Analysts Anticipate Wave Life Sciences Ltd (WVE) Will Post Earnings of -$1.16 Per Share

Wall Street brokerages expect that Wave Life Sciences Ltd (NASDAQ:WVE) will post earnings per share of ($1.16) for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Wave Life Sciences’ earnings. The highest EPS estimate is ($0.91) and the lowest is ($1.31). Wave Life Sciences reported earnings per share of ($0.92) in the same quarter last year, which suggests a negative year over year growth rate of 26.1%. The business is expected to issue its next quarterly earnings results on Wednesday, August 8th.

On average, analysts expect that Wave Life Sciences will report full-year earnings of ($4.78) per share for the current year, with EPS estimates ranging from ($5.14) to ($4.13). For the next year, analysts forecast that the company will report earnings of ($4.10) per share, with EPS estimates ranging from ($5.34) to ($2.30). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Wave Life Sciences.

Wave Life Sciences (NASDAQ:WVE) last issued its quarterly earnings data on Wednesday, May 9th. The company reported ($1.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.36). The firm had revenue of $1.42 million for the quarter, compared to the consensus estimate of $6.59 million. Wave Life Sciences had a negative return on equity of 76.93% and a negative net margin of 2,613.03%.

A number of equities research analysts recently weighed in on WVE shares. Mizuho set a $65.00 price objective on Wave Life Sciences and gave the stock a “buy” rating in a research report on Friday, June 29th. BidaskClub lowered Wave Life Sciences from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 21st. ValuEngine upgraded Wave Life Sciences from a “hold” rating to a “buy” rating in a research report on Saturday, June 2nd. Finally, TheStreet lowered Wave Life Sciences from a “c-” rating to a “d+” rating in a research report on Thursday, May 31st. One investment analyst has rated the stock with a sell rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $56.75.

Shares of WVE stock opened at $38.15 on Thursday. The firm has a market cap of $1.10 billion, a P/E ratio of -9.91 and a beta of 0.69. Wave Life Sciences has a twelve month low of $15.15 and a twelve month high of $55.95. The company has a debt-to-equity ratio of 0.04, a quick ratio of 7.24 and a current ratio of 7.24.

In other Wave Life Sciences news, insider Paul Bolno sold 31,711 shares of Wave Life Sciences stock in a transaction dated Wednesday, May 30th. The stock was sold at an average price of $45.00, for a total transaction of $1,426,995.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Chris Francis sold 24,496 shares of Wave Life Sciences stock in a transaction dated Monday, July 9th. The stock was sold at an average price of $37.27, for a total value of $912,965.92. The disclosure for this sale can be found here. Insiders have sold a total of 123,488 shares of company stock worth $5,453,342 over the last ninety days. Company insiders own 44.20% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in WVE. Schwab Charles Investment Management Inc. lifted its holdings in Wave Life Sciences by 31.6% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 74,421 shares of the company’s stock worth $2,613,000 after buying an additional 17,884 shares during the period. Bank of New York Mellon Corp lifted its holdings in Wave Life Sciences by 15.5% during the 4th quarter. Bank of New York Mellon Corp now owns 57,388 shares of the company’s stock worth $2,015,000 after buying an additional 7,695 shares during the period. BlackRock Inc. lifted its holdings in Wave Life Sciences by 60.0% during the 4th quarter. BlackRock Inc. now owns 934,733 shares of the company’s stock worth $32,810,000 after buying an additional 350,570 shares during the period. Goldman Sachs Group Inc. acquired a new position in Wave Life Sciences during the 4th quarter worth about $222,000. Finally, Two Sigma Investments LP acquired a new position in Wave Life Sciences during the 4th quarter worth about $828,000. 80.78% of the stock is currently owned by hedge funds and other institutional investors.

Wave Life Sciences Company Profile

Wave Life Sciences Ltd., a biotechnology company, designs, develops, and commercializes nucleic acid therapeutic candidates for genetically defined diseases by utilizing proprietary synthetic chemistry drug development 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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Earnings History and Estimates for Wave Life Sciences (NASDAQ:WVE)

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