Wave Life Sciences price target raised to $50 from $47 at Clear Street

Core Viewpoint - Clear Street has raised the price target for Wave Life Sciences (WVE) to $50 from $47 while maintaining a Buy rating, viewing the return of rights to WVE-006 by GSK as an overall positive development [1] Group 1: Price Target and Rating - Clear Street increased the price target for WVE to $50 from $47 [1] - The firm maintains a Buy rating on WVE shares [1] Group 2: GSK's Decision and Market Reaction - GSK returned the rights to WVE-006 for alpha1-antitrypsin deficiency, which is seen as a positive by Clear Street [1] - The muted stock reaction is attributed to the greater importance of WVE-007 in Wave Life's overall valuation, overshadowing the alpha-1 antitrypsin deficiency program [1] Group 3: Analyst Confidence - Despite GSK's decision, Clear Street continues to believe in the potential of the alpha-1 antitrypsin deficiency program [1]