Leerink Partnrs Issues Optimistic Estimate for WVE Earnings

Wave Life Sciences Ltd. (NASDAQ:WVE) – Equities research analysts at Leerink Partnrs raised their FY2024 EPS estimates for Wave Life Sciences in a report issued on Tuesday, November 12th. Leerink Partnrs analyst J. Schwartz now expects that the company will earn ($0.86) per share for the year, up from their prior forecast of ($0.87). The consensus estimate for Wave Life Sciences’ current full-year earnings is ($1.09) per share. Leerink Partnrs also issued estimates for Wave Life Sciences’ Q4 2024 earnings at $0.10 EPS, Q1 2025 earnings at ($0.42) EPS, Q2 2025 earnings at ($0.43) EPS, Q3 2025 earnings at ($0.43) EPS, Q4 2025 earnings at ($0.34) EPS, FY2025 earnings at ($1.63) EPS and FY2026 earnings at ($0.92) EPS.

Several other equities analysts have also commented on the stock. Raymond James raised shares of Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and increased their price objective for the company from $13.00 to $22.00 in a research report on Wednesday, October 16th. Truist Financial raised their target price on Wave Life Sciences from $17.00 to $36.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. B. Riley lifted their price target on Wave Life Sciences from $19.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Royal Bank of Canada increased their price objective on Wave Life Sciences from $7.00 to $15.00 and gave the company a “sector perform” rating in a report on Monday, October 21st. Finally, Leerink Partners lifted their target price on Wave Life Sciences from $20.00 to $22.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $21.89.

Wave Life Sciences Price Performance

Shares of NASDAQ:WVE opened at $13.67 on Friday. The firm has a market capitalization of $2.08 billion, a P/E ratio of -12.32 and a beta of -1.20. The business’s 50-day moving average is $10.76 and its 200 day moving average is $7.54. Wave Life Sciences has a 1 year low of $3.50 and a 1 year high of $16.74.

Insider Activity at Wave Life Sciences

In other Wave Life Sciences news, insider Chris Francis sold 36,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $16.00, for a total value of $576,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kyle Moran sold 17,146 shares of Wave Life Sciences stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $9.00, for a total transaction of $154,314.00. Following the completion of the sale, the chief financial officer now directly owns 19,777 shares in the company, valued at $177,993. This represents a 46.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 452,056 shares of company stock worth $5,955,438 in the last three months. Company insiders own 29.10% of the company’s stock.

Institutional Investors Weigh In On Wave Life Sciences

Institutional investors have recently bought and sold shares of the company. Emerald Advisers LLC purchased a new position in Wave Life Sciences in the 2nd quarter worth approximately $12,441,000. Maverick Capital Ltd. increased its stake in shares of Wave Life Sciences by 31.0% in the 3rd quarter. Maverick Capital Ltd. now owns 10,047,520 shares of the company’s stock worth $82,390,000 after acquiring an additional 2,378,159 shares during the last quarter. Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Wave Life Sciences in the 2nd quarter worth $9,086,000. Artal Group S.A. raised its holdings in shares of Wave Life Sciences by 34.7% during the 1st quarter. Artal Group S.A. now owns 4,051,400 shares of the company’s stock worth $24,997,000 after acquiring an additional 1,044,000 shares during the period. Finally, FMR LLC boosted its position in shares of Wave Life Sciences by 174.5% during the 3rd quarter. FMR LLC now owns 1,540,190 shares of the company’s stock valued at $12,630,000 after acquiring an additional 979,110 shares during the last quarter. 89.73% of the stock is currently owned by institutional investors and hedge funds.

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.