Analysts predict that Wave Life Sciences Ltd (NASDAQ:WVE) will report sales of $6.01 million for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Wave Life Sciences’ earnings, with the lowest sales estimate coming in at $3.82 million and the highest estimate coming in at $11.40 million. Wave Life Sciences reported sales of $1.68 million during the same quarter last year, which indicates a positive year over year growth rate of 257.7%. The firm is scheduled to issue its next earnings results on Monday, March 11th.
On average, analysts expect that Wave Life Sciences will report full-year sales of $16.98 million for the current year, with estimates ranging from $14.61 million to $22.20 million. For the next year, analysts forecast that the business will post sales of $80.39 million, with estimates ranging from $11.28 million to $160.00 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Wave Life Sciences.
Several equities analysts recently commented on WVE shares. Zacks Investment Research downgraded Wave Life Sciences from a “hold” rating to a “sell” rating in a research report on Saturday, January 19th. ValuEngine cut Wave Life Sciences from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 24th. BidaskClub raised Wave Life Sciences from a “hold” rating to a “buy” rating in a research note on Tuesday, December 4th. Leerink Swann reaffirmed an “outperform” rating on shares of Wave Life Sciences in a research note on Sunday, November 11th. Finally, HC Wainwright set a $49.00 target price on Wave Life Sciences and gave the company a “buy” rating in a research note on Monday, December 10th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. Wave Life Sciences currently has a consensus rating of “Buy” and a consensus price target of $58.20.
In other news, Director Ra Capital Management, Llc purchased 263,158 shares of the company’s stock in a transaction dated Thursday, January 24th. The stock was bought at an average cost of $38.00 per share, for a total transaction of $10,000,004.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 44.20% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of WVE. BlackRock Inc. grew its stake in shares of Wave Life Sciences by 37.0% in the 2nd quarter. BlackRock Inc. now owns 1,201,655 shares of the company’s stock valued at $45,963,000 after buying an additional 324,659 shares during the period. Voya Investment Management LLC lifted its position in shares of Wave Life Sciences by 37.8% during the 2nd quarter. Voya Investment Management LLC now owns 6,873 shares of the company’s stock worth $263,000 after buying an additional 1,884 shares in the last quarter. Northern Trust Corp lifted its position in shares of Wave Life Sciences by 44.1% during the 2nd quarter. Northern Trust Corp now owns 221,545 shares of the company’s stock worth $8,474,000 after buying an additional 67,774 shares in the last quarter. Strs Ohio bought a new position in shares of Wave Life Sciences during the 3rd quarter worth approximately $140,000. Finally, Matisse Capital raised its holdings in shares of Wave Life Sciences by 13.7% in the 3rd quarter. Matisse Capital now owns 42,319 shares of the company’s stock worth $2,116,000 after purchasing an additional 5,085 shares during the period. Institutional investors own 80.81% of the company’s stock.
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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