Wave Life Sciences (WVE) Upgraded by ValuEngine to Strong-Buy

Wave Life Sciences (NASDAQ:WVE) was upgraded by ValuEngine from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday.

Several other research firms have also recently issued reports on WVE. TheStreet cut shares of Wave Life Sciences from a “c-” rating to a “d+” rating in a research note on Thursday, May 31st. BidaskClub upgraded shares of Wave Life Sciences from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 7th. SunTrust Banks upped their target price on shares of Wave Life Sciences to $60.00 and gave the company a “buy” rating in a research note on Friday, March 9th. Leerink Swann restated an “outperform” rating on shares of Wave Life Sciences in a research note on Sunday, March 4th. Finally, Mizuho upped their target price on shares of Wave Life Sciences from $34.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, March 19th. One analyst has rated the stock with a sell rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Wave Life Sciences presently has a consensus rating of “Buy” and a consensus target price of $56.75.

Wave Life Sciences opened at $37.05 on Monday, according to MarketBeat. The company has a current ratio of 7.24, a quick ratio of 7.24 and a debt-to-equity ratio of 0.04. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of -9.44 and a beta of 0.71. Wave Life Sciences has a 52-week low of $15.15 and a 52-week high of $55.95.

Wave Life Sciences (NASDAQ:WVE) last posted its earnings results on Wednesday, May 9th. The company reported ($1.26) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.90) by ($0.36). The company had revenue of $1.42 million for the quarter, compared to the consensus estimate of $6.59 million. Wave Life Sciences had a negative net margin of 2,613.03% and a negative return on equity of 76.93%. analysts expect that Wave Life Sciences will post -4.78 EPS for the current year.

In other news, insider Chris Francis sold 48,992 shares of the company’s stock in a transaction dated Friday, June 1st. The shares were sold at an average price of $46.75, for a total transaction of $2,290,376.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul Bolno sold 31,711 shares of the company’s stock in a transaction dated Wednesday, May 30th. The shares were sold at an average price of $45.00, for a total transaction of $1,426,995.00. The disclosure for this sale can be found here. Insiders have sold a total of 98,992 shares of company stock valued at $4,540,376 in the last ninety days. Insiders own 44.20% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Barclays PLC increased its position in shares of Wave Life Sciences by 11.2% during the 1st quarter. Barclays PLC now owns 16,201 shares of the company’s stock valued at $650,000 after purchasing an additional 1,627 shares during the last quarter. UBS Group AG increased its position in shares of Wave Life Sciences by 26.0% during the 1st quarter. UBS Group AG now owns 8,356 shares of the company’s stock valued at $335,000 after purchasing an additional 1,723 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Wave Life Sciences during the 1st quarter valued at about $120,000. California Public Employees Retirement System purchased a new stake in shares of Wave Life Sciences during the 1st quarter valued at about $219,000. Finally, Goldman Sachs Group Inc. purchased a new stake in shares of Wave Life Sciences during the 4th quarter valued at about $222,000. 81.31% of the stock is owned by hedge funds and other institutional investors.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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