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Investing.com - WAVE Life Sciences (NASDAQ:WVE), currently trading at $9.51 with analyst targets ranging from $9 to $36, maintained its Buy rating from Canaccord Genuity, which reiterated its $19.00 price target as the company prepares to release clinical data in the coming weeks. According to InvestingPro data, the stock has shown significant momentum with an 8.56% return over the past week.
Canaccord expects WAVE to report updated Phase 1/2 WVE-006 data from completed single ascending dose (SAD) and multiple ascending dose (MAD) 200mg cohorts this quarter, with additional 400mg SAD data anticipated "in the fall."
The firm expressed optimism about the upcoming MAD cohort results, citing company commentary regarding greater liver exposure and higher liver concentration of WVE-006 with the multidose regimen.
Canaccord sees a favorable risk/reward profile with potential for "~30%+ upside on good news" compared to a possible "transient ~10% downside" if results disappoint, noting that shares previously rose approximately 74% (from about $9 to $15) following the October 2024 data update. InvestingPro analysis indicates the stock is currently overvalued, with 12 additional exclusive insights available to subscribers.
The investment firm believes downside protection comes from additional alpha-1 antitrypsin deficiency (AATD) data expected this fall, along with upcoming results from the company’s wholly owned WVE-007 obesity program scheduled for later this year. The company’s next earnings report is scheduled for November 6, 2025, where investors will be watching for improvements in its -80.88% gross profit margin.
In other recent news, Wave Life Sciences has received several positive analyst ratings, highlighting its potential in the biotech sector. Canaccord Genuity initiated coverage with a Buy rating, emphasizing the company’s robust pipeline of RNA-based medicines. Oppenheimer also started coverage with an Outperform rating, noting Wave Life Sciences as a leading innovator in RNA medicine. Citi joined in with a Buy rating, pointing out multiple near-term catalysts that could drive upside potential for the company. Cantor Fitzgerald reiterated its Overweight rating, mentioning evidence supporting the company’s therapeutic approach targeting activin signaling pathways. These recent developments reflect strong confidence from multiple research firms in Wave Life Sciences’ innovative capabilities and strategic direction.
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