WAVE Life Sciences Ltd. (NASDAQ:WVE)‘s stock had its “outperform” rating reaffirmed by equities researchers at Leerink Swann in a note issued to investors on Wednesday, The Fly reports. They presently have a $53.00 price objective on the stock, up from their previous price objective of $42.00. Leerink Swann’s target price would indicate a potential upside of 114.14% from the stock’s previous close.

A number of other equities analysts have also recently commented on WVE. BidaskClub raised WAVE Life Sciences from a “sell” rating to a “hold” rating in a report on Tuesday. Mizuho set a $34.00 price target on WAVE Life Sciences and gave the stock a “buy” rating in a report on Friday, August 18th. Jefferies Group LLC reissued a “buy” rating and set a $40.00 price target (down previously from $42.00) on shares of WAVE Life Sciences in a report on Thursday, August 10th. Finally, Zacks Investment Research raised WAVE Life Sciences from a “sell” rating to a “hold” rating in a report on Thursday, October 12th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $41.60.

WAVE Life Sciences (NASDAQ WVE) traded down $0.10 during mid-day trading on Wednesday, reaching $24.75. The company’s stock had a trading volume of 146,300 shares, compared to its average volume of 97,742. The company has a quick ratio of 11.50, a current ratio of 11.50 and a debt-to-equity ratio of 0.01. WAVE Life Sciences has a 12-month low of $15.15 and a 12-month high of $40.15.

WAVE Life Sciences (NASDAQ:WVE) last posted its quarterly earnings results on Thursday, November 9th. The company reported ($0.94) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.97) by $0.03. The firm had revenue of $0.68 million during the quarter, compared to the consensus estimate of $0.77 million. WAVE Life Sciences had a negative return on equity of 59.52% and a negative net margin of 3,338.68%. research analysts predict that WAVE Life Sciences will post -3.8 earnings per share for the current fiscal year.

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In related news, Director Masaharu Tanaka sold 20,747 shares of the company’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $24.21, for a total transaction of $502,284.87. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 53.00% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the stock. Redmile Group LLC raised its stake in WAVE Life Sciences by 75.0% during the 2nd quarter. Redmile Group LLC now owns 2,224,407 shares of the company’s stock worth $41,374,000 after buying an additional 953,310 shares during the period. Point72 Asset Management L.P. acquired a new position in WAVE Life Sciences during the 3rd quarter worth approximately $13,679,000. Sabby Management LLC acquired a new position in WAVE Life Sciences during the 2nd quarter worth approximately $2,636,000. JPMorgan Chase & Co. acquired a new position in WAVE Life Sciences during the 3rd quarter worth approximately $2,634,000. Finally, Northern Trust Corp raised its stake in WAVE Life Sciences by 66.3% during the 2nd quarter. Northern Trust Corp now owns 165,794 shares of the company’s stock worth $3,085,000 after buying an additional 66,120 shares during the period. Institutional investors own 69.53% of the company’s stock.

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.

The Fly

Analyst Recommendations for WAVE Life Sciences (NASDAQ:WVE)

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