Wave Life Sciences (WVE – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst on May 4. Analyst Joseph Schwartz from Leerink Partners reiterated a Buy rating on the stock and has a $24.00 price target.
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Joseph Schwartz has given his Buy rating due to a combination of factors that highlight Wave Life Sciences’ potential for growth and success. The company is poised to deliver several key updates in 2025, including data releases for their treatments targeting alpha-1-antitrypsin deficiency, obesity, and Huntington’s disease. These developments are expected to serve as catalysts for stock appreciation, especially given the company’s demonstrated progress in their exon-skipping program for Duchenne muscular dystrophy, which showed significant clinical improvements.
Schwartz also notes that the market is currently seeking undervalued opportunities with reduced risk, and Wave Life Sciences fits this profile well. The anticipated data releases and regulatory submissions present multiple opportunities for positive stock movement. Additionally, the potential for accelerated approval in Huntington’s disease, based on a surrogate endpoint, could further enhance the company’s prospects. These factors contribute to the reaffirmation of a $24 price target and an Outperform rating.
In another report released on April 28, Cantor Fitzgerald also initiated coverage with a Buy rating on the stock with a $10.00 price target.