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.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on WVE:
- Beam competitive position intact after Wave data, says Clear Street
- Morning News Wrap-Up: Wednesday’s Biggest Stock Market Stories!
- Promising Prospects for Wave Life Sciences: Fein’s Buy Rating Backed by WVE-006 Data and Strategic Partnerships
- Wave Life Sciences pullback an ‘overreaction,’ says H.C. Wainwright
- Alphabet jumps after avoiding worst case in antitrust ruling: Morning Buzz