Analysts Set Wave Life Sciences Ltd. (NASDAQ:WVE) Price Target at $19.44

Wave Life Sciences Ltd. (NASDAQ:WVE) has earned a consensus recommendation of “Buy” from the ten ratings firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $19.44.

A number of equities research analysts have issued reports on WVE shares. Leerink Partners increased their target price on shares of Wave Life Sciences from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. B. Riley increased their price objective on Wave Life Sciences from $11.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. HC Wainwright restated a “buy” rating and issued a $22.00 target price on shares of Wave Life Sciences in a research note on Thursday. Royal Bank of Canada raised their price target on Wave Life Sciences from $7.00 to $15.00 and gave the stock a “sector perform” rating in a research note on Monday, October 21st. Finally, JPMorgan Chase & Co. lifted their price target on Wave Life Sciences from $13.00 to $17.00 and gave the company an “overweight” rating in a report on Thursday, October 17th.

Insider Activity

In other Wave Life Sciences news, CEO Paul Bolno sold 48,366 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $5.78, for a total value of $279,555.48. Following the completion of the sale, the chief executive officer now owns 359,059 shares in the company, valued at approximately $2,075,361.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Chris Francis sold 208,836 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $13.67, for a total value of $2,854,788.12. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Paul Bolno sold 48,366 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $5.78, for a total transaction of $279,555.48. Following the transaction, the chief executive officer now owns 359,059 shares of the company’s stock, valued at approximately $2,075,361.02. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 364,822 shares of company stock valued at $4,645,768. Insiders own 29.10% of the company’s stock.

Institutional Investors Weigh In On Wave Life Sciences

Several institutional investors and hedge funds have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Wave Life Sciences by 23.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,512 shares of the company’s stock worth $37,000 after acquiring an additional 856 shares in the last quarter. Ameritas Investment Partners Inc. boosted its stake in Wave Life Sciences by 50.2% in the first quarter. Ameritas Investment Partners Inc. now owns 7,334 shares of the company’s stock worth $45,000 after purchasing an additional 2,451 shares in the last quarter. Profund Advisors LLC acquired a new position in Wave Life Sciences in the second quarter worth $53,000. Principal Financial Group Inc. bought a new stake in shares of Wave Life Sciences during the second quarter worth $74,000. Finally, Mackenzie Financial Corp increased its stake in shares of Wave Life Sciences by 13.6% in the second quarter. Mackenzie Financial Corp now owns 15,887 shares of the company’s stock valued at $79,000 after buying an additional 1,905 shares in the last quarter. Institutional investors and hedge funds own 89.73% of the company’s stock.

Wave Life Sciences Trading Down 4.3 %

NASDAQ WVE opened at $13.71 on Tuesday. Wave Life Sciences has a 1 year low of $3.50 and a 1 year high of $15.92. The company has a market cap of $1.68 billion, a PE ratio of -26.17 and a beta of -1.10. The stock’s 50-day moving average price is $8.55 and its two-hundred day moving average price is $6.72.

Wave Life Sciences (NASDAQ:WVE) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.09). The firm had revenue of $19.69 million for the quarter, compared to analysts’ expectations of $24.80 million. Wave Life Sciences had a negative return on equity of 1,395.99% and a negative net margin of 66.50%. During the same quarter in the previous year, the firm posted ($0.20) earnings per share. Research analysts forecast that Wave Life Sciences will post -1.01 EPS for the current fiscal year.

Wave Life Sciences Company Profile

Wave Life Sciences Ltd., a clinical-stage biotechnology company, designs, develops, and commercializes ribonucleic acid (RNA) medicines through PRISM, a discovery and drug development platform. The company's RNA medicines platform, PRISM, combines multiple modalities, chemistry innovation, and deep insights into human genetics to deliver scientific breakthroughs that treat both rare and prevalent disorders.