BofA cuts Wave Life Sciences stock price target on trial focus
BofA Securities lowered its price target on Wave Life Sciences to $19 from $21 while maintaining a Buy rating, citing updated financial modeling and trial focus on the INLIGHT phase 2a study of WVE-007 in higher BMI individuals starting in Q2 2026. Despite the stock trading at $7.34 and down 59% year-to-date, analyst consensus sees upside potential, with recent earnings surpassing expectations and FDA approval for further trial development. The firm noted deepening visceral fat loss in early data but questions around dose response, while Wave plans additional studies in 2026. BofA adjusted its model for higher collaboration revenue, share count, and cash position, affecting per-share pipeline valuation.
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Investing.com - BofA Securities lowered its price target on Wave Life Sciences Ltd. (NASDAQ:WVE) to $19 from $21 while maintaining a Buy rating on the shares. The stock currently trades at $7.34, down 59% year-to-date, though analyst consensus suggests significant upside potential with targets ranging from $11 to $52. Analyst Alec Stranahan said the company’s first-quarter 2026 results reinforced focus on the phase 2a multidose portion of the INLIGHT trial of WVE-007 in individuals with higher body mass index. The cohort is set to begin in the second quarter of 2026. Recent data showed a deepening of visceral fat loss over time in the 240 mg single dose cohort but raised questions about dose response and total weight loss in the 400 mg single dose cohort.
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