Today, Wave Life Sciences Pte. Ltd. (WVE) Receives Consensus Recommendation of “Strong Buy” from Brokerages

Today, Wave Life Sciences Pte. Ltd. (WVE) Receives Consensus Recommendation of “Strong Buy” from Brokerages

Wave Life Sciences Pte. Ltd. (NASDAQ:WVE) has earned a consensus broker rating score of 1.00 (Strong Buy) from the four brokers that provide coverage for the stock, Zacks Investment Research reports. Four analysts have rated the stock with a strong buy rating.

Brokerages have set a 1-year consensus price target of $29.67 for the company and are expecting that the company will post ($0.53) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Wave Life Sciences Pte. an industry rank of 105 out of 265 based on the ratings given to related companies.

A number of analysts have commented on WVE shares. Zacks Investment Research cut shares of Wave Life Sciences Pte. from a “hold” rating to a “sell” rating in a research note on Friday, August 19th. Jefferies Group set a $28.00 target price on shares of Wave Life Sciences Pte. and gave the stock a “buy” rating in a research note on Monday, August 15th. JMP Securities restated a “buy” rating on shares of Wave Life Sciences Pte. in a research note on Tuesday, August 16th. Finally, Leerink Swann restated an “outperform” rating and set a $28.00 target price (up previously from $20.00) on shares of Wave Life Sciences Pte. in a research note on Tuesday, August 16th.

A number of institutional investors have recently added to or reduced their stakes in the company. Perceptive Advisors LLC raised its position in Wave Life Sciences Pte. by 196.9% in the second quarter. Perceptive Advisors LLC now owns 522,595 shares of the company’s stock worth $10,812,000 after buying an additional 346,595 shares in the last quarter. BlackRock Fund Advisors raised its position in Wave Life Sciences Pte. by 11,639.6% in the second quarter. BlackRock Fund Advisors now owns 192,764 shares of the company’s stock worth $3,988,000 after buying an additional 191,122 shares in the last quarter. State Street Corp acquired a new position in Wave Life Sciences Pte. during the second quarter worth approximately $1,752,000. BlackRock Institutional Trust Company N.A. acquired a new position in Wave Life Sciences Pte. during the second quarter worth approximately $1,158,000. Finally, Vident Investment Advisory LLC acquired a new position in Wave Life Sciences Pte. during the second quarter worth approximately $669,000. 60.58% of the stock is currently owned by institutional investors and hedge funds.

Wave Life Sciences Pte. (NASDAQ:WVE) traded up 1.96% during trading on Tuesday, reaching $29.62. 19,806 shares of the company’s stock were exchanged. The firm’s market cap is $694.29 million. Wave Life Sciences Pte. has a 52-week low of $8.95 and a 52-week high of $37.30. The stock’s 50 day moving average price is $28.56 and its 200 day moving average price is $20.45.

Wave Life Sciences Pte. (NASDAQ:WVE) last announced its quarterly earnings results on Monday, August 15th. The company reported ($0.51) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by $0.14. Equities research analysts anticipate that Wave Life Sciences Pte. will post ($2.02) EPS for the current fiscal year.

About Wave Life Sciences Pte.

WAVE Life Sciences Ltd. is a preclinical biopharmaceutical company. The Company focuses on developing its synthetic chemistry platform to develop and commercialize a pipeline of nucleic acid-based therapeutics. It develops nucleic acid therapeutics 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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