Wave Life Sciences (WVE) Lifted to “Buy” at BidaskClub

BidaskClub upgraded shares of Wave Life Sciences (NASDAQ:WVE) from a hold rating to a buy rating in a research note published on Tuesday morning.

Other research analysts have also issued research reports about the stock. HC Wainwright set a $49.00 target price on shares of Wave Life Sciences and gave the company a buy rating in a research note on Friday, August 10th. Mizuho set a $65.00 price target on shares of Wave Life Sciences and gave the company a buy rating in a research report on Thursday, August 9th. Stifel Nicolaus started coverage on shares of Wave Life Sciences in a research report on Monday, August 6th. They issued a buy rating and a $56.00 price target on the stock. Finally, Leerink Swann started coverage on shares of Wave Life Sciences in a research report on Tuesday, November 27th. They issued an outperform rating and a $61.00 price target on the stock. One analyst has rated the stock with a sell rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $58.20.

Shares of NASDAQ WVE opened at $47.49 on Tuesday. The stock has a market capitalization of $1.38 billion, a PE ratio of -12.34 and a beta of 1.09. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.85 and a current ratio of 1.85. Wave Life Sciences has a 1 year low of $31.65 and a 1 year high of $56.00.

Wave Life Sciences (NASDAQ:WVE) last issued its earnings results on Friday, November 9th. The company reported ($1.28) earnings per share (EPS) for the quarter, missing the 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 net margin of 1,114.49% and a negative return on equity of 112.13%. Analysts expect that Wave Life Sciences will post -5 EPS for the current year.

In related news, VP Chandra Vargeese sold 3,000 shares of the stock in a transaction that occurred on Monday, September 24th. The shares were sold at an average price of $55.00, for a total value of $165,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Keith Regnante sold 29,500 shares of the stock in a transaction that occurred on Monday, September 24th. The shares were sold at an average price of $55.00, for a total transaction of $1,622,500.00. The disclosure for this sale can be found here. Insiders sold a total of 59,075 shares of company stock worth $3,018,600 over the last quarter. 44.20% of the stock is currently owned by corporate insiders.

Hedge funds have recently made changes to their positions in the business. Redmile Group LLC raised its holdings in Wave Life Sciences by 0.3% during the 2nd quarter. Redmile Group LLC now owns 2,244,507 shares of the company’s stock worth $85,852,000 after buying an additional 6,900 shares during the period. Spark Investment Management LLC raised its holdings in Wave Life Sciences by 38.1% during the 2nd quarter. Spark Investment Management LLC now owns 155,600 shares of the company’s stock worth $5,951,000 after buying an additional 42,900 shares during the period. Boxer Capital LLC raised its holdings in Wave Life Sciences by 17.8% during the 2nd quarter. Boxer Capital LLC now owns 1,590,600 shares of the company’s stock worth $60,840,000 after buying an additional 240,600 shares during the period. UBS Group AG raised its holdings in Wave Life Sciences by 26.0% during the 1st quarter. UBS Group AG now owns 8,356 shares of the company’s stock worth $335,000 after buying an additional 1,723 shares during the period. Finally, Point72 Asset Management L.P. raised its holdings in Wave Life Sciences by 727.4% during the 2nd quarter. Point72 Asset Management L.P. now owns 350,000 shares of the company’s stock worth $13,388,000 after buying an additional 307,700 shares during the period. Hedge funds and other institutional investors own 80.78% of the company’s stock.

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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