WAVE Life Sciences (NASDAQ:WVE) Upgraded to Strong-Buy at Zacks Research

WAVE Life Sciences (NASDAQ:WVE) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports.

A number of other research firms also recently commented on WVE. HC Wainwright reiterated a “buy” rating on shares of WAVE Life Sciences in a research report on Thursday, June 11th. Canaccord Genuity Group reduced their price target on shares of WAVE Life Sciences from $52.00 to $43.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of WAVE Life Sciences in a research note on Friday, July 17th. Bank of America lowered their price objective on shares of WAVE Life Sciences from $38.00 to $21.00 and set a “buy” rating for the company in a research report on Friday, March 27th. Finally, Wall Street Zen raised shares of WAVE Life Sciences from a “strong sell” rating to a “hold” rating in a research note on Saturday, May 2nd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $26.41.

WAVE Life Sciences Trading Down 0.9%

Shares of WVE stock opened at $5.74 on Tuesday. WAVE Life Sciences has a 12-month low of $5.02 and a 12-month high of $21.73. The stock’s 50-day moving average price is $6.07 and its 200-day moving average price is $9.39. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of -5.42 and a beta of -1.29.

WAVE Life Sciences (NASDAQ:WVE) last posted its earnings results on Wednesday, April 29th. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.21. WAVE Life Sciences had a negative return on equity of 56.76% and a negative net margin of 255.70%.The company had revenue of $38.25 million for the quarter, compared to the consensus estimate of $8.45 million. As a group, research analysts predict that WAVE Life Sciences will post -1.1 EPS for the current fiscal year.

Hedge Funds Weigh In On WAVE Life Sciences

A number of large investors have recently bought and sold shares of WVE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in WAVE Life Sciences by 9.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,349 shares of the company’s stock valued at $463,000 after acquiring an additional 4,957 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in WAVE Life Sciences by 3.8% in the first quarter. Goldman Sachs Group Inc. now owns 557,644 shares of the company’s stock worth $4,506,000 after purchasing an additional 20,624 shares during the period. Rhumbline Advisers lifted its position in shares of WAVE Life Sciences by 22.5% during the second quarter. Rhumbline Advisers now owns 162,599 shares of the company’s stock worth $1,057,000 after purchasing an additional 29,899 shares during the last quarter. Prudential Financial Inc. bought a new stake in shares of WAVE Life Sciences during the second quarter worth $80,000. Finally, Norges Bank purchased a new stake in shares of WAVE Life Sciences during the second quarter valued at $650,000. Hedge funds and other institutional investors own 89.73% of the company’s stock.

WAVE Life Sciences Company Profile

WAVE Life Sciences is a clinical-stage genetic medicines company focused on the discovery and development of stereopure oligonucleotide therapies designed to address serious diseases with high unmet medical need. Leveraging proprietary chemistry and precision synthesis, WAVE engineers drug candidates with defined stereochemistry to optimize potency, safety and manufacturability. This approach aims to enhance target specificity and improve therapeutic profiles compared with traditional oligonucleotide medicines.

The company’s pipeline includes programs in neuromuscular disorders such as Duchenne muscular dystrophy and neurodegenerative conditions including Huntington’s disease, as well as early-stage cardiovascular and liver indications.