Wall Street analysts expect Wave Life Sciences Ltd (NASDAQ:WVE) to announce sales of $6.04 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for Wave Life Sciences’ earnings, with the lowest sales estimate coming in at $700,000.00 and the highest estimate coming in at $14.40 million. Wave Life Sciences reported sales of $680,000.00 in the same quarter last year, which indicates a positive year-over-year growth rate of 788.2%. The firm is scheduled to announce its next earnings results on Thursday, November 8th.
On average, analysts expect that Wave Life Sciences will report full year sales of $23.65 million for the current fiscal year, with estimates ranging from $6.50 million to $44.50 million. For the next financial year, analysts anticipate that the company will post sales of $49.13 million per share, with estimates ranging from $5.16 million to $121.00 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Wave Life Sciences.
Wave Life Sciences (NASDAQ:WVE) last released its quarterly earnings data on Thursday, August 9th. The company reported ($1.23) earnings per share 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 92.00%. The firm had revenue of $4.88 million for the quarter, compared to analyst estimates of $7.38 million.
Several research firms recently weighed in on WVE. TheStreet downgraded 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 Wave Life Sciences and gave the company a “buy” rating in a report on Friday, June 29th. ValuEngine raised Wave Life Sciences from a “buy” rating to a “strong-buy” rating in a report on Monday, July 2nd. BidaskClub downgraded Wave Life Sciences from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 21st. Finally, Stifel Nicolaus started coverage on Wave Life Sciences in a report on Monday, August 6th. They set a “buy” rating and a $56.00 target price on the stock. One analyst has rated the stock with a sell rating, five have assigned a buy rating and two have given a strong buy rating to the company. Wave Life Sciences presently has a consensus rating of “Buy” and an average target price of $58.40.
Shares of Wave Life Sciences traded up $5.00, hitting $44.00, during mid-day trading on Tuesday, according to Marketbeat Ratings. 152,412 shares of the stock traded hands, compared to its average volume of 136,479. The company has a debt-to-equity ratio of 0.04, a current ratio of 7.24 and a quick ratio of 7.24. Wave Life Sciences has a twelve month low of $16.05 and a twelve month high of $55.95.
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 the business’s stock in a transaction dated Monday, July 9th. The shares were 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 105,199 shares of company stock worth $4,630,337 over the last ninety days. Company insiders own 44.20% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Barclays PLC lifted its stake in shares of Wave Life Sciences by 11.2% in the 1st quarter. Barclays PLC now owns 16,201 shares of the company’s stock valued at $650,000 after purchasing an additional 1,627 shares during the period. UBS Group AG lifted its stake in shares of Wave Life Sciences by 26.0% in the 1st quarter. UBS Group AG now owns 8,356 shares of the company’s stock valued at $335,000 after purchasing an additional 1,723 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Wave Life Sciences in the 1st quarter valued at about $120,000. Rhumbline Advisers lifted its stake in shares of Wave Life Sciences by 50.0% in the 2nd quarter. Rhumbline Advisers now owns 16,116 shares of the company’s stock valued at $616,000 after purchasing an additional 5,375 shares during the period. Finally, California Public Employees Retirement System acquired a new position in shares of Wave Life Sciences in the 1st quarter valued at about $219,000. 80.78% of the stock is currently owned by 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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