Citi raised the firm’s price target on Wave Life Sciences (WVE) to $30 from $16 and keeps a Buy rating on the shares. The company’s initial 240 mg WVE-007 obesity data were “encouraging,” the analyst tells investors in a research note. The firm says WVE-007 showed demonstrated an “early but dramatic” improvement in body composition with substantial reductions in fat. Citi upped its probability-of-success for WVE-007 to 40% post the data.
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