WAVE Life Sciences Ltd. (WVE) garners “strong buy” rating from brokerages

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Wave Life Sciences

In what can be pegged as a major boost for WAVE Life Sciences Ltd. (NASDAQ:WVE), the company has received ‘strong buy’ rating from brokers.

According to a research report by Zacks Investment Research, WAVE Life Sciences Ltd. (NASDAQ:WVE) has received the rating from four brokers that provide coverage for the stock. The one year consensus price target for the stocks of WVE stand at $42.00 with possibility that the company will be posting a ($0.69) EPS for the current quarter. As far as ranking of WAVE Life Sciences Ltd. (NASDAQ:WVE) is concerned, Zacks has given the company an industry rank of 100 out of 265.

Leerink Swann has tagged WAVE Life Sciences Ltd. (NASDAQ:WVE) with an “outperform” rating and set a $45.00 target price on shares of the company. JMP Securities reiterated a “buy” rating on the company’s shares. Jefferies Group LLC lifted their target price on WAVE Life Sciences from $28.00 to $42.00 and gave the company a “buy” rating in a research report. HC Wainwright set a “buy” rating and a $41.00 target price on the stock.

However, Zacks Investment Research downgraded WAVE Life Sciences from a “hold” rating to a “sell” rating.

WAVE Life Sciences has seen institutional investor movement as well with Wells Fargo & Company MN buying a new position during the third quarter valued at $136,000. Strs Ohio also bought itself a a new position in WAVE Life Sciences during the third quarter valued at $194,000. Lesa Sroufe & Co bought a new position in WAVE Life Sciences during the third quarter valued at $209,000. Deschutes Portfolio Strategy LLC bought a new position in WAVE Life Sciences during the third quarter valued at $334,000. Finally, Renaissance Technologies LLC bought a new position in WAVE Life Sciences during the fourth quarter valued at $403,000. Institutional investors own 59.83% of the company’s stock.

WAVE Life Sciences (NASDAQ:WVE) opened at 30.00 on Tuesday. The stock has a 50 day moving average price of $28.30 and a 200-day moving average price of $29.07. WAVE Life Sciences has a 12-month low of $11.99 and a 12-month high of $40.15. The stock’s market capitalization is $704.25 million.

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