Wave Life Sciences Ltd (NASDAQ:WVE) Expected to Announce Quarterly Sales of $5.90 Million

Equities research analysts expect Wave Life Sciences Ltd (NASDAQ:WVE) to announce sales of $5.90 million for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Wave Life Sciences’ earnings, with estimates ranging from $3.00 million to $9.50 million. Wave Life Sciences posted sales of $4.49 million during the same quarter last year, which indicates a positive year-over-year growth rate of 31.4%. The company is expected to announce its next earnings report on Friday, November 8th.

According to Zacks, analysts expect that Wave Life Sciences will report full-year sales of $24.16 million for the current financial year, with estimates ranging from $16.69 million to $31.70 million. For the next financial year, analysts anticipate that the company will report sales of $67.78 million, with estimates ranging from $13.88 million to $150.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Wave Life Sciences.

Wave Life Sciences (NASDAQ:WVE) last released its quarterly earnings data on Monday, July 29th. The company reported ($1.22) EPS for the quarter, missing the consensus estimate of ($1.11) by ($0.11). Wave Life Sciences had a negative net margin of 861.41% and a negative return on equity of 120.41%. The business had revenue of $7.63 million during the quarter, compared to analysts’ expectations of $15.76 million.

WVE has been the subject of several research analyst reports. Mizuho reiterated a “buy” rating and issued a $65.00 price objective on shares of Wave Life Sciences in a research report on Monday, July 22nd. Stifel Nicolaus cut Wave Life Sciences from a “buy” rating to a “hold” rating in a research note on Tuesday, April 16th. SunTrust Banks decreased their target price on Wave Life Sciences to $39.00 and set a “buy” rating for the company in a research note on Monday, May 20th. Zacks Investment Research cut Wave Life Sciences from a “buy” rating to a “hold” rating in a research note on Saturday, August 3rd. Finally, BidaskClub raised Wave Life Sciences from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $49.50.

Shares of Wave Life Sciences stock traded down $0.31 on Friday, hitting $21.06. The company’s stock had a trading volume of 2,207 shares, compared to its average volume of 387,548. Wave Life Sciences has a 52-week low of $18.16 and a 52-week high of $56.00. The company has a quick ratio of 2.33, a current ratio of 2.33 and a debt-to-equity ratio of 0.19. The business has a fifty day moving average of $23.56. The stock has a market cap of $731.89 million, a P/E ratio of -4.15 and a beta of 0.81.

In other Wave Life Sciences news, insider Michael A. Panzara sold 3,058 shares of Wave Life Sciences stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $26.94, for a total value of $82,382.52. The sale was disclosed in a filing with the SEC, which is available through this link. 39.70% of the stock is currently owned by company insiders.

Several large investors have recently made changes to their positions in the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in Wave Life Sciences by 17.9% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 3,045 shares of the company’s stock valued at $118,000 after acquiring an additional 462 shares during the period. Legal & General Group Plc boosted its position in shares of Wave Life Sciences by 17.9% during the fourth quarter. Legal & General Group Plc now owns 3,094 shares of the company’s stock worth $130,000 after buying an additional 469 shares during the period. Matisse Capital boosted its position in shares of Wave Life Sciences by 1.5% during the first quarter. Matisse Capital now owns 45,111 shares of the company’s stock worth $1,753,000 after buying an additional 657 shares during the period. Swiss National Bank boosted its position in shares of Wave Life Sciences by 2.4% during the second quarter. Swiss National Bank now owns 34,200 shares of the company’s stock worth $892,000 after buying an additional 800 shares during the period. Finally, Amundi Pioneer Asset Management Inc. boosted its position in shares of Wave Life Sciences by 45.0% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 2,900 shares of the company’s stock worth $122,000 after buying an additional 900 shares during the period. 86.28% of the stock is currently owned by institutional investors.

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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