In a report released today, Salim Syed from Mizuho Securities maintained a Buy rating on Wave Life Sciences (WVE), with a price target of $8.00. The company’s shares closed last Wednesday at $6.59, close to its 52-week low of $4.82.
According to TipRanks.com, Syed has 0 stars on 0-5 stars ranking scale with an average return of -8.2% and a 41.6% success rate. Syed covers the Healthcare sector, focusing on stocks such as Atara Biotherapeutics, Assembly Biosciences, and Coherus Biosciences.
Currently, the analyst consensus on Wave Life Sciences is a Moderate Buy with an average price target of $9.33.
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Based on Wave Life Sciences’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $42.46 million. In comparison, last year the company earned revenue of $4.16 million and had a GAAP net loss of $47.49 million.
Based on the recent corporate insider activity of 15 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of WVE in relation to earlier this year.
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Wave Life Sciences Ltd. is a biotechnology company, which engages in the development of proprietary synthetic chemistry drug. It focuses on the design, development, and commercialization of nucleic acid-based therapeutics. The company was founded by Gregory L. Verdine and Takeshi Wada on July 23, 2012 and is headquartered in Singapore.
