SVB Leerink Analysts Cut Earnings Estimates for Sage Therapeutics, Inc. (NASDAQ:SAGE)

Sage Therapeutics, Inc. (NASDAQ:SAGEGet Rating) – Stock analysts at SVB Leerink decreased their Q3 2022 earnings per share (EPS) estimates for shares of Sage Therapeutics in a note issued to investors on Tuesday, August 2nd. SVB Leerink analyst M. Goodman now forecasts that the biopharmaceutical company will post earnings per share of ($2.23) for the quarter, down from their prior forecast of ($2.20). SVB Leerink has a “Market Perform” rating and a $40.00 price objective on the stock. The consensus estimate for Sage Therapeutics’ current full-year earnings is ($8.84) per share. SVB Leerink also issued estimates for Sage Therapeutics’ Q4 2022 earnings at ($2.37) EPS, FY2022 earnings at ($8.80) EPS, FY2023 earnings at ($4.80) EPS, FY2024 earnings at ($4.55) EPS, FY2025 earnings at ($5.40) EPS and FY2026 earnings at ($5.20) EPS.

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

Several other analysts also recently issued reports on the company. The Goldman Sachs Group cut their price target on Sage Therapeutics from $85.00 to $73.00 and set a “buy” rating on the stock in a report on Tuesday, May 24th. Citigroup cut their price target on Sage Therapeutics from $41.00 to $40.00 in a report on Wednesday. Stifel Nicolaus cut their price target on Sage Therapeutics from $58.00 to $56.00 in a report on Tuesday. Mizuho cut their target price on Sage Therapeutics from $41.00 to $37.00 in a research note on Wednesday, May 4th. Finally, StockNews.com raised Sage Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $54.47.

Sage Therapeutics Trading Up 9.4 %

Shares of NASDAQ SAGE opened at $41.95 on Friday. The company has a market cap of $2.48 billion, a price-to-earnings ratio of -4.92 and a beta of 1.43. Sage Therapeutics has a 12-month low of $27.36 and a 12-month high of $47.75. The stock’s 50 day simple moving average is $34.75 and its 200 day simple moving average is $34.94.

Hedge Funds Weigh In On Sage Therapeutics

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Sage Therapeutics by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 4,625,003 shares of the biopharmaceutical company’s stock valued at $153,088,000 after purchasing an additional 46,762 shares during the period. Bellevue Group AG grew its holdings in shares of Sage Therapeutics by 0.6% in the 4th quarter. Bellevue Group AG now owns 3,228,004 shares of the biopharmaceutical company’s stock worth $137,319,000 after acquiring an additional 19,000 shares during the last quarter. State Street Corp grew its holdings in shares of Sage Therapeutics by 30.8% in the 1st quarter. State Street Corp now owns 2,835,356 shares of the biopharmaceutical company’s stock worth $93,850,000 after acquiring an additional 666,826 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Sage Therapeutics by 3.3% in the 1st quarter. JPMorgan Chase & Co. now owns 1,613,650 shares of the biopharmaceutical company’s stock worth $53,412,000 after acquiring an additional 52,028 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Sage Therapeutics by 3.8% in the 4th quarter. Geode Capital Management LLC now owns 908,229 shares of the biopharmaceutical company’s stock worth $38,636,000 after acquiring an additional 33,424 shares during the last quarter. 84.40% of the stock is currently owned by institutional investors and hedge funds.

About Sage Therapeutics

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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.

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

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