Zacks: Analysts Expect Wave Life Sciences Ltd (NASDAQ:WVE) Will Post Earnings of -$1.39 Per Share

Wall Street brokerages expect Wave Life Sciences Ltd (NASDAQ:WVE) to post earnings per share of ($1.39) for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Wave Life Sciences’ earnings. The highest EPS estimate is ($1.28) and the lowest is ($1.50). Wave Life Sciences reported earnings of ($1.28) per share in the same quarter last year, which indicates a negative year-over-year growth rate of 8.6%. The firm is scheduled to announce its next quarterly earnings report on Friday, November 8th.

According to Zacks, analysts expect that Wave Life Sciences will report full year earnings of ($5.38) per share for the current year, with EPS estimates ranging from ($5.88) to ($5.01). For the next year, analysts expect that the company will post earnings of ($4.51) per share, with EPS estimates ranging from ($5.45) to ($3.32). Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that follow Wave Life Sciences.

Wave Life Sciences (NASDAQ:WVE) last issued its quarterly earnings data on Monday, July 29th. The company reported ($1.22) EPS for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.11). Wave Life Sciences had a negative return on equity of 128.71% and a negative net margin of 861.41%. The company had revenue of $7.63 million for the quarter, compared to analyst estimates of $15.76 million.

A number of brokerages recently commented on WVE. SunTrust Banks dropped their price objective on shares of Wave Life Sciences to $39.00 and set a “buy” rating on the stock in a report on Monday, May 20th. ValuEngine lowered shares of Wave Life Sciences from a “buy” rating to a “hold” rating in a research note on Tuesday, April 16th. BidaskClub lowered shares of Wave Life Sciences from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 13th. Stifel Nicolaus lowered shares of Wave Life Sciences from a “buy” rating to a “hold” rating in a research note on Tuesday, April 16th. Finally, Zacks Investment Research lowered shares of Wave Life Sciences from a “buy” rating to a “hold” rating in a research note on Saturday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $49.50.

Shares of NASDAQ:WVE traded up $0.75 during midday trading on Wednesday, reaching $20.80. 324,300 shares of the company were exchanged, compared to its average volume of 392,041. Wave Life Sciences has a fifty-two week low of $18.16 and a fifty-two week high of $56.00. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.39 and a current ratio of 2.39. The stock’s fifty day moving average price is $24.17. The firm has a market cap of $656.85 million, a price-to-earnings ratio of -4.11 and a beta of 0.81.

In other news, insider Michael A. Panzara sold 3,058 shares of Wave Life Sciences stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $26.94, for a total value of $82,382.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 39.70% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Janus Henderson Group PLC grew its position in shares of Wave Life Sciences by 16.1% in the 2nd quarter. Janus Henderson Group PLC now owns 3,392,298 shares of the company’s stock valued at $88,505,000 after acquiring an additional 470,402 shares during the period. Redmile Group LLC grew its position in shares of Wave Life Sciences by 26.5% in the 1st quarter. Redmile Group LLC now owns 2,831,507 shares of the company’s stock valued at $110,004,000 after acquiring an additional 593,900 shares during the period. Spark Investment Management LLC grew its position in shares of Wave Life Sciences by 64.9% in the 1st quarter. Spark Investment Management LLC now owns 270,100 shares of the company’s stock valued at $10,493,000 after acquiring an additional 106,300 shares during the period. Marshall Wace North America L.P. bought a new position in shares of Wave Life Sciences in the 1st quarter valued at about $8,560,000. Finally, Geode Capital Management LLC grew its position in shares of Wave Life Sciences by 8.8% in the 4th quarter. Geode Capital Management LLC now owns 193,595 shares of the company’s stock valued at $8,138,000 after acquiring an additional 15,664 shares during the period. 85.77% of the stock is owned by institutional investors.

Wave Life Sciences Company Profile

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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