edgewise Therapeutics Stock Topped the Market on Tuesday
Eric Volkman, The Motley FoolTue, March 17, 2026 at 10:51 PM UTC
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Key Points -
She raised her price target by $11 per share.
In her view, the company's No. 1 pipeline drug has vast potential.
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A significant price target boost from an analyst at a prominent U.S. bank was the main catalyst behind Edgewise Therapeutics' (NASDAQ: EWTX) rise on the stock market on Tuesday. Investors were encouraged enough by the move to bid the biotech's share price up by more than 2%, handily beating the 0.3% rise of the benchmark S&P 500 index.
$11 improvement
The pundit behind the increase was Tessa Romero of JPMorgan Chase unit JPMorgan. Well before market open Tuesday, she raised her Edgewise price target to $45 per share from $34. She maintained her overweight (read: buy) recommendation on the stock.
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Healthcare professional inspecting charts.
Image source: Getty Images.
According to reports, the analyst feels that Edgewise has several investigational programs that could vault it ahead. Romero noted renewed interest in the company's EDG-7500, a novel pipeline drug targeting the heart disorder hypertrophic cardiomyopathy (HCM).
In what surely isn't a coincidence, last week Edgewise published long-term data from an open-label study of muscular dystrophy treatment sevasemten. The data showed that patients suffering from one type of muscular dystrophy, Becker, showed stabilization of function when administered the drug.
This, the company wrote, is "in marked contrast to the functional decline expected from Becker natural history data."
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Double dose
It's impressive when a biotech has only one high-potential medicine in advanced development; Edgewise has two. What's more, it's developing another two in the high-demand cardiovascular segment. All this makes the company a standout in the biotech sector and an exciting business to watch.
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JPMorgan Chase is an advertising partner of Motley Fool Money. Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends JPMorgan Chase. The Motley Fool has a disclosure policy.
Source: “AOL Money”
