Q3 2022 EPS Estimates for Sage Therapeutics, Inc. (NASDAQ:SAGE) Decreased by Analyst

Posted by MarketBeat News on Aug 6th, 2022

Sage Therapeutics, Inc. (NASDAQ:SAGE – Get Rating) – Equities research analysts at Wedbush lowered their Q3 2022 EPS estimates for Sage Therapeutics in a report released on Wednesday, August 3rd. Wedbush analyst L. Chico now expects that the biopharmaceutical company will post earnings of ($2.24) per share for the quarter, down from their prior forecast of ($2.13). The consensus estimate for Sage Therapeutics’ current full-year earnings is ($8.84) per share. Wedbush also issued estimates for Sage Therapeutics’ Q4 2022 earnings at ($2.30) EPS, FY2022 earnings at ($8.73) EPS, Q1 2023 earnings at ($2.30) EPS, Q2 2023 earnings at ($2.29) EPS, Q3 2023 earnings at ($2.23) EPS, Q4 2023 earnings at ($2.20) EPS, FY2023 earnings at ($9.02) EPS, FY2024 earnings at ($8.07) EPS, FY2025 earnings at ($6.22) EPS and FY2026 earnings at ($4.43) EPS.

SAGE has been the topic of a number of other research reports. Mizuho cut their price objective on shares of Sage Therapeutics from $41.00 to $37.00 in a research report on Wednesday, May 4th. Citigroup cut their price target on shares of Sage Therapeutics from $41.00 to $40.00 in a report on Wednesday. The Goldman Sachs Group cut their price target on shares of Sage Therapeutics from $85.00 to $73.00 and set a “buy” rating on the stock in a report on Tuesday, May 24th. Stifel Nicolaus cut their price target on shares of Sage Therapeutics from $58.00 to $56.00 in a report on Tuesday. Finally, SVB Leerink cut their price target on shares of Sage Therapeutics from $50.00 to $40.00 and set a “market perform” rating on the stock in a report on Monday, July 11th. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Sage Therapeutics currently has an average rating of “Hold” and a consensus price target of $54.47.

Sage Therapeutics Stock Up 9.4 %

SAGE stock opened at $41.95 on Friday. Sage Therapeutics has a twelve month low of $27.36 and a twelve month high of $47.75. The stock has a market capitalization of $2.48 billion, a price-to-earnings ratio of -4.92 and a beta of 1.43. The firm’s fifty day simple moving average is $34.75 and its two-hundred day simple moving average is $34.94.

Sage Therapeutics (NASDAQ:SAGE – Get Rating) last posted its quarterly earnings data on Tuesday, August 2nd. The biopharmaceutical company reported ($2.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.12) by ($0.01). Sage Therapeutics had a negative net margin of 8,162.17% and a negative return on equity of 30.10%. The firm had revenue of $1.50 million for the quarter, compared to the consensus estimate of $1.77 million. During the same quarter last year, the firm earned ($1.83) EPS. The company’s revenue was down 8.6% on a year-over-year basis.

Institutional Trading of Sage Therapeutics

Hedge funds have recently modified their holdings of the company. Allspring Global Investments Holdings LLC purchased a new stake in shares of Sage Therapeutics during the fourth quarter valued at about $3,243,000. Barclays PLC lifted its position in shares of Sage Therapeutics by 25.5% during the fourth quarter. Barclays PLC now owns 63,352 shares of the biopharmaceutical company’s stock valued at $2,695,000 after buying an additional 12,885 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Sage Therapeutics by 98.0% during the fourth quarter. Envestnet Asset Management Inc. now owns 22,948 shares of the biopharmaceutical company’s stock valued at $976,000 after acquiring an additional 11,358 shares in the last quarter. Primecap Management Co. CA acquired a new position in shares of Sage Therapeutics during the fourth quarter valued at about $2,727,000. Finally, DekaBank Deutsche Girozentrale increased its holdings in shares of Sage Therapeutics by 2.1% during the first quarter. DekaBank Deutsche Girozentrale now owns 22,220 shares of the biopharmaceutical company’s stock valued at $762,000 after acquiring an additional 450 shares in the last quarter. 84.40% of the stock is owned by hedge funds and other institutional investors.

Sage Therapeutics Company Profile

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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.