WAVE Life Sciences Ltd. (NASDAQ:WVE) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of WAVE Life Sciences Ltd. (NASDAQ:WVE) have earned a consensus rating of “Moderate Buy” from the fifteen ratings firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating and fourteen have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $26.4118.

A number of research firms have weighed in on WVE. HC Wainwright restated a “buy” rating on shares of WAVE Life Sciences in a research report on Thursday, June 11th. New Street Research set a $13.00 price target on WAVE Life Sciences in a research report on Thursday, June 11th. Wells Fargo & Company raised their price target on WAVE Life Sciences from $13.00 to $14.00 and gave the company an “overweight” rating in a research report on Wednesday, May 20th. Canaccord Genuity Group lowered their price target on WAVE Life Sciences from $52.00 to $43.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of WAVE Life Sciences in a research report on Monday, April 20th.

WAVE Life Sciences Stock Performance

Shares of WVE stock opened at $5.75 on Friday. WAVE Life Sciences has a 52-week low of $5.02 and a 52-week high of $21.73. The company has a market capitalization of $1.11 billion, a PE ratio of -5.42 and a beta of -1.33. The business’s fifty day moving average is $6.54 and its 200 day moving average is $10.93.

WAVE Life Sciences (NASDAQ:WVE) last issued its quarterly earnings data on Wednesday, April 29th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.21. WAVE Life Sciences had a negative return on equity of 56.76% and a negative net margin of 255.70%.The company had revenue of $38.25 million for the quarter, compared to the consensus estimate of $8.45 million. On average, sell-side analysts forecast that WAVE Life Sciences will post -1.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of WVE. GSK plc purchased a new position in shares of WAVE Life Sciences in the fourth quarter worth about $310,177,000. Darwin Global Management Ltd. purchased a new position in shares of WAVE Life Sciences in the fourth quarter worth about $125,168,000. Price T Rowe Associates Inc. MD increased its holdings in shares of WAVE Life Sciences by 83.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,407,372 shares of the company’s stock worth $125,927,000 after buying an additional 3,362,880 shares during the period. Adage Capital Partners GP L.L.C. increased its holdings in shares of WAVE Life Sciences by 20.0% in the second quarter. Adage Capital Partners GP L.L.C. now owns 15,016,500 shares of the company’s stock worth $97,607,000 after buying an additional 2,500,000 shares during the period. Finally, Primecap Management Co. CA increased its holdings in shares of WAVE Life Sciences by 115.7% in the fourth quarter. Primecap Management Co. CA now owns 4,095,282 shares of the company’s stock worth $69,620,000 after buying an additional 2,196,632 shares during the period. Hedge funds and other institutional investors own 89.73% of the company’s stock.

About WAVE Life Sciences

WAVE Life Sciences is a clinical-stage genetic medicines company focused on the discovery and development of stereopure oligonucleotide therapies designed to address serious diseases with high unmet medical need. Leveraging proprietary chemistry and precision synthesis, WAVE engineers drug candidates with defined stereochemistry to optimize potency, safety and manufacturability. This approach aims to enhance target specificity and improve therapeutic profiles compared with traditional oligonucleotide medicines.

The company’s pipeline includes programs in neuromuscular disorders such as Duchenne muscular dystrophy and neurodegenerative conditions including Huntington’s disease, as well as early-stage cardiovascular and liver indications.