WAVE Life Sciences Ltd. (WVE) Receives Average Rating of “Buy” from Brokerages
WAVE Life Sciences Ltd. (NASDAQ:WVE) has earned a consensus recommendation of “Buy” from the six research firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $42.33.
A number of research firms recently weighed in on WVE. HC Wainwright restated a “buy” rating on shares of WAVE Life Sciences in a research note on Monday, March 27th. Jefferies Group LLC set a $42.00 price target on WAVE Life Sciences and gave the company a “buy” rating in a research note on Thursday, June 8th. ValuEngine cut WAVE Life Sciences from a “hold” rating to a “sell” rating in a research note on Friday, June 16th. Finally, JMP Securities restated an “outperform” rating and issued a $40.00 price target on shares of WAVE Life Sciences in a research note on Friday, June 9th.
Hedge funds and other institutional investors have recently bought and sold shares of the company. American International Group Inc. boosted its position in WAVE Life Sciences by 7.1% in the first quarter. American International Group Inc. now owns 4,554 shares of the company’s stock valued at $125,000 after buying an additional 302 shares during the last quarter. EcoR1 Capital LLC purchased a new position in WAVE Life Sciences during the first quarter valued at $275,000. Deschutes Portfolio Strategy LLC boosted its position in WAVE Life Sciences by 2.9% in the first quarter. Deschutes Portfolio Strategy LLC now owns 10,628 shares of the company’s stock valued at $292,000 after buying an additional 297 shares during the last quarter. Vident Investment Advisory LLC purchased a new position in WAVE Life Sciences during the first quarter valued at $293,000. Finally, Strs Ohio boosted its position in WAVE Life Sciences by 86.7% in the first quarter. Strs Ohio now owns 11,200 shares of the company’s stock valued at $308,000 after buying an additional 5,200 shares during the last quarter. Hedge funds and other institutional investors own 56.84% of the company’s stock.
Shares of WAVE Life Sciences (WVE) traded down 5.24% during trading on Tuesday, reaching $16.73. 84,562 shares of the company were exchanged. The stock’s market capitalization is $463.57 million. WAVE Life Sciences has a one year low of $16.35 and a one year high of $40.15. The company has a 50 day moving average price of $20.59 and a 200-day moving average price of $25.18.
WAVE Life Sciences (NASDAQ:WVE) last posted its quarterly earnings results on Wednesday, May 10th. The company reported ($0.89) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.77) by $0.12. WAVE Life Sciences had a negative net margin of 3,172.14% and a negative return on equity of 48.16%. The business had revenue of $0.68 million during the quarter, compared to the consensus estimate of $0.80 million. Equities analysts predict that WAVE Life Sciences will post ($3.25) EPS for the current year.
WAVE Life Sciences Company Profile
WAVE Life Sciences Ltd. is a genetic medicines company. The Company, through its synthetic chemistry drug development platform, designs, develops and commercializes a pipeline of nucleic acid therapeutic candidates for genetically defined diseases. The Company is engaged in 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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