Jefferies Financial Group Equities Analysts Cut Earnings Estimates for Sage Therapeutics, Inc. (NASDAQ:SAGE)

Sage Therapeutics, Inc. (NASDAQ:SAGEGet Rating) – Analysts at Jefferies Financial Group dropped their Q2 2022 earnings estimates for Sage Therapeutics in a research report issued on Wednesday, June 1st. Jefferies Financial Group analyst A. Tewari now anticipates that the biopharmaceutical company will post earnings per share of ($1.96) for the quarter, down from their previous estimate of ($0.78). Jefferies Financial Group also issued estimates for Sage Therapeutics’ Q3 2022 earnings at ($2.01) EPS, Q4 2022 earnings at ($2.13) EPS, FY2022 earnings at ($8.20) EPS, FY2023 earnings at ($6.14) EPS, FY2024 earnings at ($3.60) EPS and FY2025 earnings at ($0.44) EPS.

Sage Therapeutics (NASDAQ:SAGEGet Rating) last posted its quarterly earnings results on Tuesday, May 3rd. The biopharmaceutical company reported ($2.07) EPS for the quarter, missing analysts’ consensus estimates of ($2.06) by ($0.01). Sage Therapeutics had a negative return on equity of 27.23% and a negative net margin of 7,676.91%. The company had revenue of $1.58 million during the quarter, compared to the consensus estimate of $3.23 million. During the same period in the previous year, the business earned ($1.64) earnings per share. Sage Therapeutics’s revenue was down .1% on a year-over-year basis.

A number of other equities analysts have also commented on SAGE. StockNews.com assumed coverage on Sage Therapeutics in a report on Thursday, March 31st. They issued a “sell” rating for the company. SVB Leerink cut their price target on Sage Therapeutics from $60.00 to $50.00 and set a “market perform” rating for the company in a report on Friday, February 25th. Berenberg Bank started coverage on Sage Therapeutics in a research note on Thursday, March 31st. They set a “hold” rating and a $37.00 price objective for the company. Truist Financial dropped their price objective on Sage Therapeutics from $60.00 to $40.00 and set a “hold” rating for the company in a research note on Wednesday, March 9th. Finally, The Goldman Sachs Group dropped their price objective on Sage Therapeutics from $85.00 to $73.00 and set a “buy” rating for the company in a research note on Tuesday, May 24th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Sage Therapeutics has an average rating of “Hold” and a consensus target price of $60.32.

Sage Therapeutics stock opened at $36.93 on Monday. Sage Therapeutics has a one year low of $27.36 and a one year high of $79.45. The business has a fifty day moving average price of $33.32 and a 200-day moving average price of $36.76. The firm has a market capitalization of $2.18 billion, a P/E ratio of -4.49 and a beta of 1.57.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC purchased a new position in shares of Sage Therapeutics in the first quarter worth about $28,000. Metropolitan Life Insurance Co NY purchased a new position in Sage Therapeutics during the 4th quarter valued at about $44,000. MetLife Investment Management LLC purchased a new position in Sage Therapeutics during the 1st quarter valued at about $34,000. US Bancorp DE increased its holdings in Sage Therapeutics by 19.7% during the 3rd quarter. US Bancorp DE now owns 1,885 shares of the biopharmaceutical company’s stock valued at $84,000 after purchasing an additional 310 shares during the period. Finally, Macquarie Group Ltd. increased its holdings in Sage Therapeutics by 100.4% during the 3rd quarter. Macquarie Group Ltd. now owns 3,363 shares of the biopharmaceutical company’s stock valued at $149,000 after purchasing an additional 1,685 shares during the period. Hedge funds and other institutional investors own 84.40% of the company’s stock.

In related news, Director George Golumbeski acquired 8,000 shares of the firm’s stock in a transaction dated Thursday, May 5th. The shares were purchased at an average price of $31.45 per share, for a total transaction of $251,600.00. Following the completion of the acquisition, the director now owns 8,000 shares in the company, valued at $251,600. The purchase was disclosed in a filing with the SEC, which is available at this link. 4.70% of the stock is currently owned by insiders.

About Sage Therapeutics (Get Rating)

Sage Therapeutics, Inc, a biopharmaceutical company, develops and commercializes medicines to treat central nervous system disorders. Its lead product candidate is ZULRESSO, an intravenous formulation of brexanolone for the treatment of postpartum depression (PPD) in adults. The company's product pipeline also includes zuranolone, a neuroactive steroid, which is in Phase III clinical trials for treating PPD, major depressive disorders, treatment resistant disorders, generalized anxiety disorders, and bipolar depression; and SAGE-324, a compound that is in Phase II clinical trial to treat essential tremors, as well as has completed Phase I clinical trial for epilepsy and Parkinson's diseases.

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Earnings History and Estimates for Sage Therapeutics (NASDAQ:SAGE)

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