Wave Life Sciences price target raised to $22 from $15 at H.C. Wainwright

H.C. Wainwright raised the firm’s price target on Wave Life Sciences to $22 from $15 and keeps a Buy rating on the shares. The WVE-N531 interim data today is “impressive when it comes to dystrophin expression levels, safety, and dosing, putting ‘N531 as a potential best-in-class exon skippers in the landscape,” the analyst tells investors in a research note. The firm says the mean absolute muscle content adjusted dystrophin expression of 9% is impressive across the landscape. The data follows a “considerably high” exon skipping activity, which validates Wave’s exon skipping platform and other pipeline programs, contends H.C. Wainwright. The firm increased its probability of sucess for WVE-N531 to 60% from 20%.