Wedbush analyst Laura Chico lowered the firm’s price target on Edgewise Therapeutics (EWTX) to $35 from $40 and keeps an Outperform rating on the shares. Edgewise said the FDA has deemed CANYON data insufficient to support an accelerated filing for sevasemten in Becker muscular dystrophy, but the company will explore additional avenues to speed the process, and will seek full approval with GRAND CANYON, the analyst tells investors in a research note. Wedbush still sees several unanswered questions for sevasemten in DMD such as the patient population to be studied, the firm says.
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