Shares of Wave Life Sciences Ltd (NASDAQ:WVE) have earned a consensus rating of “Buy” from the nine ratings firms that are currently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $17.67.
A number of equities analysts recently issued reports on WVE shares. BidaskClub raised shares of Wave Life Sciences from a “hold” rating to a “buy” rating in a research note on Friday, June 19th. Zacks Investment Research downgraded shares of Wave Life Sciences from a “buy” rating to a “hold” rating and set a $10.00 price target on the stock. in a research report on Saturday, June 13th. Finally, Mizuho restated a “buy” rating and set a $21.00 price objective on shares of Wave Life Sciences in a research report on Sunday, June 7th.
Large investors have recently modified their holdings of the business. Cubist Systematic Strategies LLC grew its stake in shares of Wave Life Sciences by 209.3% in the 4th quarter. Cubist Systematic Strategies LLC now owns 7,422 shares of the company’s stock worth $59,000 after buying an additional 5,022 shares in the last quarter. BNP Paribas Arbitrage SA grew its stake in shares of Wave Life Sciences by 163.4% in the 1st quarter. BNP Paribas Arbitrage SA now owns 6,989 shares of the company’s stock worth $65,000 after buying an additional 4,336 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Wave Life Sciences by 18.9% during the 1st quarter. Wells Fargo & Company MN now owns 15,120 shares of the company’s stock worth $142,000 after purchasing an additional 2,407 shares during the period. Amia Capital LLP purchased a new position in shares of Wave Life Sciences during the 4th quarter worth about $165,000. Finally, California Public Employees Retirement System purchased a new position in shares of Wave Life Sciences during the 4th quarter worth about $309,000. 86.22% of the stock is owned by institutional investors and hedge funds.
Wave Life Sciences (NASDAQ:WVE) last announced its earnings results on Monday, May 11th. The company reported ($1.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.34) by ($0.04). Wave Life Sciences had a negative return on equity of 219.06% and a negative net margin of 1,150.43%. The company had revenue of $4.16 million during the quarter, compared to analysts’ expectations of $7.26 million. As a group, research analysts anticipate that Wave Life Sciences will post -3.67 EPS for the current fiscal year.
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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