Zacks: Analysts Anticipate Wave Life Sciences Ltd (NASDAQ:WVE) to Announce -$1.05 Earnings Per Share

Brokerages expect Wave Life Sciences Ltd (NASDAQ:WVE) to report earnings per share (EPS) of ($1.05) for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Wave Life Sciences’ earnings. The lowest EPS estimate is ($1.37) and the highest is ($0.57). Wave Life Sciences reported earnings of ($1.23) per share during the same quarter last year, which indicates a positive year-over-year growth rate of 14.6%. The firm is expected to announce its next earnings results on Thursday, August 8th.

On average, analysts expect that Wave Life Sciences will report full year earnings of ($4.50) per share for the current financial year, with EPS estimates ranging from ($5.88) to ($1.69). For the next fiscal year, analysts forecast that the firm will report earnings of ($4.73) per share, with EPS estimates ranging from ($5.83) to ($3.32). Zacks’ earnings per share calculations are an average based on a survey of analysts that follow Wave Life Sciences.

Wave Life Sciences (NASDAQ:WVE) last announced its quarterly earnings results on Friday, May 10th. The company reported ($1.36) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.19) by ($0.17). Wave Life Sciences had a negative net margin of 971.48% and a negative return on equity of 120.60%. The business had revenue of $3.03 million during the quarter, compared to the consensus estimate of $9.66 million.

WVE has been the topic of several recent research reports. SunTrust Banks raised their price target on shares of Perrigo to $51.00 and gave the company a “hold” rating in a research report on Monday, May 20th. ValuEngine cut shares of Wave Life Sciences from a “buy” rating to a “hold” rating in a research report on Tuesday, April 16th. HC Wainwright cut shares of Hydrogenics from a “buy” rating to a “neutral” rating in a research report on Friday, June 28th. 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 Saturday, June 29th. Finally, Stifel Nicolaus raised shares of QUALCOMM from a “hold” rating to a “buy” rating and raised their price target for the company from $57.00 to $100.00 in a research report on Tuesday, April 16th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $50.80.

In other Wave Life Sciences news, insider Michael A. Panzara sold 3,058 shares of the stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $26.94, for a total value of $82,382.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 39.70% of the company’s stock.

A number of large investors have recently bought and sold shares of WVE. Citigroup Inc. increased its stake in Wave Life Sciences by 189.4% in the 4th quarter. Citigroup Inc. now owns 2,807 shares of the company’s stock valued at $118,000 after buying an additional 1,837 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in shares of Wave Life Sciences by 17.9% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 3,045 shares of the company’s stock worth $118,000 after purchasing an additional 462 shares during the last quarter. Amundi Pioneer Asset Management Inc. increased its stake in shares of Wave Life Sciences by 45.0% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 2,900 shares of the company’s stock worth $122,000 after purchasing an additional 900 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Wave Life Sciences by 17.9% during the 4th quarter. Legal & General Group Plc now owns 3,094 shares of the company’s stock worth $130,000 after purchasing an additional 469 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Wave Life Sciences during the 1st quarter worth approximately $140,000. Hedge funds and other institutional investors own 85.62% of the company’s stock.

NASDAQ WVE traded down $0.92 during trading hours on Tuesday, hitting $23.16. The company’s stock had a trading volume of 273,025 shares, compared to its average volume of 219,624. Wave Life Sciences has a 52 week low of $22.25 and a 52 week high of $56.00. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.39 and a current ratio of 2.39. The company’s 50-day moving average price is $25.54.

About Wave Life Sciences

Wave Life Sciences Ltd., a clinical stage genetic medicine company, designs, optimizes, and produces of novel stereopure oligonucleotides through PRISM, a discovery and drug developing 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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