Wave Life Sciences price target raised to $22 from $20 at Leerink

Leerink analyst Joseph Schwartz raised the firm’s price target on Wave Life Sciences to $22 from $20 and keeps an Outperform rating on the shares. The firm notes Wave Life Sciences announced “impressive” proof-of-mechanism data for its RNA editing platform by generating a robust amount of wild-type M-AAT protein in two alpha-1-antitrypsin deficiency patients after just a single dose of WVE-006. Leerink believes the proof-of-mechanism data provides robust demonstration of ADAR RNA editing in humans and provides clinical validation of Wave Life’s RNA editing platform as well as proof-of-concept for the rest of the company’s wholly owned pipeline of RNA editing candidates.