$5.36 Million in Sales Expected for Wave Life Sciences Ltd (WVE) This Quarter

Brokerages expect Wave Life Sciences Ltd (NASDAQ:WVE) to post sales of $5.36 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Wave Life Sciences’ earnings. The highest sales estimate is $11.40 million and the lowest is $700,000.00. Wave Life Sciences posted sales of $680,000.00 in the same quarter last year, which suggests a positive year-over-year growth rate of 688.2%. The business is expected to announce its next quarterly earnings report on Thursday, November 8th.

On average, analysts expect that Wave Life Sciences will report full year sales of $17.18 million for the current year, with estimates ranging from $7.70 million to $29.10 million. For the next fiscal year, analysts forecast that the business will post sales of $79.17 million per share, with estimates ranging from $5.16 million to $160.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Wave Life Sciences.

Wave Life Sciences (NASDAQ:WVE) last announced its quarterly earnings results on Thursday, August 9th. The company reported ($1.23) 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 firm had revenue of $4.88 million during the quarter, compared to the consensus estimate of $7.38 million.

Several research analysts have commented on WVE shares. BidaskClub raised shares of Wave Life Sciences from a “hold” rating to a “buy” rating in a report on Wednesday, May 30th. ValuEngine raised shares of Wave Life Sciences from a “hold” rating to a “buy” rating in a report on Saturday, June 2nd. TheStreet downgraded shares of Wave Life Sciences from a “c-” rating to a “d+” rating in a report on Thursday, May 31st. Mizuho set a $65.00 price objective on shares of Wave Life Sciences and gave the stock a “buy” rating in a report on Friday, June 29th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $49.00 price objective on shares of Wave Life Sciences in a report on Monday, July 23rd. One investment analyst has rated the stock with a sell rating, five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $58.40.

NASDAQ:WVE traded up $0.05 during trading hours on Friday, hitting $48.75. The stock had a trading volume of 1,259 shares, compared to its average volume of 130,271. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.11 and a quick ratio of 6.11. Wave Life Sciences has a one year low of $17.40 and a one year high of $55.95. The company has a market cap of $1.43 billion, a price-to-earnings ratio of -12.66 and a beta of 0.69.

In other Wave Life Sciences news, insider Paul Bolno sold 31,711 shares of the business’s stock in a transaction on Wednesday, May 30th. The shares were sold at an average price of $45.00, for a total value of $1,426,995.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Chris Francis sold 48,992 shares of the business’s stock in a transaction on Friday, June 1st. The stock was sold at an average price of $46.75, for a total transaction of $2,290,376.00. The disclosure for this sale can be found here. Insiders have sold a total of 105,199 shares of company stock valued at $4,630,337 over the last ninety days. 44.20% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. acquired a new position in shares of Wave Life Sciences during the 4th quarter valued at about $222,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Wave Life Sciences during the 1st quarter valued at about $120,000. BB Biotech AG increased its holdings in shares of Wave Life Sciences by 4.7% during the 1st quarter. BB Biotech AG now owns 896,096 shares of the company’s stock valued at $35,933,000 after acquiring an additional 40,000 shares during the last quarter. Spark Investment Management LLC increased its holdings in shares of Wave Life Sciences by 180.3% during the 1st quarter. Spark Investment Management LLC now owns 112,700 shares of the company’s stock valued at $4,519,000 after acquiring an additional 72,500 shares during the last quarter. Finally, Artal Group S.A. increased its holdings in shares of Wave Life Sciences by 62.9% during the 1st quarter. Artal Group S.A. now owns 150,000 shares of the company’s stock valued at $6,015,000 after acquiring an additional 57,922 shares during the last quarter. 83.43% of the stock is 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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