Wave Life Sciences (NASDAQ:WVE) Releases Quarterly Earnings Results

Wave Life Sciences (NASDAQ:WVE) issued its quarterly earnings results on Tuesday. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.34, Zacks reports. The business had revenue of $83.75 million during the quarter, compared to the consensus estimate of $25.60 million. Wave Life Sciences had a negative net margin of 66.50% and a negative return on equity of 280.57%.

Wave Life Sciences Stock Performance

Shares of WVE opened at $10.40 on Thursday. Wave Life Sciences has a 1 year low of $4.25 and a 1 year high of $16.74. The company has a market cap of $1.59 billion, a price-to-earnings ratio of -9.27 and a beta of -1.09. The firm has a fifty day moving average of $11.58 and a 200-day moving average of $11.19.

Wall Street Analysts Forecast Growth

WVE has been the subject of several analyst reports. Mizuho boosted their price target on Wave Life Sciences from $19.00 to $22.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Jefferies Financial Group initiated coverage on shares of Wave Life Sciences in a report on Tuesday, February 25th. They set a “buy” rating and a $26.00 price objective on the stock. StockNews.com raised shares of Wave Life Sciences from a “sell” rating to a “hold” rating in a research report on Thursday, February 27th. Truist Financial raised their price target on shares of Wave Life Sciences from $17.00 to $36.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $22.00 target price on shares of Wave Life Sciences in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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.