RBC Capital has been hearing investor questions on Edgewise Therapeutics (EWTX), which the firm believes may have been due to an FDA warning letter directed to a doctor who is an investigator associated with some of the company’s trials. However, weakness on read-throughs from a potential warning letter is “unwarranted” as the letter is not related to any conduct in any past or ongoing Edgewise studies, says the firm, which would “use the dip to accumulate shares” into the upcoming report of Phase 2 data. The firm maintains an Outperform rating and $44 price target on Edgewise.
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Read More on EWTX:
- Edgewise says FDA warning letter unrelated to any Edgewise clinical trial, data
- Edgewise moves off lows after stating FDA warning unrelated to company
- Edgewise should be bought on weakness as ARCH not likely FDA focus, says Truist
- Edgewise falls after FDA posts Warning Letter to trial investigator
- Edgewise Therapeutics price target raised to $50 from $33 at Truist
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
