HC Wainwright Analysts Give Wave Life Sciences (NASDAQ:WVE) a $33.00 Price Target

HC Wainwright set a $33.00 price objective on Wave Life Sciences (NASDAQ:WVE) in a report published on Wednesday morning, TipRanks reports. The firm currently has a buy rating on the stock.

A number of other analysts also recently issued reports on the stock. BidaskClub downgraded shares of Wave Life Sciences from a hold rating to a sell rating in a report on Friday, September 27th. Mizuho restated a buy rating on shares of Wave Life Sciences in a report on Wednesday, September 25th. ValuEngine upgraded shares of Wave Life Sciences from a hold rating to a buy rating in a report on Wednesday, October 2nd. Zacks Investment Research downgraded shares of Wave Life Sciences from a buy rating to a hold rating in a report on Saturday, August 3rd. Finally, Cowen restated a hold rating on shares of Wave Life Sciences in a report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $49.50.

Shares of NASDAQ WVE opened at $20.08 on Wednesday. The company has a 50 day simple moving average of $21.82 and a 200-day simple moving average of $25.56. The company has a market capitalization of $688.36 million, a P/E ratio of -3.97 and a beta of 0.75. 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 1 year low of $17.59 and a 1 year high of $51.68.

Wave Life Sciences (NASDAQ:WVE) last announced its quarterly earnings results on Monday, July 29th. The company reported ($1.22) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.11) by ($0.11). The firm had revenue of $7.63 million for the quarter, compared to analyst estimates of $15.76 million. Wave Life Sciences had a negative return on equity of 120.41% and a negative net margin of 861.41%. As a group, research analysts expect that Wave Life Sciences will post -5.38 EPS for the current year.

A number of institutional investors have recently bought and sold shares of WVE. Quantamental Technologies LLC acquired a new stake in Wave Life Sciences in the 2nd quarter valued at approximately $44,000. Aperio Group LLC acquired a new stake in Wave Life Sciences in the 2nd quarter valued at approximately $51,000. Bank of Montreal Can increased its holdings in Wave Life Sciences by 590.5% in the 2nd quarter. Bank of Montreal Can now owns 2,106 shares of the company’s stock valued at $55,000 after purchasing an additional 1,801 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in Wave Life Sciences by 18.7% in the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 3,614 shares of the company’s stock valued at $94,000 after purchasing an additional 569 shares during the last quarter. Finally, Virtus ETF Advisers LLC increased its holdings in Wave Life Sciences by 93.3% in the 2nd quarter. Virtus ETF Advisers LLC now owns 10,387 shares of the company’s stock valued at $271,000 after purchasing an additional 5,014 shares during the last quarter. Hedge funds and other institutional investors own 88.84% of the company’s stock.

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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Analyst Recommendations for Wave Life Sciences (NASDAQ:WVE)

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