Leerink Partners Reiterates a Buy Rating on Wave Life Sciences (WVE), Keeps the PT at $24

Wave Life Sciences Ltd. (NASDAQ:WVE) is one of the 13 Best Healthcare Stocks to Buy Under $10. On July 4, analyst Joseph Schwartz of Leerink Partners reiterated a Buy rating on Wave Life Sciences Ltd. (NASDAQ:WVE), retaining the price target of $24.00.

The analyst supported the rating with the company’s promising developments in RNA editing, especially in the treatment for alpha-1-antitrypsin deficiency (AATD). He reasoned that the initial human data for the company’s WVE-006 compound exhibited optimistic results, as patients reached notable levels of AAT protein after a single low dose.

According to Schwartz, this breakthrough marks a significant milestone for Wave Life Sciences Ltd. (NASDAQ:WVE) while also setting a precedent for the broader RNA editing domain. He expects the upcoming data readouts to have further positive outcomes and anticipates a dose-dependent rise in efficacy with an increase in dosage.

The analyst also stated that the potential to exceed the established 11 µM threshold for AAT protein, and even approach normal healthy levels, may cause a considerable boost to the stock’s value.

Wave Life Sciences Ltd. (NASDAQ:WVE) is a clinical-stage biotechnology company that develops and commercializes ribonucleic acid (RNA) medicines through PRISM, a discovery and drug development platform. PRISM combines a deep understanding of human genetics with chemistry innovation and multiple modalities for scientific discoveries and breakthroughs that treat prevalent and rare disorders.

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Disclosure: None. This article is originally published at Insider Monkey.