Why Wave Life Sciences Shares Vaulted Higher Today

Shares of Wave Life Sciences (NASDAQ: WVE) vaulted 5.3% higher as of the market close on Tuesday, after rising as much as 12.2% earlier in the day. The gain resulted from Truist Securities analyst Joon Lee's upgrade of the stock. Lee raised his price target on Wave to $27 from $20.

Analysts' upgrades really don't mean all that much in the big scheme of things. However, it's smart for investors to understand the reasons behind analysts' optimism (or pessimism) about a given stock.

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Source Fool.com