Wave Life Sciences (NASDAQ:WVE) Upgraded to “Buy” by ValuEngine

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Wave Life Sciences (NASDAQ:WVE) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Thursday, ValuEngine reports.

WVE has been the topic of several other reports. Cowen reiterated a “hold” rating on shares of Wave Life Sciences in a research report on Tuesday, July 30th. SunTrust Banks decreased their price objective on shares of Wave Life Sciences to $39.00 and set a “buy” rating on the stock in a research report on Monday, May 20th. Stifel Nicolaus lowered shares of Wave Life Sciences from a “buy” rating to a “hold” rating in a research report on Tuesday, April 16th. HC Wainwright reiterated a “buy” rating on shares of Wave Life Sciences in a research report on Wednesday, July 31st. Finally, BidaskClub upgraded shares of Wave Life Sciences from a “strong sell” rating to a “sell” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. Wave Life Sciences has an average rating of “Hold” and an average price target of $49.50.

Shares of NASDAQ WVE opened at $20.80 on Thursday. The stock has a market cap of $667.47 million, a price-to-earnings ratio of -4.11 and a beta of 0.81. Wave Life Sciences has a one year low of $18.16 and a one year high of $56.00. The stock’s fifty day moving average is $24.17. The company has a quick ratio of 2.39, a current ratio of 2.39 and a debt-to-equity ratio of 0.16.

Wave Life Sciences (NASDAQ:WVE) last released its quarterly earnings data on Monday, July 29th. The company reported ($1.22) EPS for the quarter, missing the consensus estimate of ($1.11) by ($0.11). Wave Life Sciences had a negative return on equity of 128.71% and a negative net margin of 861.41%. The business had revenue of $7.63 million during the quarter, compared to analysts’ expectations of $15.76 million. As a group, equities research analysts forecast that Wave Life Sciences will post -5.38 earnings per share for the current year.

In other Wave Life Sciences news, insider Michael A. Panzara sold 3,058 shares of the company’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $26.94, for a total value of $82,382.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 39.70% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in WVE. Aperio Group LLC purchased a new position in Wave Life Sciences in the 2nd quarter valued at about $51,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in shares of Wave Life Sciences by 18.7% during the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 3,614 shares of the company’s stock valued at $94,000 after acquiring an additional 569 shares during the last quarter. Amundi Pioneer Asset Management Inc. increased its stake in shares of Wave Life Sciences by 45.0% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 2,900 shares of the company’s stock valued at $122,000 after acquiring an additional 900 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Wave Life Sciences by 17.9% during the 4th quarter. Legal & General Group Plc now owns 3,094 shares of the company’s stock valued at $130,000 after acquiring an additional 469 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Wave Life Sciences during the 1st quarter valued at about $140,000. Institutional investors own 85.77% of the company’s stock.

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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