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

Wave Life Sciences (NASDAQ:WVE) released its quarterly earnings data on Tuesday. The company reported $0.17 EPS for the quarter, beating the consensus estimate 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 Performance

Shares of Wave Life Sciences stock opened at $10.76 on Tuesday. Wave Life Sciences has a fifty-two week low of $4.25 and a fifty-two week high of $16.74. The company has a fifty day moving average of $11.68 and a 200 day moving average of $11.15. The company has a market capitalization of $1.64 billion, a P/E ratio of -9.69 and a beta of -1.09.

Analyst Upgrades and Downgrades

A number of analysts have commented on WVE shares. StockNews.com upgraded shares of Wave Life Sciences from a “sell” rating to a “hold” rating in a research note on Thursday, February 27th. Mizuho boosted their target price on shares of Wave Life Sciences from $19.00 to $22.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. HC Wainwright reissued a “buy” rating and set a $22.00 price objective on shares of Wave Life Sciences in a report on Wednesday, November 13th. B. Riley increased their target price on shares of Wave Life Sciences from $19.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Finally, Truist Financial raised their target price on Wave Life Sciences from $17.00 to $36.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Two 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 stock. According to data from MarketBeat.com, the company has a consensus 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.