Wave Life Sciences (WVE) Receives a Buy from H.C. Wainwright

By Ryan Adsit

H.C. Wainwright analyst Debjit Chattopadhyay maintained a Buy rating on Wave Life Sciences (WVEResearch Report) today and set a price target of $20.00. The company’s shares closed last Monday at $8.02, close to its 52-week low of $7.78.

According to TipRanks.com, Chattopadhyay is a 5-star analyst with an average return of 9.9% and a 50.6% success rate. Chattopadhyay covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Audentes Therapeutics, and Precision BioSciences.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Wave Life Sciences with a $29.60 average price target, implying a 275.2% upside from current levels. In a report issued on December 30, Mizuho Securities also assigned a Buy rating to the stock with a $65.00 price target.

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The company has a one-year high of $48.64 and a one-year low of $7.78. Currently, Wave Life Sciences has an average volume of 620.3K.

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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.