WAVE Life Sciences (WVE) surged 5.18% in pre-market trading following the release of promising interim Phase 1 trial data for its investigational obesity therapy, WVE-007. The results showed a 9.4% reduction in visceral fat, a 4.5% reduction in total body fat, and a 3.2% increase in lean mass at three months, positioning the drug as a potential breakthrough in obesity treatment.
The positive clinical data has prompted multiple analyst upgrades, including RBC raising its target price to $27 from $9, Wells Fargo lifting its target to $29 from $16, and Citigroup boosting its target to $30 from $16. These upgrades reflect growing confidence in WVE-007's commercial potential and the company's broader pipeline.
Investors are betting on WAVE Life Sciences' ability to capitalize on the obesity treatment market, which remains a high-growth area in biopharma. Further clinical updates, including longer-term data, are expected in early 2026.
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