Bank of America initiated coverage on Wave Life Sciences with a strong buy rating, setting a 12-month price target that reflects a potential 240% gain from current levels. This represents one of the most bullish outlooks among analysts covering the oligonucleotide sector.

The upgrade stems from progress in WVE’s proprietary splice-modulating and RNA editing candidates, including positive early-stage data and upcoming readouts. The firm expects these assets to meaningfully de-risk the pipeline and drive valuation re-rating over the next year.