Leerink Swann Brokers Lower Earnings Estimates for WAVE Life Sciences Ltd. (WVE)

WAVE Life Sciences Ltd. (NASDAQ:WVE) – Stock analysts at Leerink Swann dropped their FY2018 earnings estimates for shares of WAVE Life Sciences in a research note issued on Wednesday. Leerink Swann analyst P. Matteis now anticipates that the company will earn ($4.52) per share for the year, down from their prior forecast of ($4.43). Leerink Swann has a “Outperform” rating and a $53.00 price target on the stock. Leerink Swann also issued estimates for WAVE Life Sciences’ Q4 2018 earnings at ($1.11) EPS and FY2019 earnings at ($4.34) EPS.

Other analysts have also issued research reports about the stock. Mizuho set a $34.00 price objective on shares of WAVE Life Sciences and gave the company a “buy” rating in a research note on Friday, August 18th. Jefferies Group LLC reiterated a “buy” rating and set a $40.00 price objective (down previously from $42.00) on shares of WAVE Life Sciences in a research note on Thursday, August 10th. Zacks Investment Research upgraded shares of WAVE Life Sciences from a “sell” rating to a “hold” rating in a research note on Thursday, October 12th. Finally, BidaskClub upgraded shares of WAVE Life Sciences from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. WAVE Life Sciences currently has a consensus rating of “Buy” and an average price target of $41.60.

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Shares of WAVE Life Sciences (NASDAQ:WVE) opened at $31.75 on Friday. WAVE Life Sciences has a 12 month low of $15.15 and a 12 month high of $40.15. The company has a current ratio of 11.50, a quick ratio of 11.50 and a debt-to-equity ratio of 0.01.

WAVE Life Sciences (NASDAQ:WVE) last posted its quarterly earnings results on Thursday, November 9th. The company reported ($0.94) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.97) by $0.03. WAVE Life Sciences had a negative net margin of 3,338.68% and a negative return on equity of 59.52%. The firm had revenue of $0.68 million for the quarter, compared to analyst estimates of $0.77 million.

In related news, Director Masaharu Tanaka sold 20,747 shares of WAVE Life Sciences stock in a transaction on Monday, September 18th. The shares were sold at an average price of $24.21, for a total value of $502,284.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ra Capital Management, Llc purchased 423,398 shares of the company’s stock in a transaction that occurred on Tuesday, November 14th. The stock was bought at an average price of $23.34 per share, with a total value of $9,882,109.32. The disclosure for this purchase can be found here. Company insiders own 53.00% of the company’s stock.

Large investors have recently modified their holdings of the stock. American International Group Inc. increased its stake in shares of WAVE Life Sciences by 7.1% in the first quarter. American International Group Inc. now owns 4,554 shares of the company’s stock worth $125,000 after buying an additional 302 shares during the last quarter. Nationwide Fund Advisors increased its stake in shares of WAVE Life Sciences by 58.1% in the second quarter. Nationwide Fund Advisors now owns 6,720 shares of the company’s stock worth $125,000 after buying an additional 2,470 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of WAVE Life Sciences by 71.0% in the second quarter. The Manufacturers Life Insurance Company now owns 9,422 shares of the company’s stock worth $175,000 after buying an additional 3,912 shares during the last quarter. Strs Ohio increased its stake in shares of WAVE Life Sciences by 6.3% in the second quarter. Strs Ohio now owns 11,900 shares of the company’s stock worth $221,000 after buying an additional 700 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in shares of WAVE Life Sciences by 62.3% in the second quarter. Rhumbline Advisers now owns 12,502 shares of the company’s stock worth $233,000 after buying an additional 4,800 shares during the last quarter. Institutional investors and hedge funds own 69.53% of the company’s stock.

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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