BidaskClub upgraded shares of Wave Life Sciences (NASDAQ:WVE) from a buy rating to a strong-buy rating in a research note published on Wednesday morning, BidAskClub reports.
A number of other brokerages also recently weighed in on WVE. HC Wainwright set a $33.00 price target on Wave Life Sciences and gave the stock a buy rating in a report on Wednesday, October 9th. Guggenheim began coverage on Wave Life Sciences in a research note on Friday, November 1st. They issued a buy rating and a $43.00 price objective on the stock. ValuEngine raised Wave Life Sciences from a buy rating to a strong-buy rating in a research note on Tuesday, October 29th. Mizuho began coverage on Wave Life Sciences in a research report on Thursday, November 21st. They set a buy rating and a $65.00 target price on the stock. Finally, Zacks Investment Research cut Wave Life Sciences from a buy rating to a hold rating in a research note on Saturday, October 19th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $45.00.
WVE opened at $32.34 on Wednesday. Wave Life Sciences has a twelve month low of $17.59 and a twelve month high of $50.98. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.26. The company has a fifty day moving average of $27.74 and a 200-day moving average of $24.26. The stock has a market cap of $1.11 billion, a PE ratio of -6.39 and a beta of 0.91.
Wave Life Sciences (NASDAQ:WVE) last announced its earnings results on Tuesday, November 5th. The company reported ($1.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.34) by ($0.14). The firm had revenue of $2.93 million for the quarter, compared to the consensus estimate 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%. Sell-side analysts anticipate that Wave Life Sciences will post -5.54 EPS for the current fiscal year.
In other news, Director Gregory L. Verdine sold 30,039 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $30.63, for a total transaction of $920,094.57. Following the transaction, the director now owns 36,009 shares of the company’s stock, valued at approximately $1,102,955.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Chandra Vargeese sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $32.34, for a total value of $194,040.00. Insiders own 39.70% of the company’s stock.
A number of hedge funds have recently bought and sold shares of WVE. California State Teachers Retirement System grew its stake in Wave Life Sciences by 1.2% in the third quarter. California State Teachers Retirement System now owns 35,089 shares of the company’s stock valued at $720,000 after acquiring an additional 419 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in shares of Wave Life Sciences by 18.7% in the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 3,614 shares of the company’s stock worth $94,000 after purchasing an additional 569 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Wave Life Sciences by 2.2% in the 3rd quarter. Rhumbline Advisers now owns 29,160 shares of the company’s stock worth $599,000 after purchasing an additional 618 shares in the last quarter. Swiss National Bank grew its position in 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 during the period. Finally, Point72 Asset Management L.P. grew its position in Wave Life Sciences by 3.4% in the 3rd quarter. Point72 Asset Management L.P. now owns 45,000 shares of the company’s stock valued at $924,000 after purchasing an additional 1,500 shares during the period. 90.00% of the stock is currently owned by institutional investors and hedge funds.
Wave Life Sciences Company Profile
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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