Truist reiterated a Buy rating and $36 price target on Wave Life Sciences (WVE) after the company presented new data from its WVE-007 weight loss treatment study. WVE-007 could usher in a “new wave” of obesity therapeutics, with data showing a knockdown of Activin E in a dose-dependent manner that is squarely in “target range,” the analyst tells investors in a research note. The firm noted, however, that the key unknown is how long of a follow-up may be needed in humans to see similar weight loss, and that it is widely understood that the data may need to mature to approach sema-like weight loss.
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