Wall Street brokerages expect that Wave Life Sciences Ltd (NASDAQ:WVE) will report ($1.48) earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Wave Life Sciences’ earnings, with estimates ranging from ($1.81) to ($1.11). Wave Life Sciences posted earnings of ($1.29) per share in the same quarter last year, which would indicate a negative year over year growth rate of 14.7%. The business is scheduled to announce its next earnings results on Friday, March 6th.
According to Zacks, analysts expect that Wave Life Sciences will report full year earnings of ($5.54) per share for the current year, with EPS estimates ranging from ($5.87) to ($5.17). For the next financial year, analysts expect that the firm will post earnings of ($4.44) per share, with EPS estimates ranging from ($5.90) to ($3.32). Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that follow Wave Life Sciences.
Wave Life Sciences (NASDAQ:WVE) last issued its quarterly earnings data on Tuesday, November 5th. The company reported ($1.48) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.34) by ($0.14). The firm had revenue of $2.93 million during the quarter, compared to analyst estimates of $6.30 million. Wave Life Sciences had a negative return on equity of 128.21% and a negative net margin of 1,015.84%.
Several research analysts recently commented on the stock. Guggenheim began coverage on shares of Wave Life Sciences in a report on Friday, November 1st. They issued a “buy” rating and a $43.00 target price on the stock. Mizuho assumed coverage on Wave Life Sciences in a research report on Thursday, November 21st. They issued a “buy” rating and a $65.00 price target on the stock. ValuEngine upgraded Wave Life Sciences from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. BidaskClub upgraded Wave Life Sciences from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Finally, HC Wainwright set a $33.00 price objective on Wave Life Sciences and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $45.00.
NASDAQ:WVE opened at $34.23 on Friday. Wave Life Sciences has a 1 year low of $17.59 and a 1 year high of $50.98. The firm’s fifty day simple moving average is $26.70 and its 200 day simple moving average is $24.12. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.26.
In related news, Director Gregory L. Verdine sold 30,039 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $30.63, for a total transaction of $920,094.57. Following the completion of the transaction, the director now directly owns 36,009 shares in the company, valued at approximately $1,102,955.67. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 39.70% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Janus Henderson Group PLC lifted its position in shares of Wave Life Sciences by 16.1% in the 2nd quarter. Janus Henderson Group PLC now owns 3,392,298 shares of the company’s stock worth $88,505,000 after acquiring an additional 470,402 shares during the period. Athanor Capital LP acquired a new stake in shares of Wave Life Sciences in the 2nd quarter valued at $566,000. Swiss National Bank boosted its stake in shares of Wave Life Sciences by 2.4% in the 2nd quarter. Swiss National Bank now owns 34,200 shares of the company’s stock valued at $892,000 after purchasing an additional 800 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Wave Life Sciences by 8.7% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 115,769 shares of the company’s stock worth $3,021,000 after purchasing an additional 9,273 shares during the last quarter. Finally, Virtus ETF Advisers LLC grew its holdings in shares of Wave Life Sciences by 93.3% in the 2nd quarter. Virtus ETF Advisers LLC now owns 10,387 shares of the company’s stock worth $271,000 after purchasing an additional 5,014 shares during the last quarter. Hedge funds and other institutional investors own 90.00% of the company’s stock.
About Wave Life Sciences
Wave Life Sciences Ltd., a clinical stage genetic medicine company, designs, optimizes, and produces of novel stereopure oligonucleotides through PRISM, a discovery and drug developing 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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