Piper Sandler has reiterated an Overweight recommendation on Edgewise Therapeutics (NASDAQ:EWTX) and left its price target at $51.00 as the company prepares for several clinical milestones in 2026. The research house identified Edgewise among its top ideas for 2026 and signaled continued conviction in the likelihood of a favorable topline outcome from the EDG-7500 program.
Edgewise shares are trading at $28.78 and remain close to their 52-week high of $30.25, a market positioning Piper Sandler and other analysts view as reflective of strong investor confidence. Aggregated InvestingPro data cited by market observers show a bullish analyst consensus on EWTX, with an average upside potential of 43% from current levels.
Central to Piper Sandler’s thesis is EDG-7500, an investigational cardiac myosin modulator being evaluated in a 12-week Phase 2 trial named CIRRUS-HCM. Topline results from that study are expected in the second quarter of 2026. In its note, the firm underscored EDG-7500’s differentiated value proposition in hypertrophic cardiomyopathy and presented answers to 30 frequently asked investor questions around the program.
Alongside EDG-7500, Piper Sandler drew attention to EDG-15400, Edgewise’s second-generation candidate targeting heart failure with preserved ejection fraction or HFpEF. The firm flagged EDG-15400 as a second value-driving program and noted that first-in-human single ascending dose and multiple ascending dose Phase 1 data are anticipated in the second quarter of 2026.
While the immediate analyst and investor focus is on the company’s cardiovascular assets because of the near-term catalysts, Piper Sandler also expects attention to migrate later to Edgewise’s neuromuscular portfolio. Specifically, the firm called out sevasemten in Becker muscular dystrophy and Duchenne muscular dystrophy as programs with “substantial upside potential,” describing the current period as a buying opportunity ahead of a year rich with catalysts.
Edgewise has also communicated internal updates that may factor into investor assessments. The company reported favorable safety data from its Phase 2 EDG-7500 study, indicating the drug was generally well tolerated and that there were no clinically meaningful reductions in left ventricular ejection fraction, a noted differentiator versus other cardiac myosin inhibitors. An interim update highlighted that among 20 participants dosed for 12 weeks, no significant changes in LVEF were observed.
Separately, the company made several leadership changes. Christopher Martin has joined Edgewise’s Board of Directors; the firm noted his prior position as Chief Commercial Officer at Verona Pharma. In the finance organization, Michael Nofi was appointed chief financial officer, succeeding R. Michael Carruthers, who is retiring. Nofi previously served as chief accounting officer at SpringWorks Therapeutics and was credited with handling significant aspects of that company’s financial operations.
These program-level and corporate developments frame Piper Sandler’s continued Overweight stance and the firm’s maintained $51.00 price target. The timing and content of the 2026 readouts for EDG-7500 and EDG-15400 are central to the near-term investment narrative for Edgewise.
Summary
Piper Sandler reiterated an Overweight rating and $51.00 price target on Edgewise Therapeutics, emphasizing EDG-7500 for HCM and EDG-15400 for HFpEF as the principal near-term value drivers with topline data expected in the second quarter of 2026. The stock trades near its 52-week high and analysts show an average upside of 43% based on InvestingPro data. Edgewise reported favorable safety signals for EDG-7500 and announced board and finance leadership changes.
Key points
- Piper Sandler keeps Overweight rating and $51.00 price target on EWTX.
- EDG-7500 Phase 2 CIRRUS-HCM topline data expected in Q2 2026; EDG-15400 Phase 1 SAD/MAD data also expected in Q2 2026.
- Analyst consensus shows an average upside potential of 43%; stock trades near a 52-week high.
Risks and uncertainties
- Readout risk - The investment case hinges on upcoming Phase 2 topline results for EDG-7500, which are scheduled for the second quarter of 2026 and whose outcome is not yet known.
- Timing and data risk for EDG-15400 - First-in-human SAD/MAD data for the HFpEF program are expected in the second quarter of 2026; the timing and content of those data will influence valuation assumptions.
- Leadership transition - Changes in the board and finance leadership, including a new CFO replacing a retiring predecessor, introduce near-term operational and governance uncertainties.