Wave Life Sciences initiated with an Overweight at JPMorgan

JPMorgan initiated coverage of Wave Life Sciences with an Overweight rating and $10 price target. The company’s pipeline assets, WVE-006 and WVE-007, both present “compelling, potentially differentiated interventions for blockbuster market opportunities,” and are maturing toward value accretive catalysts over the next three to fifteen months, the analyst tells investors in a research note. The firm sees the direct SERPINA1 transcript editing approach behind WVE-006 “going somewhat underappreciated” for its disease modifying potential in the treatment of alpha-1 antitrypsin deficiency.