Clear Street analyst Bill Maughan says Wave Life Sciences (WVE) is trading higher after Arrowhead (ARWR) reported the first clinical weight loss data for its RNAi-based obesity candidates targeting INHBE or its receptor, ALK7. Wave’s December data support the INHBE-targeting mechanism for the improvement in cardiometabolic health by reducing fat, including visceral fat, and Arrowhead’s data “go a step further: by combining with a GLP-1, and showed additive weight loss, the analyst tells investors in a research note. Clear believes the INHBE-targeting is delivering fat reduction and muscle growth, which i an additive benefit over GLP-1s, a safe profile, along with infrequent dosing. The firm maintains a Buy rating on Wave Life Sciences with a $47 price target.
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