WAVE Life Sciences (NASDAQ:WVE) has earned a consensus recommendation of “Buy” from the nine ratings firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and six have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $53.40.
WVE has been the subject of a number of recent analyst reports. Mizuho lifted their target price on shares of WAVE Life Sciences from $34.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, March 19th. Zacks Investment Research cut shares of WAVE Life Sciences from a “hold” rating to a “sell” rating in a research note on Saturday, January 13th. BidaskClub upgraded shares of WAVE Life Sciences from a “hold” rating to a “buy” rating in a research note on Tuesday, February 13th. SunTrust Banks lifted their price objective on shares of WAVE Life Sciences to $60.00 and gave the company a “buy” rating in a research note on Friday, March 9th. Finally, Leerink Swann lifted their price objective on shares of WAVE Life Sciences from $53.00 to $64.00 and gave the company an “outperform” rating in a research note on Wednesday, February 21st.
Shares of NASDAQ:WVE traded up $0.72 during trading on Thursday, reaching $41.82. The stock had a trading volume of 26,900 shares, compared to its average volume of 162,640. WAVE Life Sciences has a one year low of $15.15 and a one year high of $55.95. The stock has a market capitalization of $1,146.28, a P/E ratio of -10.68 and a beta of 0.69. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.67 and a current ratio of 7.67.
WAVE Life Sciences (NASDAQ:WVE) last released its quarterly earnings results on Monday, March 12th. The company reported ($1.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.09). The firm had revenue of $1.68 million during the quarter, compared to the consensus estimate of $0.63 million. WAVE Life Sciences had a negative net margin of 2,754.73% and a negative return on equity of 66.73%. research analysts forecast that WAVE Life Sciences will post -3.6 EPS for the current year.
In other news, insider Chandra Vargeese sold 2,000 shares of WAVE Life Sciences stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $40.00, for a total transaction of $80,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael A. Panzara sold 511 shares of WAVE Life Sciences stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $52.10, for a total transaction of $26,623.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,466 shares of company stock valued at $1,321,808. Company insiders own 53.00% of the company’s stock.
Large investors have recently bought and sold shares of the company. Schwab Charles Investment Management Inc. lifted its position in WAVE Life Sciences by 6.2% in the third quarter. Schwab Charles Investment Management Inc. now owns 56,537 shares of the company’s stock valued at $1,230,000 after buying an additional 3,325 shares during the last quarter. JPMorgan Chase & Co. acquired a new stake in WAVE Life Sciences in the 3rd quarter worth about $2,634,000. Point72 Asset Management L.P. acquired a new stake in WAVE Life Sciences in the 3rd quarter worth about $13,679,000. Artal Group S.A. acquired a new stake in WAVE Life Sciences in the 4th quarter worth about $3,232,000. Finally, State of Wisconsin Investment Board acquired a new stake in WAVE Life Sciences in the 4th quarter worth about $316,000. 79.38% of the stock is owned by hedge funds and other institutional investors.
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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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