WAVE Life Sciences Ltd. (WVE) Expected to Post Earnings of -$0.90 Per Share
Equities research analysts expect WAVE Life Sciences Ltd. (NASDAQ:WVE) to report ($0.90) earnings per share for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for WAVE Life Sciences’ earnings. The highest EPS estimate is ($0.80) and the lowest is ($1.00). WAVE Life Sciences reported earnings per share of ($0.75) during the same quarter last year, which suggests a negative year over year growth rate of 20%. The company is expected to announce its next quarterly earnings results on Wednesday, November 8th.
On average, analysts expect that WAVE Life Sciences will report full year earnings of ($3.65) per share for the current financial year, with EPS estimates ranging from ($3.94) to ($3.34). For the next financial year, analysts forecast that the business will report earnings of ($3.48) per share, with EPS estimates ranging from ($4.42) to ($2.85). Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that that provide coverage for WAVE Life Sciences.
WAVE Life Sciences (NASDAQ:WVE) last posted its earnings results on Wednesday, August 9th. The company reported ($0.92) EPS for the quarter, missing analysts’ consensus estimates of ($0.78) by $0.14. WAVE Life Sciences had a negative net margin of 3,375.12% and a negative return on equity of 55.19%. The business had revenue of $0.68 million for the quarter, compared to analysts’ expectations of $0.73 million.
Several analysts have recently issued reports on WVE shares. Jefferies Group LLC restated a “buy” rating and set a $42.00 target price on shares of WAVE Life Sciences in a research note on Wednesday, April 26th. JMP Securities restated an “outperform” rating and set a $40.00 target price on shares of WAVE Life Sciences in a research note on Friday, June 9th. ValuEngine downgraded WAVE Life Sciences from a “hold” rating to a “sell” rating in a research note on Friday, June 16th. Finally, Zacks Investment Research downgraded WAVE Life Sciences from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Two equities research analysts have rated the stock with a sell rating and four have given a buy rating to the stock. WAVE Life Sciences currently has a consensus rating of “Hold” and a consensus target price of $41.50.
In related news, insider Michael A. Panzara sold 7,414 shares of the firm’s stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $16.67, for a total transaction of $123,591.38. Following the completion of the sale, the insider now directly owns 15,336 shares of the company’s stock, valued at approximately $255,651.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 53.00% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp raised its position in shares of WAVE Life Sciences by 12.0% in the fourth quarter. State Street Corp now owns 115,167 shares of the company’s stock worth $3,011,000 after buying an additional 12,329 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of WAVE Life Sciences during the fourth quarter worth approximately $403,000. Teachers Advisors LLC raised its position in shares of WAVE Life Sciences by 10.0% in the fourth quarter. Teachers Advisors LLC now owns 13,088 shares of the company’s stock worth $342,000 after buying an additional 1,190 shares during the last quarter. Deschutes Portfolio Strategy LLC raised its position in shares of WAVE Life Sciences by 2.9% in the first quarter. Deschutes Portfolio Strategy LLC now owns 10,628 shares of the company’s stock worth $292,000 after buying an additional 297 shares during the last quarter. Finally, Strs Ohio raised its position in shares of WAVE Life Sciences by 86.7% in the first quarter. Strs Ohio now owns 11,200 shares of the company’s stock worth $308,000 after buying an additional 5,200 shares during the last quarter. Hedge funds and other institutional investors own 57.03% of the company’s stock.
WAVE Life Sciences (NASDAQ WVE) traded up 0.86% during mid-day trading on Wednesday, reaching $17.50. 37,702 shares of the company were exchanged. The stock has a 50-day moving average of $18.55 and a 200 day moving average of $22.90. WAVE Life Sciences has a 1-year low of $15.15 and a 1-year high of $40.15. The firm’s market capitalization is $485.80 million.
About WAVE Life Sciences
WAVE Life Sciences Ltd. is a genetic medicines company. The Company, through its synthetic chemistry drug development platform, designs, develops and commercializes a pipeline of nucleic acid therapeutic candidates for genetically defined diseases. The Company is engaged in 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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