Q3 2024 EPS Estimates for Wave Life Sciences Ltd. (NASDAQ:WVE) Boosted by B. Riley

Wave Life Sciences Ltd. (NASDAQ:WVE) – Research analysts at B. Riley lifted their Q3 2024 earnings estimates for Wave Life Sciences in a report released on Thursday, October 3rd. B. Riley analyst M. El-Saadi now forecasts that the company will post earnings per share of ($0.34) for the quarter, up from their previous estimate of ($0.41). B. Riley currently has a “Buy” rating and a $19.00 price target on the stock. The consensus estimate for Wave Life Sciences’ current full-year earnings is ($1.02) per share. B. Riley also issued estimates for Wave Life Sciences’ Q4 2024 earnings at ($0.14) EPS, FY2024 earnings at ($0.97) EPS, FY2025 earnings at ($0.83) EPS, FY2026 earnings at ($0.75) EPS, FY2027 earnings at ($0.10) EPS and FY2028 earnings at $0.20 EPS.

Wave Life Sciences (NASDAQ:WVE) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.09). The company had revenue of $19.69 million during the quarter, compared to analyst estimates of $24.80 million. Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 1,395.99%. During the same quarter last year, the business earned ($0.20) EPS.

WVE has been the topic of a number of other reports. JPMorgan Chase & Co. began coverage on Wave Life Sciences in a report on Friday, September 27th. They issued an “overweight” rating and a $13.00 price objective on the stock. Royal Bank of Canada lifted their price target on shares of Wave Life Sciences from $5.00 to $7.00 and gave the company a “sector perform” rating in a research report on Friday, October 4th. HC Wainwright boosted their price objective on shares of Wave Life Sciences from $15.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Finally, Mizuho reissued an “outperform” rating and issued a $19.00 target price on shares of Wave Life Sciences in a research note on Tuesday, June 25th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.00.

Wave Life Sciences Trading Down 0.5 %

Shares of Wave Life Sciences stock opened at $8.00 on Monday. The business’s fifty day moving average price is $6.30 and its 200 day moving average price is $5.95. Wave Life Sciences has a twelve month low of $3.50 and a twelve month high of $9.92. The stock has a market capitalization of $979.80 million, a P/E ratio of -15.38 and a beta of -1.10.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Ameritas Investment Partners Inc. raised its holdings in shares of Wave Life Sciences by 50.2% during the first quarter. Ameritas Investment Partners Inc. now owns 7,334 shares of the company’s stock worth $45,000 after purchasing an additional 2,451 shares during the period. Profund Advisors LLC acquired a new stake in Wave Life Sciences during the second quarter worth about $53,000. Principal Financial Group Inc. bought a new position in Wave Life Sciences in the second quarter worth about $74,000. Mackenzie Financial Corp boosted its stake in Wave Life Sciences by 13.6% in the second quarter. Mackenzie Financial Corp now owns 15,887 shares of the company’s stock valued at $79,000 after acquiring an additional 1,905 shares during the period. Finally, Hsbc Holdings PLC bought a new position in shares of Wave Life Sciences during the second quarter valued at approximately $104,000. Institutional investors own 89.73% of the company’s stock.

Insider Activity

In other news, CEO Paul Bolno sold 48,366 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $5.78, for a total transaction of $279,555.48. Following the completion of the sale, the chief executive officer now directly owns 359,059 shares in the company, valued at $2,075,361.02. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Paul Bolno sold 48,366 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $5.78, for a total transaction of $279,555.48. Following the completion of the transaction, the chief executive officer now directly owns 359,059 shares in the company, valued at approximately $2,075,361.02. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kyle Moran sold 17,146 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $9.00, for a total transaction of $154,314.00. Following the sale, the chief financial officer now directly owns 19,777 shares of the company’s stock, valued at $177,993. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 29.10% of the company’s stock.

Wave Life Sciences Company Profile

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.