H.C. Wainwright Thinks Wave Life Sciences’ Stock is Going to Recover


In a report released today, Debjit Chattopadhyay from H.C. Wainwright maintained a Buy rating on Wave Life Sciences (WVE), with a price target of $33. The company’s shares closed on Friday at $27.70, close to its 52-week low of $22.90.

Chattopadhyay said:

“We value WAVE $33 per share, which reflects: (1) elimination of the DMD franchise from our model; (2) estimated launch of the FTD and ALS programs pushed out to 2025 from prior 2023; and (3) estimated launch in HD pushed out to 2025 from prior 2023, which reflects the Phase 3 design and duration of a peer program. Our $33 target is based on a risk-adjusted, sum-of-the-parts DCF analysis: beta of 1.15, terminal growth rate of 0.5%, risk premium of 4.93%, calculated WACC of 8.3%, and tax rate of 15% beginning in FY 2030, and is now 100% leveraged to the company’s CNS portfolio.”

According to TipRanks.com, Chattopadhyay is a 3-star analyst with an average return of 1.8% and a 46.6% success rate. Chattopadhyay covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Voyager Therapeutics Inc, and Autolus Therapeutics Plc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Wave Life Sciences with a $41.33 average price target, implying a 49.2% upside from current levels. In a report issued on May 6, Mizuho Securities also maintained a Buy rating on the stock with a $65 price target.

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The company has a one-year high of $56 and a one-year low of $22.90. Currently, Wave Life Sciences has an average volume of 486.1K.

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Wave Life Sciences Ltd. is a biotechnology company, which engages in the development of proprietary synthetic chemistry drug. It focuses on the design, development, and commercialization of nucleic acid-based therapeutics. The company was founded by Gregory L. Verdine and Takeshi Wada on July 23, 2012 and is headquartered in Singapore.

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