Brokerages Set Wave Life Sciences Ltd (WVE) Price Target at $41.75

Shares of Wave Life Sciences Ltd (NASDAQ:WVE) have been assigned an average recommendation of “Buy” from the eight ratings firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $41.75.

Several research firms have weighed in on WVE. Mizuho set a $34.00 target price on shares of Wave Life Sciences and gave the stock a “buy” rating in a report on Friday, August 18th. BidaskClub upgraded shares of Wave Life Sciences from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. Zacks Investment Research upgraded shares of Wave Life Sciences from a “sell” rating to a “hold” rating in a report on Thursday, October 12th. Finally, Leerink Swann reiterated an “outperform” rating and issued a $53.00 target price (up from $42.00) on shares of Wave Life Sciences in a report on Wednesday, November 15th.

In related news, Director Ra Capital Management, Llc acquired 423,398 shares of the stock in a transaction dated 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Chandra Vargeese sold 1,500 shares of the stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $35.00, for a total transaction of $52,500.00. The disclosure for this sale can be found here. Company insiders own 53.00% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Nationwide Fund Advisors increased its position in shares of Wave Life Sciences by 58.1% during the second quarter. Nationwide Fund Advisors now owns 6,720 shares of the company’s stock worth $125,000 after acquiring an additional 2,470 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Wave Life Sciences by 71.0% during the second quarter. The Manufacturers Life Insurance Company now owns 9,422 shares of the company’s stock worth $175,000 after acquiring an additional 3,912 shares in the last quarter. Strs Ohio increased its position in shares of Wave Life Sciences by 6.3% during the second quarter. Strs Ohio now owns 11,900 shares of the company’s stock worth $221,000 after acquiring an additional 700 shares in the last quarter. Rhumbline Advisers increased its position in shares of Wave Life Sciences by 62.3% during the second quarter. Rhumbline Advisers now owns 12,502 shares of the company’s stock worth $233,000 after acquiring an additional 4,800 shares in the last quarter. Finally, New York State Common Retirement Fund increased its position in shares of Wave Life Sciences by 64.9% during the second quarter. New York State Common Retirement Fund now owns 12,700 shares of the company’s stock worth $236,000 after acquiring an additional 4,999 shares in the last quarter. 73.74% of the stock is owned by institutional investors.

Shares of Wave Life Sciences (NASDAQ:WVE) traded up $2.05 during midday trading on Friday, reaching $38.85. 301,954 shares of the company traded hands, compared to its average volume of 112,818. Wave Life Sciences has a fifty-two week low of $15.15 and a fifty-two week high of $39.70. 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 earnings results on Thursday, November 9th. The company reported ($0.94) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.97) by $0.03. The company had revenue of $0.68 million for the quarter, compared to analyst estimates of $0.77 million. Wave Life Sciences had a negative net margin of 3,338.68% and a negative return on equity of 59.52%. research analysts predict that Wave Life Sciences will post -3.76 EPS for the current fiscal year.

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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.

Analyst Recommendations for Wave Life Sciences (NASDAQ:WVE)

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