H.C. Wainwright analyst Debjit Chattopadhyay maintained a Buy rating on Wave Life Sciences (WVE – Research Report) today and set a price target of $33.00. The company’s shares closed last Monday at $16.79, close to its 52-week low of $16.78.
According to TipRanks.com, Chattopadhyay is a 5-star analyst with an average return of 8.9% and a 47.2% success rate. Chattopadhyay covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Audentes Therapeutics, and Precision BioSciences.
Currently, the analyst consensus on Wave Life Sciences is a Moderate Buy with an average price target of $39.00, representing an 117.3% upside. In a report released yesterday, Mizuho Securities also assigned a Buy rating to the stock with a $65.00 price target.
Based on Wave Life Sciences’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $50.73 million. In comparison, last year the company had a GAAP net loss of $37.63 million.
Based on the recent corporate insider activity of 17 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling 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.