Clear Street raised the firm’s price target on Wave Life Sciences (WVE) to $50 from $47 and keeps a Buy rating on the shares after GSK (GSK) returned the rights to WVE-006 for alpha1-antitrypsin deficiency. The firm views the news as an “overall positive.” The muted stock reaction today is due to the outsized importance of WVE-007 in Wave Life’s valuation overshadowing its alpha-1 antitrypsin deficiency program, the analyst tells investors in a research note. Clear Street still believes in the program despite GSK’s decision.
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