Wave Life Sciences price target raised to $36 from $17 at Truist

Truist analyst Joon Lee raised the firm’s price target on Wave Life Sciences (WVE) to $36 from $17 and keeps a Buy rating on the shares. Wave Life Sciences recently provided “positive” readouts with differentiated and impressive profiles in Huntington’s disease, Duchenne muscular dystrophy, and alpha-1 antitrypsin deficiency that give Truist greater confidence that Wave has a winning ASO/RNAi/RNA editing platform, the analyst tells investors in a research note. The firm is looking forward to the initiation of the WVE-007 study in obesity targeting Inhibin Subunit Beta E in 1Q25 as highlighted during Wave’s R&D event. Though Wave’s decision to advance WVE-003’s HD program into Phase 2/3 is putting some pressure on shares, Truist views this as an opportunity to buy.