Why Did Edgewise Therapeutics (EWTX) Soar 13.57% After 48% Plunge?

Edgewise Therapeutics, Inc. (EWTX) shares surged 13.57% in pre-market trading on April 11, 2025, marking a significant rebound after a tumultuous week.

Edgewise Therapeutics, Inc. has experienced a volatile week, with its stock price plunging 48% due to safety concerns surrounding its investigational hypertrophic cardiomyopathy treatment candidate, EDG-7500. This significant drop in stock price was likely influenced by investor concerns over the safety profile of the drug, which has raised questions about its development and potential market approval.

Despite the recent setbacks, Edgewise Therapeutics has received positive analyst coverage. Wedbush initiated coverage on the stock with an outperform rating and a $38 price target. This optimistic outlook from analysts suggests that there is still potential for the stock to recover and grow, despite the current challenges.

Additionally, Wall Street analysts have projected a 310.1% upside for Edgewise Therapeutics, Inc. (EWTX), indicating that the stock has the potential to move significantly higher in the future. This bullish sentiment from analysts, combined with the recent pre-market surge, suggests that investors may be regaining confidence in the company's prospects.