Wave Life Sciences (NASDAQ:WVE) Posts Quarterly Earnings Results, Beats Expectations By $0.35 EPS

Wave Life Sciences (NASDAQ:WVE) released its quarterly earnings data on Tuesday. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.35, Zacks reports. Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 280.57%.

Wave Life Sciences Stock Performance

Shares of NASDAQ:WVE opened at $10.76 on Tuesday. Wave Life Sciences has a one year low of $4.25 and a one year high of $16.74. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of -9.69 and a beta of -1.09. The company has a 50-day simple moving average of $11.68 and a 200-day simple moving average of $11.15.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Jefferies Financial Group began coverage on Wave Life Sciences in a research note on Tuesday, February 25th. They set a “buy” rating and a $26.00 target price for the company. HC Wainwright reiterated a “buy” rating and set a $22.00 price target on shares of Wave Life Sciences in a research report on Wednesday, November 13th. StockNews.com upgraded shares of Wave Life Sciences from a “sell” rating to a “hold” rating in a research report on Thursday, February 27th. Mizuho lifted their target price on shares of Wave Life Sciences from $19.00 to $22.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Finally, B. Riley lifted their price objective on Wave Life Sciences from $19.00 to $22.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $22.60.

About Wave Life Sciences

Wave Life Sciences Ltd., a clinical-stage biotechnology company, designs, develops, and commercializes ribonucleic acid (RNA) medicines through PRISM, a discovery and drug development platform. The company's RNA medicines platform, PRISM, combines multiple modalities, chemistry innovation, and deep insights into human genetics to deliver scientific breakthroughs that treat both rare and prevalent disorders.