BofA lowered the firm’s price target on Wave Life Sciences (WVE) to $21 from $38 and keeps a Buy rating on the shares after the company announced updated data for the Phase 1 trial of WVE-007 for obesity. The firm thinks more is needed to convince investors of the potential for WVE-007, especially as monotherapy, but adds that it thinks there is still opportunity in higher BMI patients and in combination with incretins/maintenance therapy.
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