Mizuho Securities analyst Salim Syed has maintained their bullish stance on WVE stock, giving a Buy rating yesterday.
Salim Syed has given his Buy rating due to a combination of factors related to Wave Life Sciences’ recent clinical trial results and future plans. The company announced promising 48-week data from their FORWARD-53 study, which demonstrated a mean muscle-adjusted dystrophin production of 7.8%, well above the generally accepted 5% efficacy threshold. This consistency in dystrophin production, despite inter-assay variability, suggests stability and reliability in their results.
Additionally, the functional assessments showed statistically significant improvements, such as a 3.8-second difference in the time to rise test, which is both statistically significant and clinically meaningful. The safety profile remains favorable, with no serious adverse events reported. Furthermore, Wave Life Sciences plans to file for accelerated approval and expand their clinical programs by 2026, indicating a strategic path forward that could enhance shareholder value.
Syed covers the Healthcare sector, focusing on stocks such as Vaxcyte, Cytokinetics, and Wave Life Sciences. According to TipRanks, Syed has an average return of -6.9% and a 37.25% success rate on recommended stocks.
In another report released yesterday, Jefferies also reiterated a Buy rating on the stock with a $26.00 price target.