Wave Life Sciences (WVE) Stock Rating Reaffirmed by Mizuho

Wave Life Sciences (NASDAQ:WVE)‘s stock had its “buy” rating reaffirmed by Mizuho in a research report issued to clients and investors on Monday, AnalystRatings.com reports. They presently have a $65.00 price target on the stock. Mizuho’s target price points to a potential upside of 165.63% from the stock’s current price.

Other equities research analysts have also recently issued reports about the stock. ValuEngine cut shares of Wave Life Sciences from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 24th. BidaskClub raised shares of Wave Life Sciences from a “hold” rating to a “buy” rating in a research report on Thursday, February 28th. Finally, Zacks Investment Research cut shares of Wave Life Sciences from a “hold” rating to a “sell” rating in a research report on Saturday, January 26th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $57.75.

Shares of NASDAQ:WVE opened at $24.47 on Monday. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.13. Wave Life Sciences has a one year low of $22.90 and a one year high of $56.00. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of -4.84 and a beta of 0.83.

Wave Life Sciences (NASDAQ:WVE) last issued its quarterly earnings results on Friday, March 1st. The company reported ($1.29) EPS for the quarter, missing the consensus estimate of ($1.24) by ($0.05). Wave Life Sciences had a negative return on equity of 136.64% and a negative net margin of 1,017.43%. The business had revenue of $3.62 million for the quarter, compared to the consensus estimate of $6.01 million. As a group, equities analysts forecast that Wave Life Sciences will post -3.91 EPS for the current fiscal year.

In other news, insider Michael A. Panzara sold 7,000 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $48.00, for a total value of $336,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Ra Capital Management, Llc bought 263,158 shares of the company’s stock in a transaction dated Thursday, January 24th. The stock was purchased at an average cost of $38.00 per share, for a total transaction of $10,000,004.00. The disclosure for this purchase can be found here. Insiders own 44.20% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Quantamental Technologies LLC bought a new stake in shares of Wave Life Sciences in the 4th quarter valued at about $29,000. Citigroup Inc. raised its holdings in shares of Wave Life Sciences by 189.4% in the 4th quarter. Citigroup Inc. now owns 2,807 shares of the company’s stock valued at $118,000 after purchasing an additional 1,837 shares during the period. Amundi Pioneer Asset Management Inc. raised its holdings in shares of Wave Life Sciences by 45.0% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 2,900 shares of the company’s stock valued at $122,000 after purchasing an additional 900 shares during the period. Legal & General Group Plc raised its holdings in shares of Wave Life Sciences by 17.9% in the 4th quarter. Legal & General Group Plc now owns 3,094 shares of the company’s stock valued at $130,000 after purchasing an additional 469 shares during the period. Finally, United Services Automobile Association bought a new stake in shares of Wave Life Sciences in the 3rd quarter valued at about $204,000. 71.31% of the stock is currently owned by institutional investors.

About Wave Life Sciences

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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