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Sectors

Sector Update: Healthcare Stocks Flat to Higher Pre-Bell Tuesday

Healthcare stocks were flat to higher pre-bell Tuesday, with the State Street Health Care Select Sector SPDR ETF (XLV) up 0.2% and the iShares Biotechnology ETF (IBB) unchanged.Zai Lab (ZLAB) stock was up more than 2% after the company said the European Medicines Agency has granted orphan drug designation to its experimental therapy, zocilurtatug pelitecan, for the treatment of pulmonary neuroendocrine carcinomas, a type of lung cancer.Alvotech (ALVO) shares were down more than 8% after the company said it has priced an underwritten public offering of about 22.7 million shares at $3.75 per share, for gross proceeds of about $85 million.Edgewise Therapeutics (EWTX) shares were up nearly 8% after the company said its phase 2 Cirrus-HCM trial of EDG-7500 met key efficacy and safety endpoints in obstructive and non-obstructive hypertrophic cardiomyopathy, supporting advancement to phase 3.

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Wire

Edgewise Therapeutics Advances EDG-7500 to Phase 3 Following 'Positive' HCM Data

Edgewise Therapeutics (EWTX) phase 2 Cirrus-HCM trial of EDG-7500 met key efficacy and safety endpoints in obstructive and non-obstructive hypertrophic cardiomyopathy, supporting advancement to Phase 3, the company said Tuesday.The 12-week study showed clinically meaningful improvements in echocardiogram measures, biomarkers, symptoms and functional status across both groups, including 90% of obstructive HCM patients with hemodynamic improvement and significant reductions in NT-proBNP and quality-of-life scores across cohorts.Edgewise said EDG-7500 was generally well tolerated, with no new safety signals, no meaningful reductions in LVEF below 50% and no observed relationship between drug exposure and LVEF changes.The company said it plans to initiate a Phase 3 program in Q4 2026.Edgewise Therapeutics shares were down more than 24% in premarket activity Tuesday.Price: $26.50, Change: $-8.71, Percent Change: -24.74%

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Sectors

Sector Update: Healthcare Stocks Fall Late Afternoon

Healthcare stocks declined late Monday afternoon, with the NYSE Healthcare Index falling 1.4% and the State Street Health Care Select Sector SPDR ETF (XLV) dropping 1.1%.The iShares Biotechnology ETF (IBB) shed 1.4%.In corporate news, Cardiff Oncology (CRDF) shares tumbled past 21% after HC Wainwright downgraded the stock to neutral from buy, and TD Cowen to hold from buy.GRAIL (GRAL) stock dropped 9.7% after the company said the NHS-Galleri trial of its Galleri multi-cancer early detection test missed its primary endpoint.Jasper Therapeutics (JSPR) shares tumbled 32% after the firm said its board has launched a review of strategic alternatives, including a sale of assets, a sale of the company, merger, or an orderly wind-down of operations.Edgewise Therapeutics (EWTX) has agreed to sell its muscular dystrophy business to Servier for up to $2.65 billion, Servier said Monday. Edgewise shares jumped past 13%.

$CRDF$EWTX$GRAL$JSPR
Wire

Wedbush Raises Price Target on Edgewise Therapeutics to $52 From $46, Maintains Outperform Rating

Edgewise Therapeutics (EWTX) has an average rating of buy and mean price target of $42.75, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $39.52, Change: $+5.36, Percent Change: +15.69%

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Sectors

Sector Update: Healthcare Stocks Fall in Afternoon Trading

Healthcare stocks declined Monday afternoon, with the NYSE Healthcare Index falling 1.6% and the State Street Health Care Select Sector SPDR ETF (XLV) dropping 1.4%.The iShares Biotechnology ETF (IBB) shed 1.6%.In corporate news, GRAIL's (GRAL) stock dropped 14% after the company said the NHS-Galleri trial of its Galleri multi-cancer early detection test missed its primary endpoint.Jasper Therapeutics (JSPR) shares dropped 17% after it said Monday that its board has launched a review of strategic alternatives, including a potential sale of assets, licensing deals, collaborations, merger, business combination, sale of the company or an orderly wind-down of operations.Edgewise Therapeutics (EWTX) has agreed to sell its muscular dystrophy business to Servier for up to $2.65 billion, Servier said Monday. Edgewise shares jumped 13%.Humana (HUM) shares climbed 6.1% after the company said it plans to reaffirm its full-year adjusted earnings guidance of at least $9 per share during upcoming meetings.

$EWTX$GRAL$HUM$JSPR
Wire

Edgewise Therapeutics' Update for EDG-7500 Could Boost Shares, RBC Says

Edgewise Therapeutics' (EWTX) update for EDG-7500 to target the genetic heart condition hypertrophic cardiomyopathy, or (HCM) is expected to deliver clear efficacy and a tolerability profile that could differentiate it from aficamten, potentially driving shares up another 10% to 20%, RBC Capital Markets said Thursday in a note.Following Cytokinetics' (CYTK) ACACIA readout for its aficamten drug candidate, where it saw a positive but modest effect in nHCM, paired with clear drug-driven left ventricular ejection fraction, RBC said Edgewise is in a strong position to differentiate in the indication with '7500.The readout of EDG-7500's 12-week data in Q2 could drive significant upside, particularly if strong efficacy is measured with no negative impact on left ventricular ejection fraction, along with single digit atrial fibrillation, according to the note.A clear data win could drive as much as 5% to 10% upside on the day, and RBC sees more than $3 billion in peak sales for '7500, according to the note.Sevasemten is also on track for topline data readout in Q4, according to analysts, who add that Edgewise has a 60% probability of showing clear efficacy in Becker Muscular Dystrophy, which could be a $1.3 billion peak revenue opportunity and drive 25% to 50% upside - even after a win on '7500, the brokerage said.RBC kept an outperform rating on Edgewise Therapeutics with a price target of $50.Price: $35.21, Change: $-0.37, Percent Change: -1.04%

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Wire

Edgewise Therapeutics Shares Decline Amid Wider Q1 Loss

Edgewise Therapeutics (EWTX) retreated more than 1% in morning trading Thursday as the company reported a wider Q1 loss.The company reported a Q1 net loss of $0.46 per diluted share, compared with a loss of $0.43 a year earlier.Four analysts polled by FactSet expected a loss of $0.49.As expected, no revenue was reported for the quarter ended March 31.The company said it had cash, cash equivalents and marketable securities of about $499.6 million as of March 31.Price: $36.44, Change: $-0.55, Percent Change: -1.48%

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Wire

Truist Securities Adjusts Price Target on Edgewise Therapeutics to $52 From $46, Maintains Buy Rating

Edgewise Therapeutics (EWTX) has an average rating of buy and mean price target of $42.75, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $37.70, Change: $-0.31, Percent Change: -0.82%

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Sectors

Sector Update: Health Care Stocks Higher Late Afternoon

Health care stocks edged higher late Tuesday afternoon, with the NYSE Health Care Index and the State Street Health Care Select Sector SPDR ETF (XLV) each increasing about 0.4%.The iShares Biotechnology ETF (IBB) was up 0.1%.In corporate news, Edgewise Therapeutics (EWTX) shares jumped 22% after Wedbush lifted the company's price target to $46 from $32, while keeping its outperform rating.Pfizer's (PFE) Q1 results surpassed analyst estimates as robust demand across its key brands offset weakening sales of its COVID-19 products. Its shares rose 0.9%.Merck (MRK) shares added 0.6%. The company said Tuesday it has completed the acquisition of Terns Pharmaceuticals after a cash tender offer at $53 per share.Scilex (SCLX) shares were down 3% after it said Tuesday its subsidiary ACEA Therapeutics agreed to transfer 100% of the equity interests of ACEA Pharma to Phoenix Asia (PHOE) in a $1 billion all-stock deal.

$EWTX$MRK$PFE$SCLX
Sectors

Sector Update: Health Care

Health care stocks rose late Tuesday afternoon, with the NYSE Health Care Index and the State Street Health Care Select Sector SPDR ETF (XLV) each increasing 0.4%.The iShares Biotechnology ETF (IBB) was shedding 0.2%.In corporate news, Edgewise Therapeutics (EWTX) shares jumped 22% after Wedbush lifted the company's price target to $46 from $32, while keeping its outperform rating.

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Wire

Wedbush Adjusts Price Target on Edgewise Therapeutics to $46 From $32, Maintains Outperform Rating

Edgewise Therapeutics (EWTX) has an average rating of buy and mean price target of $41.08, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $37.62, Change: $+6.17, Percent Change: +19.62%

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Wire

Edgewise Therapeutics Faces Near-Term Upside From Cytokinetics' Upcoming Readout, RBC Says

Edgewise Therapeutics (EWTX) faces near-term upside opportunity with Cytokinetics' (CYTK) upcoming readout from its Acacia trial, RBC Capital Markets said in a note Friday.The brokerage said that regardless of Cytokinetics' trial data, there may be positive readthroughs for Edgewise's EDG-7500 candidate, driving about 10% upside.A positive result from the Acacia readout would validate drugs for non-obstructive hypertrophic cardiomyopathy and suggest that development of iterative drugs like EDG-7500 can progressively drive better benefits, while an Acacia miss could mean a potentially uncontested market, according to the note.Follow-up data from Edgewise's Cirrus trial also has the potential to drive an about 10% upside, creating a "nice" catalyst path in Q2, while the company's Grand Canyon trial results could be the stock's largest catalyst this year, the brokerage said.RBC has an outperform, speculative risk rating on the stock, with a $50 price target.Price: $31.51, Change: $+0.28, Percent Change: +0.90%

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