WAVE Life Sciences (NASDAQ:WVE) Upgraded at Zacks Research

Zacks Research upgraded shares of WAVE Life Sciences (NASDAQ:WVE) from a hold rating to a strong-buy rating in a research report sent to investors on Tuesday morning,Zacks.com reports.

A number of other analysts also recently weighed in on WVE. HC Wainwright restated a “buy” rating on shares of WAVE Life Sciences in a research note on Thursday, June 11th. Canaccord Genuity Group reduced their target price on WAVE Life Sciences from $52.00 to $43.00 and set a “buy” rating for the company in a report on Thursday, April 30th. New Street Research set a $13.00 target price on shares of WAVE Life Sciences in a research report on Thursday, June 11th. Wells Fargo & Company boosted their target price on shares of WAVE Life Sciences from $13.00 to $14.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 20th. Finally, Wall Street Zen raised shares of WAVE Life Sciences from a “strong sell” rating to a “hold” rating in a research note on Saturday, May 2nd. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $26.41.

WAVE Life Sciences Stock Up 0.7%

NASDAQ WVE opened at $5.78 on Tuesday. The stock has a market capitalization of $1.11 billion, a P/E ratio of -5.45 and a beta of -1.29. WAVE Life Sciences has a 52-week low of $5.02 and a 52-week high of $21.73. The firm has a 50-day moving average price of $6.05 and a 200 day moving average price of $9.32.

WAVE Life Sciences (NASDAQ:WVE) last announced its quarterly earnings data on Wednesday, April 29th. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.21. WAVE Life Sciences had a negative return on equity of 56.76% and a negative net margin of 255.70%.The company had revenue of $38.25 million for the quarter, compared to analyst estimates of $8.45 million. On average, equities research analysts expect that WAVE Life Sciences will post -1.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On WAVE Life Sciences

Several hedge funds and other institutional investors have recently bought and sold shares of WVE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in WAVE Life Sciences by 9.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,349 shares of the company’s stock valued at $463,000 after purchasing an additional 4,957 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of WAVE Life Sciences by 3.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 557,644 shares of the company’s stock worth $4,506,000 after buying an additional 20,624 shares during the last quarter. Rhumbline Advisers raised its stake in shares of WAVE Life Sciences by 22.5% during the 2nd quarter. Rhumbline Advisers now owns 162,599 shares of the company’s stock worth $1,057,000 after buying an additional 29,899 shares during the last quarter. Prudential Financial Inc. purchased a new stake in shares of WAVE Life Sciences in the 2nd quarter worth about $80,000. Finally, Norges Bank purchased a new stake in shares of WAVE Life Sciences in the 2nd quarter worth about $650,000. 89.73% of the stock is owned by institutional investors and hedge funds.

About WAVE Life Sciences

WAVE Life Sciences is a clinical-stage genetic medicines company focused on the discovery and development of stereopure oligonucleotide therapies designed to address serious diseases with high unmet medical need. Leveraging proprietary chemistry and precision synthesis, WAVE engineers drug candidates with defined stereochemistry to optimize potency, safety and manufacturability. This approach aims to enhance target specificity and improve therapeutic profiles compared with traditional oligonucleotide medicines.

The company’s pipeline includes programs in neuromuscular disorders such as Duchenne muscular dystrophy and neurodegenerative conditions including Huntington’s disease, as well as early-stage cardiovascular and liver indications.