Jefferies Raises Price Target on WAVE Life Sciences (WVE) From $28 to $42
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Jefferies reiterated a Buy rating on WAVE Life Sciences (NASDAQ: WVE), and raised the price target to $42.00 (from $28.00), after meeting with management. WVE is making progress on two lead programs in Huntington’s disease (HD) & Duchenne Muscular Dystrophy (DMD), with both scheduled to enter clinic in 2017.
Analyst Eun Yang commented, "We attribute recent WVE share appreciation to: (1) progress in its pipeline candidates; (2) visibility from two recent KOL events on its core programs; (3) benefit from Exondys 51 approval; & (4) biotech rally post-election. While clinical utility of its candidates remains to be seen, on its timely execution to date & ability to continue to generate potentially best-in-class RNA therapies, we're increasing PT & maintaining Buy."
Shares of WAVE Life Sciences closed at $36.50 yesterday.
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