Edgewise TherapeuticsNASDAQ: EWTX

The consensus price target hints at a 52.8% upside potential for Edgewise Therapeutics, Inc. (EWTX). While empirical research shows that this sought-after metric is hardly effective, an upward trend in earnings estimate revisions could mean that the stock will witness an upside in the near term.

The mean of analysts' price targets for Edgewise Therapeutics, Inc. (EWTX) points to a 33.3% upside in the stock. While this highly sought-after metric has not proven reasonably effective, strong agreement among analysts in raising earnings estimates does indicate an upside in the stock.

The mean of analysts' price targets for Edgewise Therapeutics, Inc. (EWTX) points to a 70.8% upside in the stock. While this highly sought-after metric has not proven reasonably effective, strong agreement among analysts in raising earnings estimates does indicate an upside in the stock.

Edgewise (EWTX) will issue secondary shares to raise $240 million in gross proceeds. The capital will be used to fund key initiatives, including the potential commercial launch of lead pipeline drugs.

Edgewise Therapeutics, Inc. interim results from the phase 2 LYNX study, using EDG-5506 for the treatment of children ages 4 to 9 with DMD, are expected first half of 2024. Expansion opportunity exists to use EDG-5506 for the treatment of children and adolescent DMD patients ages 6 to 14 who have previously already been treated with gene therapy. It is expected that the global Duchenne Muscular Dystrophy treatment market size is expected to reach $3.89 billion by 2028.

Laura Chico, Wedbush Biotech Analyst, joins 'Closing Bell Overtime' to talk investing in biotech.