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Investing.com - Leerink Partners has increased its price target on WAVE Life Sciences (NASDAQ:WVE) to $26.00 from $24.00 while maintaining an Outperform rating on the stock. The new target represents significant upside potential from the current price of $7.62, with analyst targets ranging from $9 to $36. According to InvestingPro data, the stock has delivered a remarkable 73.33% return over the past year.
The research firm’s decision follows WAVE’s recent demonstration of a dynamic acute phase response post-RNA editing in alpha-1-antitrypsin deficiency (AATD).
Leerink Partners noted that despite this being an impressive first demonstration, WVE’s stock performance suggests investors had expected a greater increase in AAT protein levels.
The firm recommends investors take advantage of the current stock weakness to buy shares ahead of additional important catalysts for the company.
Leerink Partners expressed optimism that investors will appreciate these upcoming catalysts despite what it described as "today’s confusion" surrounding the AATD data results.
In other recent news, Wave Life Sciences Ltd . reported its Q2 2025 earnings, revealing a larger-than-expected loss and a significant revenue shortfall. The company’s earnings per share were -$0.31, missing analysts’ forecasts of -$0.27. Revenue was reported at $8.7 million, which was significantly below the anticipated $14.31 million, marking a 39.2% revenue surprise. Additionally, Wave Life Sciences announced positive data from its ongoing Phase 1b/2a RestorAATion-2 study for treating alpha-1 antitrypsin deficiency (AATD). The study showed that repeat 200 mg doses of WVE-006 achieved durable production of serum AAT protein at levels associated with a lower risk of AATD liver and lung diseases. This development was highlighted as the first-ever demonstration of therapeutically restored physiological serum AAT production in a PiZZ individual. Despite these promising clinical results, the company’s stock experienced a decline following the earnings report.
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