Wave Life Sciences Sets $38 Target, Foresees $11B WVE-007 Sales, Regains AATD Rights
Bank of America initiated coverage of Wave Life Sciences with a Buy rating and $38 target, projecting WVE-007 peak unadjusted sales above $11 billion and accounting for 56 percent of the valuation. Wave regained full global rights to AATD candidate WVE-006, unlocking up to $2.8 billion in milestones with FDA feedback due mid-2026.
1. BofA Initiates Coverage Highlighting WVE-007
Bank of America initiated coverage of Wave Life Sciences with a Buy rating and a $38 price target, attributing approximately 56% of its valuation to WVE-007. The investigational siRNA candidate for obesity is modeled to deliver peak unadjusted sales above $11 billion, driven by body composition differentiation.
2. Global Rights Reversion for WVE-006 in AATD
Wave regained full global rights to WVE-006 from GSK for potential therapy in alpha-1 antitrypsin deficiency, a genetic disorder affecting lung and liver function in about 200,000 patients. The company plans to engage the FDA on an accelerated approval pathway, expects feedback by mid-2026, and can earn up to $2.8 billion in milestones and royalties.