Wave Life Sciences (WVE) Stock Jumps 6.1%: Will It Continue to Soar?

Wave Life Sciences (WVE) shares ended the last trading session 6.1% higher at $10.02. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 8.9% loss over the past four weeks.The stock rallied after the company announced positive data from the phase II FORWARD-53 study, which evaluated its pipeline candidate, WVE-N531, for treating boys with Duchenne muscular dystrophy (DMD) who are amenable to exon 53 skipping. The study achieved all its goals by demonstrating sustained and industry-leading exon skipping, muscle concentrations, and dystrophin restoration through 48 weeks, along with a 61-day tissue half-life that supports monthly dosing of WVE-N531. Treatment with WVE-N531 was safe and well-tolerated.This biopharmaceutical company is expected to post quarterly loss of $0.26 per share in its upcoming report, which represents a year-over-year change of -8.3%. Revenues are expected to be $13.26 million, up 5.8% from the year-ago quarter.While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.For Wave Life Sciences, the consensus EPS estimate for the quarter has been revised 9.8% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on WVE going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Wave Life Sciences belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Agios Pharmaceuticals (AGIO), closed the last trading session 1.2% lower at $30.40. Over the past month, AGIO has returned -12.6%.Agios Pharmaceuticals' consensus EPS estimate for the upcoming report has changed -5.4% over the past month to -$1.79. Compared to the company's year-ago EPS, this represents a change of -23.5%. Agios Pharmaceuticals currently boasts a Zacks Rank of #5 (Strong Sell).Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 256 positions with double- and triple-digit gains in 2024 alone.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report WAVE Life Sciences Ltd. (WVE): Free Stock Analysis Report Agios Pharmaceuticals, Inc. (AGIO): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks