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Investing.com - Canaccord Genuity initiated coverage on WAVE Life Sciences (NASDAQ:WVE) with a Buy rating on Monday, citing the company’s robust pipeline of RNA-based medicines. The $1.39 billion market cap company currently trades near InvestingPro’s Fair Value, with analyst price targets ranging from $9 to $36.
The research firm highlighted several key assets in Wave’s portfolio, including WVE-006 for Alpha-1 Antitrypsin Deficiency (AATD), which has imminent 200mg multidose data expected in the third quarter of 2024, followed by higher 400mg single dose data later in the fall.
Canaccord also pointed to WVE-007 for obesity, with initial clinical data anticipated in the fourth quarter of 2025, as a significant market opportunity for the company.
The firm noted that Wave is approaching a potential first commercial approval with WVE-N531 for Duchenne Muscular Dystrophy (DMD) Exon 53 within the next year, representing a near-term catalyst.
Additionally, Canaccord mentioned Wave’s Huntington disease program, WVE-003, which is expected to enter a potentially registrational Phase 2/3 study following IND filing in the second half of 2025.
In other recent news, Wave Life Sciences has been the focus of multiple analyst ratings. Oppenheimer initiated coverage with an Outperform rating, setting a price target of $24.00, noting the company’s innovation in RNA medicine through its PRISM platform. Citi also began coverage with a Buy rating and a price target of $16.00, highlighting several near-term catalysts that could drive potential growth. Cantor Fitzgerald reiterated its Overweight rating, maintaining a price target of $10.00, after hosting a webinar with Wave’s CEO. The firm emphasized the company’s therapeutic approach targeting activin signaling pathways, which may enhance fat loss while preserving lean mass. H.C. Wainwright maintained its Buy rating with a $22.00 price target, citing new preclinical data from the WVE-007 program. This data demonstrated significant weight loss in obese mice without muscle loss, following a single injection. These developments reflect ongoing interest in Wave Life Sciences’ clinical-stage programs and potential therapeutic advances.
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