Wave Life Sciences (NASDAQ:WVE) Earns “Buy” Rating from HC Wainwright

Wave Life Sciences (NASDAQ:WVE)‘s stock had its “buy” rating reaffirmed by equities research analysts at HC Wainwright in a note issued to investors on Wednesday,Benzinga reports. They presently have a $22.00 price objective on the stock. HC Wainwright’s price objective would suggest a potential upside of 116.11% from the company’s current price. HC Wainwright also issued estimates for Wave Life Sciences’ Q1 2025 earnings at ($0.26) EPS, Q2 2025 earnings at ($0.24) EPS, Q3 2025 earnings at ($0.22) EPS and Q4 2025 earnings at ($0.15) EPS.

Other analysts have also recently issued research reports about the stock. Truist Financial raised their target price on shares of Wave Life Sciences from $17.00 to $36.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Mizuho raised their price objective on shares of Wave Life Sciences from $19.00 to $22.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Jefferies Financial Group began coverage on Wave Life Sciences in a report on Tuesday, February 25th. They issued a “buy” rating and a $26.00 target price on the stock. Finally, StockNews.com raised Wave Life Sciences from a “sell” rating to a “hold” rating in a report on Thursday, February 27th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $22.60.

Wave Life Sciences Stock Down 3.7 %

NASDAQ:WVE opened at $10.18 on Wednesday. Wave Life Sciences has a 52 week low of $4.25 and a 52 week high of $16.74. The company has a fifty day simple moving average of $11.51 and a two-hundred day simple moving average of $11.18. The company has a market cap of $1.55 billion, a price-to-earnings ratio of -9.17 and a beta of -1.09.

Wave Life Sciences (NASDAQ:WVE) last released its earnings results on Tuesday, March 4th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of ($0.17) by $0.34. The firm had revenue of $83.75 million during the quarter, compared to analysts’ expectations of $25.60 million. Wave Life Sciences had a negative return on equity of 280.57% and a negative net margin of 66.50%. On average, analysts expect that Wave Life Sciences will post -1.14 EPS for the current year.

Institutional Investors Weigh In On Wave Life Sciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WVE. Charles Schwab Investment Management Inc. increased its holdings in shares of Wave Life Sciences by 209.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 844,617 shares of the company’s stock valued at $6,926,000 after acquiring an additional 571,345 shares during the period. FMR LLC increased its stake in Wave Life Sciences by 174.5% in the third quarter. FMR LLC now owns 1,540,190 shares of the company’s stock valued at $12,630,000 after purchasing an additional 979,110 shares during the period. Maven Securities LTD purchased a new stake in shares of Wave Life Sciences in the third quarter valued at about $6,970,000. Privium Fund Management B.V. purchased a new stake in shares of Wave Life Sciences in the third quarter valued at about $400,000. Finally, Barclays PLC boosted its stake in shares of Wave Life Sciences by 171.1% during the third quarter. Barclays PLC now owns 159,241 shares of the company’s stock worth $1,307,000 after buying an additional 100,498 shares during the period. Hedge funds and other institutional investors own 89.73% of the company’s stock.

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.