HC Wainwright set a $49.00 target price on Wave Life Sciences (NASDAQ:WVE) in a report issued on Friday. The brokerage currently has a buy rating on the stock.

A number of other brokerages have also weighed in on WVE. BidaskClub raised Wave Life Sciences from a hold rating to a buy rating in a research report on Wednesday, May 30th. Mizuho set a $65.00 target price on Wave Life Sciences and gave the stock a buy rating in a research report on Thursday, August 9th. Stifel Nicolaus initiated coverage on Wave Life Sciences in a research report on Monday, August 6th. They issued a buy rating and a $56.00 target price for the company. ValuEngine raised Wave Life Sciences from a sell rating to a hold rating in a research report on Thursday, April 12th. Finally, TheStreet lowered Wave Life Sciences from a c- rating to a d+ rating in a research report on Thursday, May 31st. One research analyst has rated the stock with a sell rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. Wave Life Sciences currently has an average rating of Buy and a consensus price target of $58.40.

WVE opened at $46.70 on Friday. The company has a quick ratio of 7.24, a current ratio of 7.24 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $1.29 billion, a PE ratio of -12.10 and a beta of 0.69. Wave Life Sciences has a 1 year low of $16.05 and a 1 year high of $55.95.

Wave Life Sciences (NASDAQ:WVE) last posted its quarterly earnings results on Thursday, August 9th. The company reported ($1.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.88). Wave Life Sciences had a negative return on equity of 92.00% and a negative net margin of 1,473.26%. The company had revenue of $4.88 million during the quarter, compared to analysts’ expectations of $7.38 million. sell-side analysts forecast that Wave Life Sciences will post -4.62 earnings per share for the current fiscal year.

In other news, insider Chris Francis sold 24,496 shares of the company’s stock in a transaction dated Monday, July 9th. The shares were sold at an average price of $37.27, for a total transaction of $912,965.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul Bolno sold 31,711 shares of the company’s stock in a transaction dated Wednesday, May 30th. The shares were sold at an average price of $45.00, for a total transaction of $1,426,995.00. The disclosure for this sale can be found here. In the last three months, insiders sold 105,199 shares of company stock valued at $4,630,337. 44.20% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WVE. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Wave Life Sciences during the 1st quarter valued at about $120,000. California Public Employees Retirement System purchased a new stake in shares of Wave Life Sciences during the 1st quarter valued at about $219,000. Goldman Sachs Group Inc. purchased a new stake in shares of Wave Life Sciences during the 4th quarter valued at about $222,000. Millennium Management LLC purchased a new stake in shares of Wave Life Sciences during the 1st quarter valued at about $330,000. Finally, State Board of Administration of Florida Retirement System purchased a new stake in shares of Wave Life Sciences during the 2nd quarter valued at about $334,000. 81.84% of the stock is owned by hedge funds and other 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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Analyst Recommendations for Wave Life Sciences (NASDAQ:WVE)

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