Wave Life Sciences (NASDAQ:WVE) Announces Earnings Results

Wave Life Sciences (NASDAQ:WVE) posted its quarterly earnings results on Tuesday. The company reported $0.17 EPS for the quarter, beating the consensus estimate of ($0.17) by $0.34, Zacks reports. Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 280.57%. The company had revenue of $83.75 million for the quarter, compared to analyst estimates of $25.60 million.

Wave Life Sciences Trading Down 7.4 %

Shares of WVE opened at $10.40 on Thursday. Wave Life Sciences has a 12-month low of $4.25 and a 12-month high of $16.74. The stock has a market cap of $1.59 billion, a P/E ratio of -9.27 and a beta of -1.09. The company has a 50-day moving average of $11.58 and a two-hundred day moving average of $11.19.

Analyst Ratings Changes

A number of equities research analysts have recently commented on WVE shares. Truist Financial increased their target price on shares of Wave Life Sciences from $17.00 to $36.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Mizuho raised their price objective on shares of Wave Life Sciences from $19.00 to $22.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. HC Wainwright reaffirmed a “buy” rating and set a $22.00 price target on shares of Wave Life Sciences in a report on Wednesday. Jefferies Financial Group began coverage on Wave Life Sciences in a research report on Tuesday, February 25th. They set a “buy” rating and a $26.00 price target on the stock. Finally, StockNews.com upgraded shares of Wave Life Sciences from a “sell” rating to a “hold” rating in a research report on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.60.

About Wave Life Sciences

Wave Life Sciences Ltd., a clinical-stage biotechnology company, designs, develops, and commercializes ribonucleic acid (RNA) medicines through PRISM, a discovery and drug development platform. The company's RNA medicines platform, PRISM, combines multiple modalities, chemistry innovation, and deep insights into human genetics to deliver scientific breakthroughs that treat both rare and prevalent disorders.