Leerink Partnrs Research Analysts Boost Earnings Estimates for Sage Therapeutics, Inc. (NASDAQ:SAGE)

Sage Therapeutics, Inc. (NASDAQ:SAGE) – Research analysts at Leerink Partnrs raised their Q1 2024 earnings estimates for Sage Therapeutics in a report released on Tuesday, April 9th. Leerink Partnrs analyst M. Goodman now anticipates that the biopharmaceutical company will post earnings of ($1.64) per share for the quarter, up from their previous forecast of ($1.73). The consensus estimate for Sage Therapeutics’ current full-year earnings is ($6.09) per share. Leerink Partnrs also issued estimates for Sage Therapeutics’ Q2 2024 earnings at ($1.66) EPS, Q3 2024 earnings at ($1.68) EPS, Q4 2024 earnings at ($1.72) EPS, FY2024 earnings at ($6.70) EPS, FY2025 earnings at ($4.20) EPS and FY2026 earnings at ($5.00) EPS.

Other equities research analysts have also issued research reports about the stock. Morgan Stanley boosted their price objective on shares of Sage Therapeutics from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 28th. HC Wainwright upped their target price on shares of Sage Therapeutics from $25.00 to $28.00 and gave the stock a “neutral” rating in a research note on Thursday, February 15th. Royal Bank of Canada upped their target price on shares of Sage Therapeutics from $21.00 to $26.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 15th. StockNews.com upgraded shares of Sage Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, February 15th. Finally, Stifel Nicolaus dropped their target price on shares of Sage Therapeutics from $22.00 to $20.00 and set a “hold” rating on the stock in a research note on Monday, December 18th. Fifteen investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $41.00.

Sage Therapeutics Price Performance

NASDAQ:SAGE opened at $15.44 on Friday. Sage Therapeutics has a one year low of $15.28 and a one year high of $59.99. The company’s 50-day simple moving average is $20.65 and its 200 day simple moving average is $21.09. The firm has a market capitalization of $928.10 million, a P/E ratio of -1.70 and a beta of 0.86.

Sage Therapeutics (NASDAQ:SAGE) last posted its quarterly earnings data on Wednesday, February 14th. The biopharmaceutical company reported ($0.55) EPS for the quarter, topping the consensus estimate of ($1.28) by $0.73. Sage Therapeutics had a negative net margin of 626.32% and a negative return on equity of 54.41%. The business had revenue of $77.97 million for the quarter, compared to analyst estimates of $60.15 million. During the same quarter in the previous year, the firm posted ($2.47) earnings per share. Sage Therapeutics’s quarterly revenue was up 2621.5% on a year-over-year basis.

Institutional Investors Weigh In On Sage Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of SAGE. Advisor Group Holdings Inc. increased its stake in shares of Sage Therapeutics by 63.6% in the 1st quarter. Advisor Group Holdings Inc. now owns 11,406 shares of the biopharmaceutical company’s stock worth $378,000 after purchasing an additional 4,432 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Sage Therapeutics by 3.0% in the 1st quarter. Bank of New York Mellon Corp now owns 352,623 shares of the biopharmaceutical company’s stock worth $11,672,000 after purchasing an additional 10,134 shares in the last quarter. MetLife Investment Management LLC purchased a new stake in shares of Sage Therapeutics in the 1st quarter worth $34,000. Vanguard Group Inc. increased its stake in shares of Sage Therapeutics by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 4,625,003 shares of the biopharmaceutical company’s stock worth $153,088,000 after purchasing an additional 46,762 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in shares of Sage Therapeutics by 4.1% in the 1st quarter. First Trust Advisors LP now owns 844,652 shares of the biopharmaceutical company’s stock worth $27,958,000 after purchasing an additional 33,218 shares in the last quarter. 99.22% of the stock is currently owned by hedge funds and other institutional investors.

Sage Therapeutics Company Profile

Sage Therapeutics, Inc, a biopharmaceutical company, develops and commercializes brain health medicines. Its product candidates include ZULRESSO, a CIV injection for the treatment of postpartum depression (PPD) in adults; and ZURZUVAE, a neuroactive steroid, a positive allosteric modulator of GABAA receptors, targeting both synaptic and extrasynaptic GABAA receptors, for the treatment of postpartum depression.