"The INLIGHT interim readout reported a 14.3% placebo-adjusted reduction in visceral fat six months after a single dose, alongside preservation of lean muscle mass - a differentiated profile compared to GLP-1 therapies that often reduce muscle alongside fat."
"BofA lowered its price target to $21 from $38 while maintaining a Buy rating, arguing that more evidence is needed to convince investors of WVE-007's potential - particularly as a monotherapy."
"Wells Fargo cut its target to $13 from $27, keeping an Overweight rating, but flagged reduced conviction that Activin E knockdown in the liver will reliably drive meaningful fat loss."
"A complicating factor: the Phase 1 population included individuals with lower BMI than typical obesity studies, meaning the monotherapy signal in the patients most likely to benefit remains untested."
Wave Life Sciences' stock fell nearly 50% to $6.20 after two firms lowered price targets following Phase 1 INLIGHT trial data for WVE-007. The stock is down over 60% this year. BofA reduced its target to $21, citing the need for more evidence on WVE-007's potential, while Wells Fargo cut its target to $13, expressing concerns about the drug's efficacy. The INLIGHT trial showed a 14.3% reduction in visceral fat but did not meet market expectations. The Phase 1 population had lower BMI, leaving the monotherapy signal untested in higher BMI patients, with Phase 2a planned for 2026.
Read at 24/7 Wall St.
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