WAVE Life Sciences Ltd. (NASDAQ:WVE) – Leerink Swann cut their FY2018 earnings per share (EPS) estimates for WAVE Life Sciences in a research note issued to investors on Wednesday. Leerink Swann analyst P. Matteis now expects that the company will earn ($4.52) per share for the year, down from their prior estimate of ($4.43). Leerink Swann has a “Outperform” rating and a $53.00 price objective on the stock. Leerink Swann also issued estimates for WAVE Life Sciences’ Q4 2018 earnings at ($1.11) EPS and FY2019 earnings at ($4.34) EPS.
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, beating analysts’ consensus estimates of ($0.97) by $0.03. WAVE Life Sciences had a negative return on equity of 59.52% and a negative net margin of 3,338.68%. The company had revenue of $0.68 million for the quarter, compared to the consensus estimate of $0.77 million.
A number of other research analysts also recently weighed in on WVE. BidaskClub raised WAVE Life Sciences from a “sell” rating to a “hold” rating in a report on Tuesday. Jefferies Group LLC reissued a “buy” rating and issued a $40.00 target price (down previously from $42.00) on shares of WAVE Life Sciences in a report on Thursday, August 10th. Mizuho set a $34.00 target price on WAVE Life Sciences and gave the company a “buy” rating in a report on Saturday, October 21st. Finally, Zacks Investment Research raised WAVE Life Sciences from a “sell” rating to a “hold” rating in a report on Thursday, October 12th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $41.60.
WAVE Life Sciences (NASDAQ:WVE) opened at $31.75 on Friday. WAVE Life Sciences has a 1-year low of $15.15 and a 1-year high of $40.15. The company has a quick ratio of 11.50, a current ratio of 11.50 and a debt-to-equity ratio of 0.01.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Redmile Group LLC raised its stake in shares of WAVE Life Sciences by 75.0% in the second quarter. Redmile Group LLC now owns 2,224,407 shares of the company’s stock worth $41,374,000 after buying an additional 953,310 shares during the period. Point72 Asset Management L.P. purchased a new stake in shares of WAVE Life Sciences during the third quarter worth about $13,679,000. Vanguard Group Inc. grew its position in shares of WAVE Life Sciences by 40.3% during the second quarter. Vanguard Group Inc. now owns 215,691 shares of the company’s stock worth $4,012,000 after purchasing an additional 61,910 shares in the last quarter. Northern Trust Corp grew its position in shares of WAVE Life Sciences by 66.3% during the second quarter. Northern Trust Corp now owns 165,794 shares of the company’s stock worth $3,085,000 after purchasing an additional 66,120 shares in the last quarter. Finally, State Street Corp grew its position in shares of WAVE Life Sciences by 26.6% during the second quarter. State Street Corp now owns 151,241 shares of the company’s stock worth $2,815,000 after purchasing an additional 31,743 shares in the last quarter. 69.53% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Masaharu Tanaka sold 20,747 shares of the firm’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $24.21, for a total value of $502,284.87. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ra Capital Management, Llc acquired 423,398 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The stock was bought at an average cost of $23.34 per share, for a total transaction of $9,882,109.32. The disclosure for this purchase can be found here. 53.00% of the stock is owned by company insiders.
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.
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