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Investing.com - Cantor Fitzgerald has maintained its Overweight rating and $12.00 price target on WAVE Life Sciences (NASDAQ:WVE) stock ahead of upcoming clinical data. Currently trading at $7.13, the stock has shown strong momentum recently, with analyst targets ranging from $9 to $36. According to InvestingPro analysis, the company maintains a FAIR financial health score.
The research firm highlighted the potential opportunity for WAVE to emphasize fat mass loss data from its INLIGHT study, which could show double-digit percentage reductions at 3-6 months.
Cantor Fitzgerald noted three key catalysts for WVE-007: the company’s full ownership of the asset, its status as first-in-human data for both WVE-007 and potentially the INHBE target, and the current receptive landscape for new obesity treatment mechanisms.
The firm explained that WVE-007 differs from incretin-based therapies as it potentially works through lipolysis, visceral fat loss, and fat redistribution rather than satiety.
Cantor Fitzgerald also pointed to WVE-007’s potential dosing advantage, noting it could require injections only every six to twelve months, positioning it in the same category as oral treatments generating excitement in the obesity market.
In other recent news, Wave Life Sciences announced significant developments in its ongoing RestorAATion-2 trial for the WVE-006 treatment targeting Alpha-1 Antitrypsin Deficiency (AATD). The company reported that its RNA editing oligonucleotide achieved sustained production of serum AAT protein, potentially reducing the risk of liver and lung diseases associated with AATD. Following this announcement, Leerink Partners raised its price target for Wave Life Sciences to $26, maintaining an Outperform rating due to the promising AATD data. Meanwhile, Jones Trading adjusted its price target to $16, noting the improvement between single-dose and multi-dose results but highlighting a small dose response between the 200mg and 400mg cohorts.
Clear Street initiated coverage of Wave Life Sciences with a Buy rating, setting a $22 price target, emphasizing the company’s innovative pipeline of genetic medicines. Raymond James also reiterated its Outperform rating, focusing on the long-term potential of Wave’s gene-editing programs and the value expected from partnerships like that with GSK. These developments underscore the mixed analyst views on the company’s prospects, with varying price targets reflecting different assessments of Wave’s recent data and strategic partnerships.
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