WAVE Life Sciences (WVE) PT Raised to $43 at Canaccord Genuity

Canaccord Genuity analyst Whitney Ijem raised the price target on WAVE Life Sciences (NASDAQ: WVE) to $43.00 (from $40.00) while maintaining a Buy rating.

The analyst commented: "WVE announced this morning that it has regained full rights to WVE-006 from GSK. The co cites GSK's focus on large-scale diseases vs. WVE's ability to pursue smaller rare conditions. We had a chance to catch up with mgmt after the announcement where they confirmed the desire to move the program forward quickly on a potential accelerated approval pathway, given the FDA alignment with BEAM's (not covered) BEAM-302. Similarly, WVE expects to engage FDA to discuss AA based on AAT biomarkers; regulatory feedback is expected mid-2026. Importantly, this decision was not triggered based on any data package - GSK has yet to see data from the next cohort (400mg MAD) which remains on track for this Q. On the back of this news, we are increasing our royalty assumptions and giving WVE 100% credit for future potential revenue (vs. royalty payments in the high teens previously). The result is an increase in our YE26 PT to $43 (vs. $40 previously). Maintain BUY."

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