Wave Life Sciences (WVE) Announces Earnings Results
Wave Life Sciences (NASDAQ:WVE) released its quarterly earnings data on Friday. The company reported ($1.28) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.26) by ($0.02), MarketWatch Earnings reports. The business had revenue of $4.49 million during the quarter, compared to analyst estimates of $5.36 million. Wave Life Sciences had a negative net margin of 1,473.26% and a negative return on equity of 91.88%.
Shares of Wave Life Sciences stock traded down $2.07 during mid-day trading on Friday, hitting $43.16. The stock had a trading volume of 56,859 shares, compared to its average volume of 77,911. Wave Life Sciences has a 12-month low of $21.85 and a 12-month high of $56.00. 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 stock has a market cap of $1.33 billion, a price-to-earnings ratio of -11.21 and a beta of 1.10.
A number of research firms have commented on WVE. BidaskClub downgraded shares of Wave Life Sciences from a “strong-buy” rating to a “buy” rating in a report on Friday, September 28th. HC Wainwright set a $49.00 price objective on shares of Wave Life Sciences and gave the company a “buy” rating in a report on Friday, August 10th. Mizuho set a $65.00 price objective on shares of Wave Life Sciences and gave the company a “buy” rating in a report on Thursday, August 9th. Finally, Stifel Nicolaus began coverage on shares of Wave Life Sciences in a report on Monday, August 6th. They issued a “buy” rating and a $56.00 price objective for the company. One investment analyst has rated the stock with a sell rating, six have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $58.40.
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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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