BidaskClub Downgrades Wave Life Sciences (WVE) to Buy

Wave Life Sciences (NASDAQ:WVE) was downgraded by equities research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Friday.

WVE has been the subject of several other reports. ValuEngine upgraded shares of Wave Life Sciences from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 2nd. Mizuho set a $65.00 price objective on shares of Wave Life Sciences and gave the stock a “buy” rating in a research report on Friday, June 29th. Stifel Nicolaus started coverage on shares of Wave Life Sciences in a research report on Monday, August 6th. They set a “buy” rating and a $56.00 price objective for the company. HC Wainwright reiterated a “buy” rating and set a $49.00 price objective on shares of Wave Life Sciences in a research report on Monday, July 23rd. Finally, TheStreet cut shares of 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, six have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $58.40.

Shares of NASDAQ WVE opened at $50.05 on Friday. The company has a quick ratio of 6.11, a current ratio of 6.11 and a debt-to-equity ratio of 0.05. Wave Life Sciences has a 52-week low of $21.00 and a 52-week high of $56.00. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of -13.00 and a beta of 0.96.

Wave Life Sciences (NASDAQ:WVE) last announced its quarterly earnings results on Thursday, August 9th. The company reported ($1.23) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.35) by ($0.88). Wave Life Sciences had a negative net margin of 1,473.26% and a negative return on equity of 91.88%. The business had revenue of $4.88 million during the quarter, compared to analyst estimates of $7.38 million. research analysts expect that Wave Life Sciences will post -4.99 earnings per share for the current year.

In related news, CFO Keith Regnante sold 29,500 shares of the stock in a transaction on Monday, September 24th. The shares were sold at an average price of $55.00, for a total transaction of $1,622,500.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Chandra Vargeese sold 3,000 shares of the stock in a transaction on Monday, September 24th. The stock was sold at an average price of $55.00, for a total transaction of $165,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 68,571 shares of company stock valued at $3,348,666. 44.20% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. California Public Employees Retirement System bought a new position in Wave Life Sciences during the first quarter worth $219,000. Voya Investment Management LLC boosted its stake in Wave Life Sciences by 37.8% during the second quarter. Voya Investment Management LLC now owns 6,873 shares of the company’s stock worth $263,000 after acquiring an additional 1,884 shares in the last quarter. Millennium Management LLC bought a new position in Wave Life Sciences during the first quarter worth $330,000. UBS Group AG boosted its stake in Wave Life Sciences by 26.0% during the first quarter. UBS Group AG now owns 8,356 shares of the company’s stock worth $335,000 after acquiring an additional 1,723 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System bought a new position in Wave Life Sciences during the second quarter worth $334,000. 83.42% of the stock is currently owned by institutional investors and hedge funds.

About Wave Life Sciences

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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Analyst Recommendations for Wave Life Sciences (NASDAQ:WVE)

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