Wave Life Sciences (NASDAQ:WVE) Lifted to “Strong-Buy” at Raymond James

Raymond James upgraded shares of Wave Life Sciences (NASDAQ:WVE) from an outperform rating to a strong-buy rating in a research report released on Wednesday, Marketbeat.com reports. The brokerage currently has $22.00 price objective on the stock, up from their previous price objective of $13.00.

A number of other equities analysts have also commented on the company. Mizuho reiterated an “outperform” rating and issued a $19.00 price objective on shares of Wave Life Sciences in a research note on Tuesday, June 25th. HC Wainwright lifted their price target on Wave Life Sciences from $15.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. B. Riley increased their price objective on Wave Life Sciences from $11.00 to $19.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Royal Bank of Canada boosted their target price on shares of Wave Life Sciences from $5.00 to $7.00 and gave the stock a “sector perform” rating in a research report on Friday, October 4th. Finally, JPMorgan Chase & Co. began coverage on shares of Wave Life Sciences in a report on Friday, September 27th. They issued an “overweight” rating and a $13.00 price target for the company. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $18.11.

Wave Life Sciences Stock Up 74.1 %

Shares of Wave Life Sciences stock opened at $14.90 on Wednesday. Wave Life Sciences has a 12-month low of $3.50 and a 12-month high of $15.54. The stock has a 50 day moving average price of $6.72 and a two-hundred day moving average price of $6.10. The stock has a market capitalization of $1.82 billion, a P/E ratio of -28.65 and a beta of -1.10.

Wave Life Sciences (NASDAQ:WVE) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.09). The firm had revenue of $19.69 million for the quarter, compared to the consensus estimate of $24.80 million. Wave Life Sciences had a negative return on equity of 1,395.99% and a negative net margin of 66.50%. During the same period in the prior year, the company posted ($0.20) earnings per share. Sell-side analysts anticipate that Wave Life Sciences will post -1.02 earnings per share for the current year.

Insider Activity

In related news, CEO Paul Bolno sold 48,366 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $5.78, for a total value of $279,555.48. Following the completion of the transaction, the chief executive officer now owns 359,059 shares of the company’s stock, valued at $2,075,361.02. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Paul Bolno sold 48,366 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $5.78, for a total value of $279,555.48. Following the sale, the chief executive officer now owns 359,059 shares of the company’s stock, valued at $2,075,361.02. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kyle Moran sold 17,146 shares of the stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $9.00, for a total value of $154,314.00. Following the transaction, the chief financial officer now owns 19,777 shares of the company’s stock, valued at $177,993. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 29.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Wave Life Sciences

Institutional investors have recently added to or reduced their stakes in the company. Mackenzie Financial Corp grew its stake in Wave Life Sciences by 13.6% during the second quarter. Mackenzie Financial Corp now owns 15,887 shares of the company’s stock worth $79,000 after buying an additional 1,905 shares during the last quarter. Ameritas Investment Partners Inc. grew its position in Wave Life Sciences by 50.2% during the 1st quarter. Ameritas Investment Partners Inc. now owns 7,334 shares of the company’s stock worth $45,000 after acquiring an additional 2,451 shares during the last quarter. Rhumbline Advisers increased its holdings in Wave Life Sciences by 3.4% during the 2nd quarter. Rhumbline Advisers now owns 125,834 shares of the company’s stock valued at $628,000 after purchasing an additional 4,092 shares in the last quarter. Swiss National Bank raised its position in Wave Life Sciences by 2.7% in the 1st quarter. Swiss National Bank now owns 156,500 shares of the company’s stock valued at $966,000 after purchasing an additional 4,100 shares during the last quarter. Finally, Capstone Investment Advisors LLC boosted its stake in Wave Life Sciences by 9.0% in the first quarter. Capstone Investment Advisors LLC now owns 54,500 shares of the company’s stock worth $336,000 after purchasing an additional 4,500 shares in the last quarter. 89.73% of the stock is owned by institutional investors.

About Wave Life Sciences

Wave Life Sciences Ltd., a clinical-stage biotechnology company, designs, develops, and commercializes ribonucleic acid (RNA) medicines through PRISM, a discovery and drug development platform. The company's RNA medicines platform, PRISM, combines multiple modalities, chemistry innovation, and deep insights into human genetics to deliver scientific breakthroughs that treat both rare and prevalent disorders.