Leerink Partnrs Has Bullish Forecast for WVE FY2024 Earnings

Wave Life Sciences Ltd. (NASDAQ:WVE) – Equities researchers at Leerink Partnrs upped their FY2024 earnings estimates for shares of Wave Life Sciences in a research note issued to investors on Tuesday, November 12th. Leerink Partnrs analyst J. Schwartz now anticipates that the company will post earnings of ($0.86) per share for the year, up from their previous estimate of ($0.87). The consensus estimate for Wave Life Sciences’ current full-year earnings is ($1.06) per share. Leerink Partnrs also issued estimates for Wave Life Sciences’ Q4 2024 earnings at $0.10 EPS, Q1 2025 earnings at ($0.42) EPS, Q2 2025 earnings at ($0.43) EPS, Q3 2025 earnings at ($0.43) EPS, Q4 2025 earnings at ($0.34) EPS, FY2025 earnings at ($1.63) EPS and FY2026 earnings at ($0.92) EPS.

Several other research analysts also recently weighed in on the stock. Leerink Partners boosted their target price on shares of Wave Life Sciences from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Raymond James upgraded Wave Life Sciences from an “outperform” rating to a “strong-buy” rating and upped their price target for the stock from $13.00 to $22.00 in a report on Wednesday, October 16th. Wells Fargo & Company increased their target price on Wave Life Sciences from $11.00 to $22.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. raised their price objective on Wave Life Sciences from $13.00 to $17.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Finally, Truist Financial increased their target price on Wave Life Sciences from $17.00 to $36.00 and gave the stock a “buy” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, one has issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $21.89.

Wave Life Sciences Trading Down 8.9 %

Shares of WVE stock opened at $13.67 on Friday. The firm has a 50-day moving average price of $10.76 and a 200 day moving average price of $7.52. Wave Life Sciences has a twelve month low of $3.50 and a twelve month high of $16.74. The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of -12.32 and a beta of -1.20.

Wave Life Sciences (NASDAQ:WVE) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.19). Wave Life Sciences had a negative return on equity of 280.57% and a negative net margin of 66.50%. The business had revenue of ($7.68) million during the quarter, compared to analysts’ expectations of $15.45 million.

Insiders Place Their Bets

In related news, insider Chris Francis sold 36,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $16.00, for a total value of $576,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kyle Moran sold 17,146 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $9.00, for a total value of $154,314.00. Following the completion of the sale, the chief financial officer now directly owns 19,777 shares in the company, valued at $177,993. This trade represents a 46.44 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 452,056 shares of company stock worth $5,955,438. 29.10% of the stock is currently owned by company insiders.

Institutional Trading of Wave Life Sciences

Institutional investors have recently modified their holdings of the company. Swiss National Bank grew its stake in Wave Life Sciences by 2.7% in the first quarter. Swiss National Bank now owns 156,500 shares of the company’s stock valued at $966,000 after acquiring an additional 4,100 shares during the period. ProShare Advisors LLC grew its stake in Wave Life Sciences by 35.0% in the first quarter. ProShare Advisors LLC now owns 21,764 shares of the company’s stock valued at $134,000 after acquiring an additional 5,648 shares during the period. Vanguard Group Inc. grew its stake in Wave Life Sciences by 39.7% in the first quarter. Vanguard Group Inc. now owns 1,834,090 shares of the company’s stock valued at $11,316,000 after acquiring an additional 521,665 shares during the period. Ameritas Investment Partners Inc. grew its stake in Wave Life Sciences by 50.2% in the first 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. Finally, American International Group Inc. grew its stake in Wave Life Sciences by 23.3% in the first quarter. American International Group Inc. now owns 36,241 shares of the company’s stock valued at $224,000 after acquiring an additional 6,851 shares during the period. Institutional investors and hedge funds own 89.73% of the company’s stock.

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.