Mizuho Reiterates Outperform Rating on WAVE Life Sciences (WVE)

Mizuho analyst Salim Syed reiterated an Outperform rating and $22.00 price target on WAVE Life Sciences (NASDAQ: WVE)

The analyst comments "Importantly, in our view, (1) today's data do not seem necessarily better than WVE-006's (at this point; since both drugs seem to be able to get to the 11uM AAT threshold, with functional M protein) -- recall, these are fundamentally different modalities (BEAM's permanent DNA editing; vs. WVE's temporary/reversible RNA editing and perhaps more optimal for multi-dose to potentially push AAT levels higher); (2) BEAM-302's data are only in lung patients so far -- we'd argue future safety data in liver patients could be important (Part B w/ liver patients expected to initiate in 2H25) especially as it relates to potential liver enzyme (LFT) elevations (seen in today's lung cohort); and (3) questions around potential off-target editing (BEAM-302 showed some preclinically; was not addressed on today's call) -- especially longer-term, and as it relates to what the FDA may or may not want to see down the road, safety-wise. (4) Potential path forward -- updated Part A data and initiation of Part B (liver patients) expected in 2H25."

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 $9.40 yesterday.

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