Brokerages Anticipate WAVE Life Sciences Ltd. (WVE) Will Post Quarterly Sales of $770,000.00
Equities analysts predict that WAVE Life Sciences Ltd. (NASDAQ:WVE) will announce $770,000.00 in sales for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for WAVE Life Sciences’ earnings. The highest sales estimate is $1.20 million and the lowest is $500,000.00. WAVE Life Sciences reported sales of $390,000.00 during the same quarter last year, which would indicate a positive year over year growth rate of 97.4%. The company is expected to issue its next earnings results on Wednesday, November 8th.
According to Zacks, analysts expect that WAVE Life Sciences will report full-year sales of $770,000.00 for the current financial year, with estimates ranging from $2.40 million to $3.90 million. For the next financial year, analysts expect that the firm will report sales of $5.28 million per share, with estimates ranging from $2.40 million to $8.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover WAVE Life Sciences.
WAVE Life Sciences (NASDAQ:WVE) last released its earnings results on Wednesday, August 9th. The company reported ($0.92) EPS for the quarter, missing analysts’ consensus estimates of ($0.78) by ($0.14). The company had revenue of $0.68 million for the quarter, compared to analysts’ expectations of $0.73 million. WAVE Life Sciences had a negative return on equity of 55.19% and a negative net margin of 3,375.12%.
A number of equities analysts have issued reports on the stock. Zacks Investment Research cut shares of WAVE Life Sciences from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. ValuEngine downgraded shares of WAVE Life Sciences from a “hold” rating to a “sell” rating in a report on Friday, June 16th. Jefferies Group LLC restated a “buy” rating and issued a $40.00 target price (down from $42.00) on shares of WAVE Life Sciences in a report on Thursday, August 10th. BidaskClub upgraded shares of WAVE Life Sciences from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. Finally, Mizuho set a $34.00 target price on shares of WAVE Life Sciences and gave the company a “buy” rating in a report on Friday, August 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $40.00.
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In other WAVE Life Sciences news, Director Masaharu Tanaka sold 20,747 shares of WAVE Life Sciences stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $24.21, for a total transaction of $502,284.87. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 53.00% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of WVE. Redmile Group LLC raised its holdings in WAVE Life Sciences by 75.0% in the second quarter. Redmile Group LLC now owns 2,224,407 shares of the company’s stock valued at $41,374,000 after acquiring an additional 953,310 shares in the last quarter. Clough Capital Partners L P raised its holdings in WAVE Life Sciences by 93.3% in the first quarter. Clough Capital Partners L P now owns 408,006 shares of the company’s stock valued at $10,935,000 after acquiring an additional 196,903 shares in the last quarter. Sabby Management LLC acquired a new stake in WAVE Life Sciences in the second quarter valued at $2,636,000. Northern Trust Corp raised its holdings in WAVE Life Sciences by 66.3% in the second quarter. Northern Trust Corp now owns 165,794 shares of the company’s stock valued at $3,085,000 after acquiring an additional 66,120 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in WAVE Life Sciences by 40.3% in the second quarter. Vanguard Group Inc. now owns 215,691 shares of the company’s stock valued at $4,012,000 after acquiring an additional 61,910 shares in the last quarter. 69.58% of the stock is currently owned by institutional investors and hedge funds.
About WAVE Life Sciences
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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