Wall Street analysts expect that Wave Life Sciences Ltd (NASDAQ:WVE) will report $6.30 million in sales for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Wave Life Sciences’ earnings, with estimates ranging from $3.02 million to $9.50 million. Wave Life Sciences posted sales of $4.49 million in the same quarter last year, which would indicate a positive year over year growth rate of 40.3%. The company is scheduled to announce its next earnings report on Friday, November 8th.
On average, analysts expect that Wave Life Sciences will report full-year sales of $24.76 million for the current year, with estimates ranging from $16.69 million to $31.70 million. For the next year, analysts forecast that the business will post sales of $77.78 million, with estimates ranging from $13.88 million to $150.00 million. Zacks’ sales calculations are an average based on a survey of analysts that cover Wave Life Sciences.
Wave Life Sciences (NASDAQ:WVE) last issued its quarterly earnings data on Monday, July 29th. The company reported ($1.22) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.11) by ($0.11). Wave Life Sciences had a negative net margin of 861.41% and a negative return on equity of 120.41%. The firm had revenue of $7.63 million during the quarter, compared to analyst estimates of $15.76 million.
Several analysts have issued reports on the stock. Cowen reaffirmed a “hold” rating on shares of Wave Life Sciences in a research report on Tuesday, July 30th. BidaskClub downgraded shares of Wave Life Sciences from a “hold” rating to a “sell” rating in a research report on Friday, September 27th. Zacks Investment Research downgraded shares of Wave Life Sciences from a “buy” rating to a “hold” rating in a research report on Saturday. ValuEngine raised shares of Wave Life Sciences from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Finally, HC Wainwright set a $33.00 price target on shares of Wave Life Sciences and gave the stock a “buy” rating in a research report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $49.50.
NASDAQ:WVE traded up $0.08 during trading hours on Thursday, hitting $21.69. The stock had a trading volume of 91,792 shares, compared to its average volume of 343,356. The company has a current ratio of 2.33, a quick ratio of 2.33 and a debt-to-equity ratio of 0.19. Wave Life Sciences has a 1-year low of $17.59 and a 1-year high of $50.98. The business has a 50 day simple moving average of $21.51 and a two-hundred day simple moving average of $24.54. The company has a market cap of $705.15 million, a PE ratio of -4.29 and a beta of 0.75.
Several hedge funds have recently added to or reduced their stakes in the company. Janus Henderson Group PLC grew its position in shares of Wave Life Sciences by 16.1% during the second quarter. Janus Henderson Group PLC now owns 3,392,298 shares of the company’s stock worth $88,505,000 after buying an additional 470,402 shares in the last quarter. BlackRock Inc. grew its position in shares of Wave Life Sciences by 6.7% during the second quarter. BlackRock Inc. now owns 1,811,996 shares of the company’s stock worth $47,275,000 after buying an additional 113,292 shares in the last quarter. Northern Trust Corp grew its position in shares of Wave Life Sciences by 2.0% during the second quarter. Northern Trust Corp now owns 265,291 shares of the company’s stock worth $6,922,000 after buying an additional 5,145 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Wave Life Sciences by 8.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 115,769 shares of the company’s stock worth $3,021,000 after purchasing an additional 9,273 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Wave Life Sciences by 9.4% in the second quarter. Bank of New York Mellon Corp now owns 90,485 shares of the company’s stock worth $2,360,000 after purchasing an additional 7,769 shares during the period. 88.84% of the stock is owned by institutional investors and hedge funds.
About Wave Life Sciences
Wave Life Sciences Ltd., a clinical stage genetic medicine company, designs, optimizes, and produces of novel stereopure oligonucleotides through PRISM, a discovery and drug developing 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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