Wave Life Sciences (NASDAQ:WVE) Posts Earnings Results, Beats Estimates By $0.35 EPS

Wave Life Sciences (NASDAQ:WVE) announced its quarterly earnings results on Tuesday. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.35, Zacks reports. Wave Life Sciences had a negative return on equity of 280.57% and a negative net margin of 66.50%.

Wave Life Sciences Stock Up 9.0 %

Wave Life Sciences stock opened at $10.96 on Tuesday. Wave Life Sciences has a twelve month low of $4.25 and a twelve month high of $16.74. The company has a market capitalization of $1.67 billion, a P/E ratio of -9.84 and a beta of -1.09. The stock’s 50 day moving average is $11.68 and its 200 day moving average is $11.15.

Analysts Set New Price Targets

Several equities research analysts have recently commented on WVE shares. StockNews.com raised shares of Wave Life Sciences from a “sell” rating to a “hold” rating in a research report on Thursday, February 27th. B. Riley increased their price target on shares of Wave Life Sciences from $19.00 to $22.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Truist Financial lifted their price objective on Wave Life Sciences from $17.00 to $36.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Mizuho increased their target price on Wave Life Sciences from $19.00 to $22.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Finally, Jefferies Financial Group began coverage on 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 issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $22.60.

About Wave Life Sciences

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.