Wave Life Sciences Ltd (NASDAQ:WVE) has earned an average rating of “Buy” from the nine brokerages that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $58.40.
Several equities analysts have recently weighed in on the company. TheStreet cut Wave Life Sciences from a “c-” rating to a “d+” rating in a research report on Thursday, May 31st. Mizuho set a $65.00 price target on Wave Life Sciences and gave the company a “buy” rating in a research report on Friday, June 29th. ValuEngine upgraded Wave Life Sciences from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 2nd. BidaskClub cut Wave Life Sciences from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 21st. Finally, Stifel Nicolaus started coverage on Wave Life Sciences in a research report on Monday, August 6th. They set a “buy” rating and a $56.00 target price for the company.
In related news, insider Chris Francis sold 48,992 shares of the business’s stock in a transaction dated Friday, June 1st. The stock was sold at an average price of $46.75, for a total transaction of $2,290,376.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul Bolno sold 31,711 shares of the business’s stock in a transaction dated Wednesday, May 30th. The stock was sold at an average price of $45.00, for a total value of $1,426,995.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 105,199 shares of company stock valued at $4,630,337. 44.20% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Wave Life Sciences in the 1st quarter worth about $120,000. California Public Employees Retirement System purchased a new position in shares of Wave Life Sciences in the 1st quarter worth about $219,000. Goldman Sachs Group Inc. purchased a new position in shares of Wave Life Sciences in the 4th quarter worth about $222,000. Voya Investment Management LLC boosted its holdings in shares of Wave Life Sciences by 37.8% in the 2nd quarter. Voya Investment Management LLC now owns 6,873 shares of the company’s stock worth $263,000 after purchasing an additional 1,884 shares in the last quarter. Finally, Millennium Management LLC purchased a new position in shares of Wave Life Sciences in the 1st quarter worth about $330,000. Institutional investors and hedge funds own 81.84% of the company’s stock.
Shares of NASDAQ WVE traded up $0.70 during mid-day trading on Wednesday, hitting $47.50. The company had a trading volume of 105 shares, compared to its average volume of 185,862. The stock has a market cap of $1.29 billion, a PE ratio of -12.32 and a beta of 0.69. Wave Life Sciences has a 1 year low of $16.05 and a 1 year high of $55.95. 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 (NASDAQ:WVE) last announced its quarterly earnings results on Thursday, August 9th. The company reported ($1.23) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.35) by ($0.88). The company had revenue of $4.88 million during the quarter, compared to analysts’ expectations of $7.38 million. Wave Life Sciences had a negative net margin of 1,473.26% and a negative return on equity of 92.00%. sell-side analysts predict that Wave Life Sciences will post -4.62 EPS for the current year.
Wave Life Sciences Company Profile
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.
Further Reading: Fundamental Analysis
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