Analysts expect that Wave Life Sciences Ltd (NASDAQ:WVE) will report $6.59 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Wave Life Sciences’ earnings, with the highest sales estimate coming in at $9.20 million and the lowest estimate coming in at $2.00 million. Wave Life Sciences posted sales of $680,000.00 during the same quarter last year, which would indicate a positive year-over-year growth rate of 869.1%. The company is scheduled to report its next earnings report on Wednesday, May 9th.
On average, analysts expect that Wave Life Sciences will report full-year sales of $6.59 million for the current financial year, with estimates ranging from $8.00 million to $36.70 million. For the next fiscal year, analysts forecast that the firm will report sales of $43.87 million per share, with estimates ranging from $20.00 million to $76.70 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Wave Life Sciences.
WVE has been the topic of several research analyst reports. Zacks Investment Research lowered shares of Wave Life Sciences from a “hold” rating to a “sell” rating in a research report on Saturday, January 13th. BidaskClub raised shares of Wave Life Sciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday, December 2nd. Mizuho set a $34.00 price target on shares of Wave Life Sciences and gave the stock a “buy” rating in a research note on Tuesday, February 20th. Finally, Leerink Swann raised their price target on shares of Wave Life Sciences from $53.00 to $64.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 21st. Two investment analysts have rated the stock with a sell rating and seven have given a buy rating to the company’s stock. Wave Life Sciences presently has a consensus rating of “Buy” and an average price target of $53.40.
A number of hedge funds have recently modified their holdings of WVE. The Manufacturers Life Insurance Company raised its stake in Wave Life Sciences by 71.0% during the second quarter. The Manufacturers Life Insurance Company now owns 9,422 shares of the company’s stock worth $175,000 after purchasing an additional 3,912 shares during the period. Goldman Sachs Group Inc. purchased a new position in Wave Life Sciences during the fourth quarter worth about $222,000. New York State Common Retirement Fund raised its stake in Wave Life Sciences by 64.9% during the second quarter. New York State Common Retirement Fund now owns 12,700 shares of the company’s stock worth $236,000 after purchasing an additional 4,999 shares during the period. Parametric Portfolio Associates LLC purchased a new position in Wave Life Sciences during the second quarter worth about $311,000. Finally, State of Wisconsin Investment Board purchased a new position in Wave Life Sciences during the fourth quarter worth about $316,000. 79.40% of the stock is currently owned by institutional investors.
Shares of Wave Life Sciences stock traded down $0.65 during midday trading on Thursday, hitting $39.70. 137,725 shares of the stock traded hands, compared to its average volume of 165,236. Wave Life Sciences has a 1-year low of $15.15 and a 1-year high of $55.95. The firm has a market capitalization of $1,111.28, a price-to-earnings ratio of -10.34 and a beta of 0.14. The company has a current ratio of 7.67, a quick ratio of 7.67 and a debt-to-equity ratio of 0.02.
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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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