Leerink Partners on WAVE Life Sciences (WVE) after obesity data disappoints: selloff 'very overdone'

Leerink Partners analyst Joseph P. Schwartz reiterated an Outperform rating and $35.00 price target on WAVE Life Sciences (NASDAQ: WVE)

The analyst commented, "WVE reported data from the Phase 1 INLIGHT study of WVE-007 in obesity that may be disappointing on the surface, driving this morning's stock reaction. However, we like the continued improvement in visceral fat reduction at 240 mg after 6 months as well as the larger reduction on waist circumference and measurable body weight reduction in this lower BMI subgroup. Investors are likely discouraged by the 400 mg data at 3 months, which look similar on visceral fat as 240 mg and not as good on total fat and lean mass, though there appear to be some differences in the baseline BMI and body composition of this cohort that could explain some of these observations. The stock's reaction premarket (down over 50%) seems to remove all value for WVE-007 (and then some) which is very overdone in our opinion. WVE has $602M in cash as of the end of 4Q25 ($3.34/share) and runway into 3Q28."

For an analyst ratings summary and ratings history on WAVE Life Sciences click here. For more ratings news on WAVE Life Sciences click here.

Shares of WAVE Life Sciences closed at $12.30 yesterday.

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