Equities research analysts expect Wave Life Sciences Ltd (NASDAQ:WVE) to announce sales of $5.36 million for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Wave Life Sciences’ earnings, with the lowest sales estimate coming in at $700,000.00 and the highest estimate coming in at $11.40 million. Wave Life Sciences reported sales of $680,000.00 during the same quarter last year, which indicates a positive year over year growth rate of 688.2%. The firm is scheduled to report its next quarterly earnings results on Thursday, November 8th.
On average, analysts expect that Wave Life Sciences will report full year sales of $17.18 million for the current year, with estimates ranging from $7.70 million to $29.10 million. For the next year, analysts forecast that the firm will post sales of $79.17 million, with estimates ranging from $5.16 million to $160.00 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Wave Life Sciences.
Wave Life Sciences (NASDAQ:WVE) last issued its quarterly earnings data on Thursday, August 9th. The company reported ($1.23) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.35) by ($0.88). The company had revenue of $4.88 million for the quarter, compared to the consensus estimate of $7.38 million. Wave Life Sciences had a negative net margin of 1,473.26% and a negative return on equity of 91.88%.
Several research firms have weighed in on WVE. BidaskClub downgraded shares of Wave Life Sciences from a “buy” rating to a “hold” rating in a research report on Tuesday, October 9th. ValuEngine upgraded shares of Wave Life Sciences from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 2nd. Mizuho set a $65.00 price target on shares of Wave Life Sciences and gave the stock a “buy” rating in a research report on Friday, June 29th. HC Wainwright reiterated a “buy” rating and issued a $49.00 price target on shares of Wave Life Sciences in a research report on Monday, July 23rd. Finally, Stifel Nicolaus began 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. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Wave Life Sciences presently has a consensus rating of “Buy” and a consensus price target of $58.40.
WVE traded down $0.20 during trading on Friday, hitting $48.69. The company’s stock had a trading volume of 46,775 shares, compared to its average volume of 170,487. The company has a current ratio of 6.11, a quick ratio of 6.11 and a debt-to-equity ratio of 0.05. Wave Life Sciences has a one year low of $21.20 and a one year high of $56.00. The company has a market capitalization of $1.47 billion, a PE ratio of -12.30 and a beta of 1.00.
In other Wave Life Sciences news, VP Chandra Vargeese sold 3,000 shares of Wave Life Sciences stock in a transaction 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Keith Regnante sold 29,500 shares of Wave Life Sciences stock in a transaction on Monday, September 24th. The stock was 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 44,075 shares of company stock valued at $2,435,700 over the last three months. Corporate insiders own 44.20% of the company’s stock.
Large investors have recently modified their holdings of the business. California Public Employees Retirement System bought a new stake in shares of Wave Life Sciences in the 1st quarter worth about $219,000. GSA Capital Partners LLP lifted its holdings in shares of Wave Life Sciences by 84.4% in the 1st quarter. GSA Capital Partners LLP now owns 20,100 shares of the company’s stock worth $806,000 after acquiring an additional 9,200 shares during the last quarter. Citadel Advisors LLC bought a new stake in shares of Wave Life Sciences in the 1st quarter worth about $449,000. Platinum Investment Management Ltd. bought a new stake in shares of Wave Life Sciences in the 1st quarter worth about $1,291,000. Finally, UBS Group AG lifted its holdings in shares of Wave Life Sciences by 26.0% in the 1st quarter. UBS Group AG now owns 8,356 shares of the company’s stock worth $335,000 after acquiring an additional 1,723 shares during the last quarter. 83.42% 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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