Wave Life Sciences (NASDAQ:WVE) Lifted to Buy at ValuEngine

ValuEngine upgraded shares of Wave Life Sciences (NASDAQ:WVE) from a hold rating to a buy rating in a report released on Wednesday, ValuEngine reports.

Other analysts have also issued research reports about the stock. HC Wainwright reissued a buy rating on shares of Wave Life Sciences in a research report on Wednesday, July 31st. BidaskClub lowered shares of Wave Life Sciences from a hold rating to a sell rating in a research report on Friday, September 27th. Zacks Investment Research lowered shares of Wave Life Sciences from a buy rating to a hold rating in a research report on Saturday, August 3rd. Cowen reaffirmed a hold rating on shares of Wave Life Sciences in a research report on Tuesday, July 30th. Finally, Mizuho reaffirmed a buy rating on shares of Wave Life Sciences in a research report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. Wave Life Sciences currently has an average rating of Hold and a consensus target price of $49.50.

Shares of WVE stock opened at $18.70 on Wednesday. The company’s fifty day simple moving average is $22.18 and its 200-day simple moving average is $26.45. The company has a quick ratio of 2.33, a current ratio of 2.33 and a debt-to-equity ratio of 0.19. The firm has a market cap of $641.06 million, a PE ratio of -3.70 and a beta of 0.75. Wave Life Sciences has a 12 month low of $17.59 and a 12 month high of $51.68.

Wave Life Sciences (NASDAQ:WVE) last announced its quarterly earnings data on Monday, July 29th. The company reported ($1.22) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.11) by ($0.11). The business had revenue of $7.63 million during the quarter, compared to the consensus estimate of $15.76 million. Wave Life Sciences had a negative return on equity of 120.41% and a negative net margin of 861.41%. On average, equities analysts predict that Wave Life Sciences will post -5.38 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Quantamental Technologies LLC bought a new position in shares of Wave Life Sciences in the second quarter valued at about $44,000. Aperio Group LLC purchased a new stake in shares of Wave Life Sciences during the second quarter valued at $51,000. Bank of Montreal Can boosted its position in shares of Wave Life Sciences by 590.5% during the second quarter. Bank of Montreal Can now owns 2,106 shares of the company’s stock valued at $55,000 after buying an additional 1,801 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of Wave Life Sciences by 18.7% during the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 3,614 shares of the company’s stock valued at $94,000 after buying an additional 569 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Wave Life Sciences during the first quarter valued at $140,000. 88.84% of the stock is currently owned by hedge funds and other institutional investors.

Wave Life Sciences Company Profile

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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