Raymond James upgraded Wave Life Sciences to Strong Buy from Outperform with a price target of $22, up from $13. The stock in afternoon trading is up 72%, or $6.14, to $14.70. The firm cites the company’s “unequivocally successful” milestone achievement of first-in-human RNA editing for the upgrade. This is a “historic scientific milestone” for the RNA editing field and corporate milestone for Wave Life, the analyst tells investors in a research note. Raymond James expects RNA editing “won’t be under the radar any more going forward.”
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