Wave Life Sciences (NASDAQ:WVE) Posts Quarterly Earnings Results, Beats Estimates By $0.34 EPS

Wave Life Sciences (NASDAQ:WVE) posted its 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. The firm had revenue of $83.75 million for the quarter, compared to analyst estimates of $25.60 million. Wave Life Sciences had a negative return on equity of 280.57% and a negative net margin of 66.50%.

Wave Life Sciences Stock Performance

Shares of NASDAQ:WVE traded down $0.15 during mid-day trading on Thursday, hitting $10.42. 46,918 shares of the company traded hands, compared to its average volume of 895,488. The firm’s 50 day simple moving average is $11.58 and its 200 day simple moving average is $11.19. Wave Life Sciences has a 52-week low of $4.25 and a 52-week high of $16.74. The firm has a market cap of $1.59 billion, a P/E ratio of -9.37 and a beta of -1.09.

Analysts Set New Price Targets

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

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.