Brokerages Expect Wave Life Sciences Ltd (WVE) Will Post Earnings of -$1.19 Per Share

Equities analysts forecast that Wave Life Sciences Ltd (NASDAQ:WVE) will announce ($1.19) earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Wave Life Sciences’ earnings, with estimates ranging from ($1.43) to ($0.72). Wave Life Sciences posted earnings of ($1.26) per share in the same quarter last year, which indicates a positive year-over-year growth rate of 5.6%. The business is scheduled to announce its next earnings results on Wednesday, May 8th.

On average, analysts expect that Wave Life Sciences will report full year earnings of ($3.91) per share for the current year, with EPS estimates ranging from ($5.82) to ($1.78). For the next fiscal year, analysts anticipate that the company will report earnings of ($4.98) per share, with EPS estimates ranging from ($6.14) to ($3.60). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow Wave Life Sciences.

Wave Life Sciences (NASDAQ:WVE) last posted its quarterly earnings results on Friday, March 1st. The company reported ($1.29) EPS for the quarter, missing analysts’ consensus estimates of ($1.24) by ($0.05). The company had revenue of $3.62 million during the quarter, compared to analyst estimates of $6.01 million. Wave Life Sciences had a negative return on equity of 136.64% and a negative net margin of 1,017.43%.

A number of research analysts have recently issued reports on the stock. ValuEngine upgraded shares of Wave Life Sciences from a “hold” rating to a “buy” rating in a report on Saturday, February 2nd. BidaskClub cut shares of Wave Life Sciences from a “strong-buy” rating to a “buy” rating in a report on Friday, March 15th. Zacks Investment Research cut shares of Wave Life Sciences from a “hold” rating to a “sell” rating in a report on Saturday, January 19th. Stifel Nicolaus cut shares of Wave Life Sciences from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Mizuho reiterated a “buy” rating and set a $65.00 price objective on shares of Wave Life Sciences in a report on Monday. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. Wave Life Sciences has a consensus rating of “Hold” and a consensus price target of $53.75.

In other news, Director Ra Capital Management, Llc purchased 263,158 shares of the company’s stock in a transaction that occurred on Thursday, January 24th. The shares were bought at an average cost of $38.00 per share, with a total value of $10,000,004.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Paul Bolno sold 50,000 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $45.48, for a total transaction of $2,274,000.00. The disclosure for this sale can be found here. 44.20% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its position in shares of Wave Life Sciences by 8.8% during the fourth quarter. Geode Capital Management LLC now owns 193,595 shares of the company’s stock valued at $8,138,000 after purchasing an additional 15,664 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Wave Life Sciences by 17.9% during the fourth quarter. Legal & General Group Plc now owns 3,094 shares of the company’s stock valued at $130,000 after purchasing an additional 469 shares in the last quarter. Wexford Capital LP bought a new position in shares of Wave Life Sciences during the fourth quarter valued at about $430,000. Amundi Pioneer Asset Management Inc. lifted its position in shares of Wave Life Sciences by 45.0% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 2,900 shares of the company’s stock valued at $122,000 after purchasing an additional 900 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its position in shares of Wave Life Sciences by 14.8% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 125,291 shares of the company’s stock valued at $5,268,000 after purchasing an additional 16,177 shares in the last quarter. 71.31% of the stock is currently owned by institutional investors.

NASDAQ:WVE opened at $26.01 on Monday. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of -5.14 and a beta of 0.83. Wave Life Sciences has a 12 month low of $22.90 and a 12 month high of $56.00.

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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Earnings History and Estimates for Wave Life Sciences (NASDAQ:WVE)

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