Wave Life Sciences Ltd (NASDAQ:WVE) Given Average Rating of “Hold” by Brokerages

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Wave Life Sciences Ltd (NASDAQ:WVE) has earned a consensus rating of “Hold” from the eight ratings firms that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $49.50.

WVE has been the subject of a number of recent research reports. Mizuho set a $65.00 price target on Wave Life Sciences and gave the company a “buy” rating in a research note on Saturday, June 29th. ValuEngine downgraded Wave Life Sciences from a “buy” rating to a “hold” rating in a research note on Tuesday, April 16th. SunTrust Banks boosted their price target on Perrigo to $51.00 and gave the company a “hold” rating in a research note on Monday, May 20th. HC Wainwright downgraded Hydrogenics from a “buy” rating to a “neutral” rating in a research note on Friday, June 28th. Finally, BidaskClub downgraded Weyco Group from a “sell” rating to a “strong sell” rating in a research note on Saturday.

NASDAQ WVE traded up $0.19 during trading hours on Friday, hitting $26.23. The company’s stock had a trading volume of 257,756 shares, compared to its average volume of 262,090. Wave Life Sciences has a 12 month low of $22.25 and a 12 month high of $56.00. The stock has a 50 day moving average price of $25.42. The company has a market capitalization of $892.25 million, a P/E ratio of -5.18 and a beta of 0.83. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.39 and a current ratio of 2.39.

Wave Life Sciences (NASDAQ:WVE) last released its quarterly earnings data on Friday, May 10th. The company reported ($1.36) EPS for the quarter, missing the consensus estimate of ($1.19) by ($0.17). Wave Life Sciences had a negative return on equity of 120.60% and a negative net margin of 971.48%. The business had revenue of $3.03 million during the quarter, compared to the consensus estimate of $9.66 million. On average, equities analysts predict that Wave Life Sciences will post -4.23 EPS for the current year.

In other Wave Life Sciences news, insider Michael A. Panzara sold 3,058 shares of the business’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $26.94, for a total transaction of $82,382.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 39.70% of the company’s stock.

Several large investors have recently made changes to their positions in WVE. Janus Henderson Group PLC grew its stake in shares of Wave Life Sciences by 78.0% during the 1st quarter. Janus Henderson Group PLC now owns 2,921,896 shares of the company’s stock valued at $113,516,000 after acquiring an additional 1,280,702 shares during the period. Redmile Group LLC grew its stake in shares of Wave Life Sciences by 26.5% during the 1st quarter. Redmile Group LLC now owns 2,831,507 shares of the company’s stock valued at $110,004,000 after acquiring an additional 593,900 shares during the period. BlackRock Inc. grew its stake in shares of Wave Life Sciences by 27.8% during the 4th quarter. BlackRock Inc. now owns 1,552,595 shares of the company’s stock valued at $65,273,000 after acquiring an additional 337,752 shares during the period. Marshall Wace North America L.P. bought a new position in shares of Wave Life Sciences during the 1st quarter valued at approximately $8,560,000. Finally, Spark Investment Management LLC grew its stake in shares of Wave Life Sciences by 64.9% during the 1st quarter. Spark Investment Management LLC now owns 270,100 shares of the company’s stock valued at $10,493,000 after acquiring an additional 106,300 shares during the period. Institutional investors own 85.62% of the company’s stock.

About Wave Life Sciences

Wave Life Sciences Ltd., a clinical stage genetic medicine company, designs, optimizes, and produces of novel stereopure oligonucleotides through PRISM, a discovery and drug developing 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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Analyst Recommendations for Wave Life Sciences (NASDAQ:WVE)

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