Wave Life Sciences Ltd (NASDAQ:WVE) Expected to Post Quarterly Sales of $5.90 Million

Equities research analysts predict that Wave Life Sciences Ltd (NASDAQ:WVE) will report $5.90 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Wave Life Sciences’ earnings, with the highest sales estimate coming in at $9.50 million and the lowest estimate coming in at $3.00 million. Wave Life Sciences reported sales of $4.49 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 31.4%. The business is expected to issue its next earnings results on Friday, November 8th.

According to Zacks, analysts expect that Wave Life Sciences will report full year sales of $24.16 million for the current year, with estimates ranging from $16.69 million to $31.70 million. For the next fiscal year, analysts forecast that the business will post sales of $67.78 million, with estimates ranging from $13.88 million to $150.00 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Wave Life Sciences.

Wave Life Sciences (NASDAQ:WVE) last released its quarterly earnings data on Monday, July 29th. The company reported ($1.22) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.11) by ($0.11). The business had revenue of $7.63 million for the quarter, compared to the consensus estimate of $15.76 million. Wave Life Sciences had a negative net margin of 861.41% and a negative return on equity of 120.41%.

WVE has been the subject of several research analyst reports. SunTrust Banks decreased their price objective on Wave Life Sciences to $39.00 and set a “buy” rating for the company in a report on Monday, May 20th. Mizuho reaffirmed a “buy” rating and set a $65.00 price target on shares of Wave Life Sciences in a research note on Monday, July 22nd. ValuEngine raised Wave Life Sciences from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. HC Wainwright reaffirmed a “buy” rating on shares of Wave Life Sciences in a research note on Wednesday, July 31st. Finally, Cowen reaffirmed a “hold” rating on shares of Wave Life Sciences in a research note on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $49.50.

In related news, insider Michael A. Panzara sold 3,058 shares of Wave Life Sciences stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $26.94, for a total value of $82,382.52. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 39.70% of the company’s stock.

Several large investors have recently bought and sold shares of WVE. Quantamental Technologies LLC purchased a new stake in shares of Wave Life Sciences during the second quarter valued at approximately $44,000. Aperio Group LLC purchased a new position in shares of Wave Life Sciences during the 2nd quarter worth about $51,000. Bank of Montreal Can boosted its stake in shares of Wave Life Sciences by 590.5% during the 2nd quarter. Bank of Montreal Can now owns 2,106 shares of the company’s stock worth $55,000 after purchasing an additional 1,801 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of Wave Life Sciences by 18.7% during the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 3,614 shares of the company’s stock worth $94,000 after purchasing an additional 569 shares during the period. Finally, Amundi Pioneer Asset Management Inc. boosted its stake in shares of Wave Life Sciences by 45.0% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 2,900 shares of the company’s stock worth $122,000 after purchasing an additional 900 shares during the period. 86.28% of the stock is currently owned by institutional investors.

NASDAQ WVE traded up $1.01 on Friday, hitting $21.35. The company had a trading volume of 169,140 shares, compared to its average volume of 383,396. The company has a market capitalization of $731.90 million, a PE ratio of -4.22 and a beta of 0.81. The company’s fifty day moving average price is $23.24 and its 200-day moving average price is $30.64. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.33 and a quick ratio of 2.33. Wave Life Sciences has a 12-month low of $18.16 and a 12-month high of $56.00.

About Wave Life Sciences

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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