Wave Life Sciences (WVE) PT Set at $65.00 by Mizuho
Wave Life Sciences (NASDAQ:WVE) has been given a $65.00 price target by investment analysts at Mizuho in a research report issued on Thursday. The brokerage currently has a “buy” rating on the stock. Mizuho’s price objective suggests a potential upside of 37.68% from the company’s previous close.
Several other brokerages have also weighed in on WVE. BidaskClub lowered Wave Life Sciences from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 28th. HC Wainwright set a $49.00 target price on Wave Life Sciences and gave the stock a “buy” rating in a research report on Monday, November 12th. Finally, Leerink Swann assumed coverage on Wave Life Sciences in a research report on Tuesday, November 27th. They issued an “outperform” rating and a $61.00 target price on the stock. One analyst has rated the stock with a sell rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $58.20.
Shares of Wave Life Sciences stock opened at $47.21 on Thursday. Wave Life Sciences has a fifty-two week low of $31.65 and a fifty-two week high of $56.00. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of -12.26 and a beta of 1.09. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.85 and a current ratio of 1.85.
In related news, Director Gregory L. Verdine sold 15,000 shares of the stock in a transaction on Wednesday, November 14th. The stock was sold at an average price of $38.86, for a total value of $582,900.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Chandra Vargeese sold 3,000 shares of the stock in a transaction on Monday, September 24th. The stock was sold at an average price of $55.00, for a total value of $165,000.00. The disclosure for this sale can be found here. Insiders sold a total of 59,075 shares of company stock worth $3,018,600 over the last ninety days. Corporate insiders own 44.20% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Wave Life Sciences by 5.7% in the third quarter. Vanguard Group Inc. now owns 309,765 shares of the company’s stock valued at $15,488,000 after purchasing an additional 16,794 shares during the period. Teachers Advisors LLC raised its position in Wave Life Sciences by 22.2% in the third quarter. Teachers Advisors LLC now owns 35,497 shares of the company’s stock valued at $1,775,000 after purchasing an additional 6,453 shares during the period. AQR Capital Management LLC raised its position in Wave Life Sciences by 27.1% in the third quarter. AQR Capital Management LLC now owns 13,828 shares of the company’s stock valued at $691,000 after purchasing an additional 2,946 shares during the period. Putnam Investments LLC purchased a new position in Wave Life Sciences in the third quarter valued at about $207,000. Finally, Point72 Asset Management L.P. raised its position in Wave Life Sciences by 14.3% in the third quarter. Point72 Asset Management L.P. now owns 400,000 shares of the company’s stock valued at $20,000,000 after purchasing an additional 50,000 shares during the period. 80.78% of the stock is currently owned by institutional investors.
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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