Wave Life Sciences Ltd (WVE) Receives $57.50 Consensus PT from Analysts

Shares of Wave Life Sciences Ltd (NASDAQ:WVE) have received an average rating of “Buy” from the nine brokerages that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $57.50.

A number of equities analysts recently weighed in on WVE shares. BidaskClub downgraded shares of Wave Life Sciences from a “strong-buy” rating to a “buy” rating in a report on Friday, September 28th. Leerink Swann restated an “outperform” rating on shares of Wave Life Sciences in a report on Sunday, November 11th. Stifel Nicolaus started coverage on shares of Wave Life Sciences in a report on Monday, August 6th. They set a “buy” rating and a $56.00 target price on the stock. Mizuho set a $65.00 target price on shares of Wave Life Sciences and gave the stock a “buy” rating in a report on Thursday, August 9th. Finally, HC Wainwright set a $49.00 target price on shares of Wave Life Sciences and gave the stock a “buy” rating in a report on Friday, August 10th.

In other Wave Life Sciences news, Director Gregory L. Verdine sold 15,000 shares of the company’s stock in a transaction on Wednesday, November 14th. The shares were sold at an average price of $38.86, for a total value of $582,900.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Chandra Vargeese sold 3,000 shares of the company’s stock in a transaction on Monday, September 24th. The shares were sold at an average price of $55.00, for a total transaction of $165,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 59,075 shares of company stock worth $3,018,600. 44.20% of the stock is owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in WVE. Wells Fargo & Company MN increased its holdings in shares of Wave Life Sciences by 5,257.8% in the second quarter. Wells Fargo & Company MN now owns 360,633 shares of the company’s stock valued at $13,794,000 after purchasing an additional 353,902 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Wave Life Sciences by 37.0% in the second quarter. BlackRock Inc. now owns 1,201,655 shares of the company’s stock valued at $45,963,000 after purchasing an additional 324,659 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in shares of Wave Life Sciences by 727.4% in the second quarter. Point72 Asset Management L.P. now owns 350,000 shares of the company’s stock valued at $13,388,000 after purchasing an additional 307,700 shares during the last quarter. BB Biotech AG increased its holdings in shares of Wave Life Sciences by 21.7% in the third quarter. BB Biotech AG now owns 1,385,002 shares of the company’s stock valued at $69,250,000 after purchasing an additional 247,117 shares during the last quarter. Finally, Boxer Capital LLC increased its holdings in shares of Wave Life Sciences by 17.8% in the second quarter. Boxer Capital LLC now owns 1,590,600 shares of the company’s stock valued at $60,840,000 after purchasing an additional 240,600 shares during the last quarter. Hedge funds and other institutional investors own 82.78% of the company’s stock.

Shares of WVE opened at $42.85 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.85 and a current ratio of 1.85. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of -11.13 and a beta of 1.10. Wave Life Sciences has a twelve month low of $31.65 and a twelve month high of $56.00.

Wave Life Sciences (NASDAQ:WVE) last announced its quarterly earnings data on Friday, November 9th. The company reported ($1.28) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.26) by ($0.02). The business had revenue of $4.49 million during the quarter, compared to the consensus estimate of $5.36 million. Wave Life Sciences had a negative return on equity of 112.13% and a negative net margin of 1,114.49%. Analysts anticipate that Wave Life Sciences will post -5 earnings per share for the current year.

About Wave Life Sciences

Wave Life Sciences Ltd., a biotechnology company, designs, develops, and commercializes nucleic acid therapeutic candidates for genetically defined diseases by utilizing proprietary synthetic chemistry drug development platform. The company is primarily developing oligonucleotides that target genetic defects to either reduce the expression of disease-promoting proteins or transform the production of dysfunctional mutant proteins into the production of functional proteins.

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Analyst Recommendations for Wave Life Sciences (NASDAQ:WVE)

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