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

Shares of Wave Life Sciences Ltd. (NASDAQ:WVE) have earned a consensus rating of “Moderate Buy” from the seven ratings firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $13.17.

Several equities analysts have commented on the company. Wells Fargo & Company assumed coverage on Wave Life Sciences in a research report on Wednesday, May 15th. They set an “overweight” rating and a $11.00 price objective for the company. Mizuho reaffirmed an “outperform” rating and issued a $19.00 price target on shares of Wave Life Sciences in a research report on Tuesday, June 25th. HC Wainwright reaffirmed a “buy” rating and issued a $15.00 price target on shares of Wave Life Sciences in a research report on Wednesday, June 26th. Truist Financial reaffirmed a “buy” rating and issued a $17.00 price target on shares of Wave Life Sciences in a research report on Monday, April 1st. Finally, StockNews.com downgraded Wave Life Sciences from a “buy” rating to a “hold” rating in a report on Friday, May 10th.

Wave Life Sciences Stock Up 2.4 %

NASDAQ:WVE opened at $6.30 on Friday. The stock has a market cap of $771.56 million, a P/E ratio of -12.12 and a beta of -1.12. The firm’s fifty day simple moving average is $5.82 and its 200 day simple moving average is $5.42. Wave Life Sciences has a twelve month low of $3.50 and a twelve month high of $7.67.

Wave Life Sciences (NASDAQ:WVE) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.06). The business had revenue of $12.54 million during the quarter, compared to analyst estimates of $25.67 million. During the same period in the prior year, the company earned ($0.27) earnings per share. On average, analysts expect that Wave Life Sciences will post -0.85 EPS for the current fiscal year.

Institutional Investors Weigh In On Wave Life Sciences

Large investors have recently made changes to their positions in the company. Ameritas Investment Partners Inc. grew its stake in shares of Wave Life Sciences by 50.2% during the 1st quarter. Ameritas Investment Partners Inc. now owns 7,334 shares of the company’s stock valued at $45,000 after acquiring an additional 2,451 shares during the period. Oxford Asset Management LLP purchased a new position in Wave Life Sciences in the 4th quarter worth approximately $51,000. Tower Research Capital LLC TRC lifted its holdings in Wave Life Sciences by 461.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 11,335 shares of the company’s stock worth $57,000 after purchasing an additional 9,316 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in shares of Wave Life Sciences by 351.7% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 11,456 shares of the company’s stock worth $58,000 after acquiring an additional 8,920 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Wave Life Sciences during the 4th quarter worth approximately $64,000. 89.73% of the stock is currently owned by institutional investors.

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.