Wave Life Sciences (WVE) to Benefit From Optimism Surrounding Alpha-1 Antitrypsin Deficiency Program

Wave Life Sciences (NASDAQ:WVE) is one of the 17 biotechnology stocks with more than 50% upside.

As of the February 12 closing, consensus sentiment around Wave Life Sciences (NASDAQ:WVE) remained strongly bullish. The stock received coverage from 15 analysts, all of whom assigned Buy ratings. The stock has a projected median 1-year price target of $32.57, implying more than 154% upside.

On February 2, William Maughan from Clear Street reiterated his Buy rating for Wave Life Sciences (NASDAQ:WVE). In the process, he raised the target price from $47 to $50, which indicates almost 291% upside for investors.

Maughan shared his views after GlaxoSmithKline (GSK) transferred the rights to WVE-006 for alpha-1 antitrypsin deficiency. The analyst viewed this development as overall positive for Wave Life Sciences (NASDAQ:WVE), though a muted reaction reflects the greater significance of WVE-007 in the stock’s valuation. Maughan also remains optimistic about the company’s alpha-1 antitrypsin deficiency program.

Wave Life Sciences (NASDAQ:WVE) develops and commercializes ribonucleic acid (RNA) medicines, with a focus on RNA editing, splicing, and silencing. The company leverages its technology platform, PRISM, which ensures precision targeting of diseases and improvement of pharmacological properties through stereopure oligonucleotides. It currently has a pipeline of programs comprising WVE-006, WVE-007, and WVE-N531.

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