Wave Life Sciences (WVE), a biopharmaceutical company, reported a loss in its quarterly earnings for the period ending in December 2022. The company reported a loss of $0.47 per share, which is worse than the Zacks Consensus Estimate of a loss of $0.42. The company has only surpassed the consensus EPS estimate once in the last four quarters. The company’s quarterly revenues for the period ending in December 2022 stood at $1.24 million, which is a significant decrease from the previous year’s $1.77 million. The company missed the Zacks Consensus Estimate for revenues by 47.21% and has not been able to beat consensus revenue estimates in the last four quarters. However, the estimate revisions trend for Wave Life Sciences is favorable. The company has a Zacks Rank #2 (Buy), indicating that the shares are expected to outperform the market in the near future. Investors should note that the outlook for the industry can also impact the stock’s performance. The Medical – Biomedical and Genetics industry, to which Wave Life Sciences belongs, is currently in the top 38% of the 250 plus Zacks industries. Y-mAbs Therapeutics, Inc. (YMAB), another stock in the same industry, is expected to post a quarterly loss of $0.46 per share in its upcoming report, which represents a year-over-year change of +45.9%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Wave Life Sciences (WVE), a biopharmaceutical company, has reported a loss in its quarterly earnings for the period ending in December 2022. The company reported a loss of $0.47 per share, which is worse than the Zacks Consensus Estimate of a loss of $0.42. This figure, however, is an improvement from a loss of $0.61 per share in the previous year.
The quarterly report of Wave Life Sciences revealed a negative earnings surprise of -11.90%. The company has only surpassed the consensus EPS estimate once in the last four quarters. The company’s quarterly revenues for the period ending in December 2022 stood at $1.24 million, which is a significant decrease from the previous year’s $1.77 million. The company missed the Zacks Consensus Estimate for revenues by 47.21% and has not been able to beat consensus revenue estimates in the last four quarters.
Wave Life Sciences’ performance and future outlook will depend on management’s commentary during the earnings call. The company’s shares have decreased by 39.4% since the start of the year, compared to the S&P 500’s gain of 4.3%.
Investors may wonder about the company’s future and can track the earnings outlook, which includes current consensus earnings expectations for the coming quarter(s) and how these expectations have changed lately. The Zacks Rank is a useful tool for investors as it has a proven track record of using earnings estimate revisions to predict near-term stock movements.
Wave Life Sciences (WVE) has shown a favorable trend in estimate revisions ahead of its earnings release. Although the direction and magnitude of the estimate revisions may change following the company’s earnings report, the current trend has resulted in a Zacks Rank #2 (Buy) for the stock. The shares are expected to outperform the market in the near future. The current consensus EPS estimate for the coming quarter is -$0.34, with revenues of $8 million, while for the current fiscal year, the consensus EPS estimate is -$1.35, with revenues of $19.03 million.
Investors should note that the outlook for the industry can also impact the stock’s performance. The Medical – Biomedical and Genetics industry, to which Wave Life Sciences belongs, is currently in the top 38% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by more than 2 to 1.
Y-mAbs Therapeutics, Inc. (YMAB), another stock in the same industry, is expected to post a quarterly loss of $0.46 per share in its upcoming report, which represents a year-over-year change of +45.9%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Y-mAbs Therapeutics’ revenues are expected to be $20.85 million, up 117.2% from the year-ago quarter.
Investors can check out the list of Zacks #1 Rank (Strong Buy) stocks for today, including Wave Life Sciences, here. Zacks experts have handpicked these 5 stocks as their top picks to gain +100% or more in 2021. The previous recommendations have soared +143.0%, +175.9%, +498.3%, and +673.0%, making these stocks great opportunities to get in on the ground floor.
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