Wave Life Sciences price target raised to $26 from $24 at Leerink

Leerink raised the firm’s price target on Wave Life Sciences (WVE) to $26 from $24 and keeps an Outperform rating on the shares. Despite the impressive first demonstration of a dynamic acute phase response post-RNA editing in alpha-1-antitrypsin deficiency, Wave Life’s stock performance suggests a greater increase in AAT protein was expected by the Street, the firm says. Leerink thinks investors should take advantage of this weakness to buy the stock ahead of additional important catalysts, which it remains optimistic investors will appreciate despite today’s confusion.