BidaskClub Upgrades Wave Life Sciences (WVE) to Buy

Wave Life Sciences (NASDAQ:WVE) was upgraded by BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Tuesday.

A number of other equities analysts have also weighed in on WVE. HC Wainwright set a $49.00 price objective on Wave Life Sciences and gave the stock a “buy” rating in a research note on Friday, August 10th. Mizuho set a $65.00 price objective on Wave Life Sciences and gave the stock a “buy” rating in a research note on Thursday, August 9th. Finally, Stifel Nicolaus began coverage on Wave Life Sciences in a research note on Monday, August 6th. They issued a “buy” rating and a $56.00 price target on the stock. One research analyst has rated the stock with a sell rating, six have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $58.40.

Shares of NASDAQ:WVE traded down $1.24 during trading on Tuesday, reaching $44.04. The stock had a trading volume of 5,702 shares, compared to its average volume of 82,603. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.11 and a quick ratio of 6.11. The firm has a market capitalization of $1.35 billion, a PE ratio of -11.44 and a beta of 1.10. Wave Life Sciences has a 1-year low of $21.60 and a 1-year high of $56.00.

Wave Life Sciences (NASDAQ:WVE) last issued its quarterly earnings results on Thursday, August 9th. The company reported ($1.23) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.35) by ($0.88). The firm had revenue of $4.88 million during the quarter, compared to analyst estimates of $7.38 million. Wave Life Sciences had a negative return on equity of 91.88% and a negative net margin of 1,473.26%. As a group, analysts expect that Wave Life Sciences will post -4.99 earnings per share for the current year.

In related news, CFO Keith Regnante sold 29,500 shares of the business’s stock in a transaction on Monday, September 24th. The stock was sold at an average price of $55.00, for a total value of $1,622,500.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Chandra Vargeese sold 3,000 shares of the business’s stock in a transaction on Monday, September 24th. The shares were sold at an average price of $55.00, for a total value of $165,000.00. The disclosure for this sale can be found here. Insiders sold a total of 44,075 shares of company stock worth $2,435,700 in the last quarter. Company insiders own 44.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of WVE. JPMorgan Chase & Co. boosted its holdings in Wave Life Sciences by 10.9% in the third quarter. JPMorgan Chase & Co. now owns 159,946 shares of the company’s stock worth $7,998,000 after purchasing an additional 15,679 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in Wave Life Sciences by 0.8% during the third quarter. Wells Fargo & Company MN now owns 363,536 shares of the company’s stock valued at $18,178,000 after acquiring an additional 2,903 shares during the period. Matisse Capital boosted its holdings in Wave Life Sciences by 13.7% during the third quarter. Matisse Capital now owns 42,319 shares of the company’s stock valued at $2,116,000 after acquiring an additional 5,085 shares during the period. Strs Ohio bought a new stake in Wave Life Sciences during the third quarter valued at about $140,000. Finally, Northern Trust Corp boosted its holdings in Wave Life Sciences by 44.1% during the second quarter. Northern Trust Corp now owns 221,545 shares of the company’s stock valued at $8,474,000 after acquiring an additional 67,774 shares during the period. Institutional investors own 83.43% of the company’s stock.

About Wave Life Sciences

Wave Life Sciences Ltd., a biotechnology company, designs, develops, and commercializes nucleic acid therapeutic candidates for genetically defined diseases by utilizing proprietary synthetic chemistry drug development 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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Analyst Recommendations for Wave Life Sciences (NASDAQ:WVE)

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