B. Riley analyst Madison El-Saadi raised the firm’s price target on Wave Life Sciences to $19 from $11 and keeps a Buy rating on the shares. The price target increase reflects the firm’s conviction that Wave Life Sciences’ wholly-owned Duchenne muscular dystrophy franchise will quickly produce multiple best-in-class exon skippers that will deliver functional skeletal and cardiac benefit to 40% of the DMD market, expanding the longer-term market opportunity by 4x, the analyst tells investors in a research note.
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