Zacks: Analysts Anticipate Wave Life Sciences Ltd (WVE) Will Announce Earnings of -$1.24 Per Share

Analysts expect that Wave Life Sciences Ltd (NASDAQ:WVE) will announce earnings per share (EPS) of ($1.24) for the current quarter, Zacks reports. Five analysts have provided estimates for Wave Life Sciences’ earnings, with the highest EPS estimate coming in at ($1.13) and the lowest estimate coming in at ($1.34). Wave Life Sciences reported earnings per share of ($1.09) in the same quarter last year, which would indicate a negative year over year growth rate of 13.8%. The company is expected to announce its next quarterly earnings report on Monday, March 11th.

On average, analysts expect that Wave Life Sciences will report full-year earnings of ($5.00) per share for the current financial year, with EPS estimates ranging from ($5.12) to ($4.87). For the next fiscal year, analysts forecast that the firm will report earnings of ($2.97) per share, with EPS estimates ranging from ($5.02) to ($1.06). Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that cover Wave Life Sciences.

Wave Life Sciences (NASDAQ:WVE) last issued its quarterly earnings results on Friday, November 9th. The company reported ($1.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.26) by ($0.02). Wave Life Sciences had a negative net margin of 1,114.49% and a negative return on equity of 112.13%. The business had revenue of $4.49 million during the quarter, compared to analyst estimates of $5.36 million.

A number of brokerages have issued reports on WVE. BidaskClub upgraded shares of Wave Life Sciences from a “hold” rating to a “buy” rating in a research report on Tuesday. Leerink Swann restated an “outperform” rating on shares of Wave Life Sciences in a research report on Sunday, November 11th. Mizuho set a $65.00 target price on shares of Wave Life Sciences and gave the stock a “buy” rating in a research report on Thursday, August 9th. Finally, HC Wainwright set a $49.00 target price on shares of Wave Life Sciences and gave the stock a “buy” rating in a research report on Friday, August 10th. One research analyst has rated the stock with a sell rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Wave Life Sciences presently has a consensus rating of “Buy” and a consensus target price of $58.20.

Shares of Wave Life Sciences stock traded down $1.09 during trading on Wednesday, hitting $46.83. 124,097 shares of the stock were exchanged, compared to its average volume of 86,362. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.85 and a quick ratio of 1.85. The firm has a market capitalization of $1.41 billion, a PE ratio of -12.16 and a beta of 1.09. Wave Life Sciences has a 1-year low of $31.65 and a 1-year high of $56.00.

In other Wave Life Sciences news, CFO Keith Regnante sold 29,500 shares of the firm’s stock in a transaction on Monday, September 24th. The stock was sold at an average price of $55.00, for a total value of $1,622,500.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Chandra Vargeese sold 3,000 shares of the firm’s stock in a transaction on Monday, September 24th. The shares were sold at an average price of $55.00, for a total value of $165,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 59,075 shares of company stock worth $3,018,600 in the last quarter. 44.20% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of WVE. Redmile Group LLC boosted its stake in shares of Wave Life Sciences by 0.3% during the second quarter. Redmile Group LLC now owns 2,244,507 shares of the company’s stock valued at $85,852,000 after purchasing an additional 6,900 shares in the last quarter. Spark Investment Management LLC boosted its position in Wave Life Sciences by 38.1% during the 2nd quarter. Spark Investment Management LLC now owns 155,600 shares of the company’s stock worth $5,951,000 after buying an additional 42,900 shares during the period. Boxer Capital LLC boosted its position in Wave Life Sciences by 17.8% during the 2nd quarter. Boxer Capital LLC now owns 1,590,600 shares of the company’s stock worth $60,840,000 after buying an additional 240,600 shares during the period. UBS Group AG boosted its position in Wave Life Sciences by 26.0% during the 1st quarter. UBS Group AG now owns 8,356 shares of the company’s stock worth $335,000 after buying an additional 1,723 shares during the period. Finally, Point72 Asset Management L.P. boosted its position in Wave Life Sciences by 727.4% during the 2nd quarter. Point72 Asset Management L.P. now owns 350,000 shares of the company’s stock worth $13,388,000 after buying an additional 307,700 shares during the period. Institutional investors own 80.78% of the company’s stock.

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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