Leerink Partnrs Has Strong Estimate for WVE FY2027 Earnings

Key Points

• Leerink Partners has raised its FY2027 earnings per share estimate for WAVE Life Sciences Ltd. from ($0.33) to ($0.28), indicating a more optimistic outlook for the company's financial performance.
• WAVE Life Sciences recently reported a quarterly EPS of ($0.31), missing estimates by ($0.02), alongside revenue of $8.70 million which was below expectations of $11.52 million.
• Despite some fluctuations in price targets by various brokerages, the consensus maintains a "Moderate Buy" rating for the company's stock, with an average target price of $20.07.

WAVE Life Sciences Ltd. (NASDAQ:WVE - Free Report) - Investment analysts at Leerink Partnrs increased their FY2027 earnings per share (EPS) estimates for WAVE Life Sciences in a report issued on Wednesday, September 3rd. Leerink Partnrs analyst J. Schwartz now forecasts that the company will post earnings per share of ($0.28) for the year, up from their prior forecast of ($0.33). The consensus estimate for WAVE Life Sciences' current full-year earnings is ($1.14) per share.

WAVE Life Sciences (NASDAQ:WVE - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported ($0.31) earnings per share for the quarter, missing analysts' consensus estimates of ($0.29) by ($0.02). The company had revenue of $8.70 million during the quarter, compared to analyst estimates of $11.52 million.

A number of other equities research analysts also recently weighed in on the company. Oppenheimer began coverage on WAVE Life Sciences in a report on Monday, July 28th. They set an "outperform" rating and a $24.00 price objective on the stock. Wedbush reaffirmed an "outperform" rating and set a $18.00 price objective on shares of WAVE Life Sciences in a report on Monday, June 23rd. HC Wainwright reaffirmed a "buy" rating and set a $22.00 price objective on shares of WAVE Life Sciences in a report on Wednesday, September 3rd. Leerink Partners set a $26.00 target price on shares of WAVE Life Sciences in a research note on Wednesday, September 3rd. Finally, Wells Fargo & Company cut their target price on shares of WAVE Life Sciences from $21.00 to $18.00 and set an "overweight" rating for the company in a research note on Thursday, September 4th. Fourteen investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $20.33.

WAVE Life Sciences Stock Performance

NASDAQ WVE traded down $0.19 during trading on Monday, reaching $6.97. 1,852,322 shares of the company traded hands, compared to its average volume of 2,292,789. The stock's 50 day moving average price is $8.49 and its two-hundred day moving average price is $7.80. The company has a market cap of $1.11 billion, a price-to-earnings ratio of -7.74 and a beta of -1.15. WAVE Life Sciences has a 1-year low of $5.28 and a 1-year high of $16.74.

Institutional Trading of WAVE Life Sciences

Several institutional investors and hedge funds have recently made changes to their positions in the business. Adage Capital Partners GP L.L.C. raised its position in shares of WAVE Life Sciences by 20.0% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 15,016,500 shares of the company's stock valued at $97,607,000 after acquiring an additional 2,500,000 shares during the last quarter. 683 Capital Management LLC raised its position in shares of WAVE Life Sciences by 4.5% during the 2nd quarter. 683 Capital Management LLC now owns 4,100,000 shares of the company's stock valued at $26,650,000 after acquiring an additional 175,000 shares during the last quarter. Loomis Sayles & Co. L P grew its holdings in shares of WAVE Life Sciences by 35.3% in the 2nd quarter. Loomis Sayles & Co. L P now owns 3,295,700 shares of the company's stock valued at $21,422,000 after buying an additional 859,160 shares during the period. Emerald Advisers LLC grew its holdings in shares of WAVE Life Sciences by 3.9% in the 2nd quarter. Emerald Advisers LLC now owns 3,257,119 shares of the company's stock valued at $21,171,000 after buying an additional 123,561 shares during the period. Finally, Vanguard Group Inc. grew its holdings in shares of WAVE Life Sciences by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 3,206,403 shares of the company's stock valued at $25,908,000 after buying an additional 23,891 shares during the period. Institutional investors own 89.73% of the company's stock.

Insider Activity at WAVE Life Sciences

In related news, Director Ken Takanashi sold 4,872 shares of the business's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $8.75, for a total value of $42,630.00. Following the completion of the transaction, the director owned 5,716,303 shares in the company, valued at $50,017,651.25. The trade was a 0.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gregory L. Verdine sold 10,000 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $10.00, for a total transaction of $100,000.00. Following the completion of the transaction, the director owned 285,217 shares of the company's stock, valued at $2,852,170. This trade represents a 3.39% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 241,893 shares of company stock worth $2,423,068. Company insiders own 23.98% of the company's stock.

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.