B. Riley analyst Madison El-Saadi last night initiated coverage of Wave Life Sciences with a Buy rating and $11 price target. Wave is pioneering “multiple differentiated” RNA-based modalities, namely allele-selective silencing and RNA-editing, which each represent a new branch of RNA-based medicines that are stereochemically pure with a PN-modified backbone, the analyst tells investors in a research note. The firm believes the company’s platform has the potential to progress medicines across multiple tissue verticals while attracting significant investment.
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