Wave Life Sciences initiated with a Buy at Jefferies

Jefferies initiated coverage of Wave Life Sciences (WVE) with a Buy rating and $26 price target Wave is a clinical stage biotech focused on bringing RNA medicines to market by leveraging its Prism chemistry platform, the analyst tells investors in a research note. The firm says the company has four assets in clinical development and its “first-in-class” RNA editor, WVE-006, will be reporting multi-dose data in 2025 and could be the first disease-modifying treatment for alpha-1 antitrypsin deficiency. Jefferies models combined peak adjusted revenues of $3.8B across the four disease spaces.