Jefferies Maintains “Buy” Rating on Wave Life Sciences (WVE) Amid Its Improving Competitive Positioning

With significant upside potential, Wave Life Sciences Ltd. (NASDAQ:WVE) secures a spot on our list of the best small-cap biotech stocks to buy according to analysts.

Jefferies Maintains “Buy” Rating on Wave Life Sciences (WVE) Amid Its Improving Competitive Positioning

On November 13, 2025, Jefferies analyst Roger Song noted that Wave Life Sciences Ltd. (NASDAQ:WVE)’s competitive positioning is improving, with Korro Bio’s KRRO-110 reporting failure to produce protective levels of corrected protein in a Phase 1/2 AATD trial. This led to the discontinuation of Korro Bio’s lead asset. The analyst keeps a “Buy” rating with a $26 price target on Wave Life Sciences.

Meanwhile, Wave Life Sciences Ltd. (NASDAQ:WVE) reported its Q3 results on November 10, 2025, where its $7.6 million revenue missed analyst forecasts of $12.89 million. At the same time, the company reduced its net loss from $61.8 million in Q3 2024 to $53.9 million, despite R&D and G&A expenses increasing to $45.9 million and $18.1 million. Increased costs were related to the company’s ongoing investment in clinical programs, particularly the WVE-007 trial.

Furthermore, the quarter saw Wave Life Sciences Ltd. (NASDAQ:WVE) reporting a cash runway extended through Q2 2027. This will help ensure operational continuity and funding for ongoing clinical and development initiatives. Looking ahead, the company seems well-positioned to advance its clinical-stage pipeline, as it remains focused on RNA-based therapies and strategic expansion of its product development programs.

Wave Life Sciences Ltd. (NASDAQ:WVE), a clinical-stage biotech company, develops and commercializes ribonucleic acid (RNA) medicines with the help of its proprietary PRISM discovery and drug development platform.

While we acknowledge the potential of WVE to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than WVE and that has 100x upside potential, check out our report about this cheapest AI stock.

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