Wave Life Sciences rises as Leerink upgrades to 'outperform', lifts PT

Wave Life Sciences

19/12/2023 15:16

** Shares of Wave Life Sciences  WVE.O  rise 7.5% to $4.83
in early trade
    ** Brokerage Leerink Partners upgrades its rating on WVE to
'outperform' from 'market perform', and raises PT to $12 from $5
    ** Co will report study data next year on therapy candidates
for a genetic brain cell degrading condition, a type of muscle
wasting disorder and a genetic protein deficiency disorder 
    ** Leerink is optimistic about WVE’s pipeline programs and
says they should have higher probabilities of success 
    ** Ongoing collaboration and financial support from bigger
partners like GSK  GSK.L  and Takeda  4502.T  validates its
programs on a genetic protein deficiency disorder and a genetic
brain cell degrading condition respectively - Leerink
    ** 5 of 7 brokerages rate the stock "buy" or higher, 2
"hold"; their median PT is $8
    ** Despite the session's gain, stock down 35.9% YTD

 (Reporting by Puyaan Singh)
 ((Puyaan.Singh@thomsonreuters.com;))