Wave Life Sciences Ltd (NASDAQ:WVE) – Research analysts at SunTrust Banks decreased their Q3 2018 earnings per share (EPS) estimates for shares of Wave Life Sciences in a report issued on Wednesday, August 15th. SunTrust Banks analyst E. Nash now expects that the company will post earnings of ($1.32) per share for the quarter, down from their previous estimate of ($1.21). SunTrust Banks also issued estimates for Wave Life Sciences’ Q4 2018 earnings at ($1.31) EPS, FY2018 earnings at ($5.12) EPS, FY2019 earnings at ($5.03) EPS, FY2020 earnings at ($5.09) EPS and FY2021 earnings at ($0.49) EPS.
Other equities research analysts also recently issued 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 target price on shares of Wave Life Sciences and gave the company a “buy” rating in a research note on Thursday, August 9th. Stifel Nicolaus assumed coverage on shares of Wave Life Sciences in a research note on Monday, August 6th. They issued a “buy” rating and a $56.00 target price for the company. BidaskClub upgraded shares of Wave Life Sciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 4th. Finally, ValuEngine upgraded shares of Wave Life Sciences from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 2nd. One investment analyst has rated the stock with a sell rating, five have given a buy rating and two have issued a strong buy rating to the company. Wave Life Sciences currently has a consensus rating of “Buy” and a consensus price target of $58.40.
NASDAQ WVE opened at $46.80 on Monday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 7.24 and a current ratio of 7.24. Wave Life Sciences has a 52-week low of $16.05 and a 52-week high of $55.95. The company has a market cap of $1.29 billion, a PE ratio of -12.16 and a beta of 0.69.
Wave Life Sciences (NASDAQ:WVE) last released its quarterly earnings data on Thursday, August 9th. The company reported ($1.23) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.35) by ($0.88). Wave Life Sciences had a negative net margin of 1,473.26% and a negative return on equity of 92.00%. The business had revenue of $4.88 million for the quarter, compared to the consensus estimate of $7.38 million.
In other Wave Life Sciences news, insider Paul Bolno sold 31,711 shares of the firm’s stock in a transaction on Wednesday, May 30th. The shares were sold at an average price of $45.00, for a total value of $1,426,995.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Chris Francis sold 24,496 shares of the firm’s stock in a transaction on Monday, July 9th. The stock was sold at an average price of $37.27, for a total transaction of $912,965.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 105,199 shares of company stock valued at $4,630,337. 44.20% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Wave Life Sciences in the first quarter worth $120,000. California Public Employees Retirement System purchased a new position in shares of Wave Life Sciences in the first quarter worth $219,000. Goldman Sachs Group Inc. purchased a new position in shares of Wave Life Sciences in the fourth quarter worth $222,000. Voya Investment Management LLC raised its holdings in shares of Wave Life Sciences by 37.8% in the second quarter. Voya Investment Management LLC now owns 6,873 shares of the company’s stock worth $263,000 after buying an additional 1,884 shares during the last quarter. Finally, Millennium Management LLC purchased a new position in shares of Wave Life Sciences in the first quarter worth $330,000. 81.84% of the stock is owned by institutional investors and hedge funds.
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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