JPMorgan reinstated coverage of Wave Life Sciences with an Overweight rating with a price target of $13, up from $10, following a period of restriction. The price target reflects increased probability of success assumptions for WVE-N531 on the heels of recent positive FORWARD-53 results in the treatment of Exon 53 skip amenable Duchenne muscular dystrophy, the analyst tells investors in a research note. The firm also placed Wave Life shares on “Positive Catalyst Watch,” in relation to the WVE-006 proof-of-mechanism readout in alpha-1 antitrypsin deficiency, anticipated within Q4.
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