Wave Life Sciences Ltd. (NASDAQ:WVE) Receives Consensus Rating of “Moderate Buy” from Analysts

Wave Life Sciences Ltd. (NASDAQ:WVE) has been assigned an average recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $13.17.

A number of research firms have issued reports on WVE. HC Wainwright reissued a “buy” rating and set a $15.00 target price on shares of Wave Life Sciences in a research note on Wednesday, June 26th. StockNews.com lowered Wave Life Sciences from a “buy” rating to a “hold” rating in a report on Friday, May 10th. Mizuho reiterated an “outperform” rating and set a $19.00 price target on shares of Wave Life Sciences in a research report on Tuesday, June 25th. Finally, Wells Fargo & Company began coverage on Wave Life Sciences in a report on Wednesday, May 15th. They set an “overweight” rating and a $11.00 price target on the stock.

Institutional Investors Weigh In On Wave Life Sciences

Institutional investors and hedge funds have recently bought and sold shares of the business. Arizona State Retirement System bought a new stake in shares of Wave Life Sciences in the 4th quarter worth approximately $91,000. Strs Ohio bought a new stake in shares of Wave Life Sciences during the 4th quarter worth $382,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Wave Life Sciences by 1,512.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,250 shares of the company’s stock worth $163,000 after acquiring an additional 30,250 shares during the last quarter. a16z Perennial Management L.P. acquired a new stake in shares of Wave Life Sciences during the fourth quarter worth $392,000. Finally, Swiss National Bank purchased a new stake in shares of Wave Life Sciences during the fourth quarter valued at $770,000. 89.73% of the stock is owned by institutional investors and hedge funds.

Wave Life Sciences Stock Performance

Shares of WVE stock opened at $5.83 on Thursday. The stock has a market capitalization of $714.03 million, a price-to-earnings ratio of -11.21 and a beta of -1.12. Wave Life Sciences has a one year low of $3.50 and a one year high of $7.67. The company’s 50-day simple moving average is $5.75 and its 200-day simple moving average is $5.58.

Wave Life Sciences (NASDAQ:WVE) last released its earnings results on Thursday, August 8th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.09). Wave Life Sciences had a negative return on equity of 1,395.99% and a negative net margin of 66.50%. The firm had revenue of $19.69 million for the quarter, compared to the consensus estimate of $24.80 million. During the same period in the prior year, the business earned ($0.20) EPS. As a group, research analysts forecast that Wave Life Sciences will post -1.05 EPS for the current year.

About Wave Life Sciences

Wave Life Sciences Ltd., a clinical-stage biotechnology company, designs, develops, and commercializes ribonucleic acid (RNA) medicines through PRISM, a discovery and drug development platform. The company's RNA medicines platform, PRISM, combines multiple modalities, chemistry innovation, and deep insights into human genetics to deliver scientific breakthroughs that treat both rare and prevalent disorders.