Brokerages Set Wave Life Sciences Ltd. (NASDAQ:WVE) Price Target at $13.17

Shares of Wave Life Sciences Ltd. (NASDAQ:WVE) have received an average recommendation of “Moderate Buy” from the seven research firms that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $13.17.

A number of research analysts have recently issued reports on the company. Wells Fargo & Company started coverage on Wave Life Sciences in a research report on Wednesday, May 15th. They set an “overweight” rating and a $11.00 target price on the stock. StockNews.com lowered shares of Wave Life Sciences from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. HC Wainwright reissued a “buy” rating and set a $15.00 target price on shares of Wave Life Sciences in a research note on Wednesday, June 26th. Finally, Mizuho reaffirmed an “outperform” rating and issued a $19.00 price target on shares of Wave Life Sciences in a research note on Tuesday, June 25th.

Institutional Trading of Wave Life Sciences

Hedge funds and other institutional investors have recently modified their holdings of the stock. Driehaus Capital Management LLC grew its stake in shares of Wave Life Sciences by 62.2% in the 2nd quarter. Driehaus Capital Management LLC now owns 908,096 shares of the company’s stock valued at $4,531,000 after buying an additional 348,300 shares during the period. Mackenzie Financial Corp grew its position in Wave Life Sciences by 13.6% in the second quarter. Mackenzie Financial Corp now owns 15,887 shares of the company’s stock worth $79,000 after acquiring an additional 1,905 shares during the period. The Manufacturers Life Insurance Company increased its stake in Wave Life Sciences by 3.6% during the second quarter. The Manufacturers Life Insurance Company now owns 139,790 shares of the company’s stock worth $698,000 after acquiring an additional 4,914 shares during the last quarter. Millennium Management LLC raised its position in Wave Life Sciences by 1.8% in the second quarter. Millennium Management LLC now owns 1,664,300 shares of the company’s stock valued at $8,305,000 after purchasing an additional 28,690 shares during the period. Finally, AQR Capital Management LLC lifted its stake in shares of Wave Life Sciences by 26.3% in the 2nd quarter. AQR Capital Management LLC now owns 33,529 shares of the company’s stock valued at $167,000 after purchasing an additional 6,973 shares during the last quarter. 89.73% of the stock is owned by institutional investors and hedge funds.

Wave Life Sciences Price Performance

NASDAQ WVE opened at $5.85 on Thursday. The company has a market capitalization of $716.48 million, a PE ratio of -11.25 and a beta of -1.12. The company has a fifty day moving average of $5.73 and a 200 day moving average of $5.59. Wave Life Sciences has a 1 year low of $3.50 and a 1 year high of $7.67.

Wave Life Sciences (NASDAQ:WVE) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.09). The firm had revenue of $19.69 million for the quarter, compared to analysts’ expectations of $24.80 million. Wave Life Sciences had a negative return on equity of 1,395.99% and a negative net margin of 66.50%. During the same period last year, the company posted ($0.20) earnings per share. Research analysts expect that Wave Life Sciences will post -1.05 earnings per share for the current year.

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.