Q2 2024 EPS Estimates for Sage Therapeutics, Inc. Lifted by Analyst (NASDAQ:SAGE)

Sage Therapeutics, Inc. (NASDAQ:SAGE) – Wedbush upped their Q2 2024 earnings estimates for Sage Therapeutics in a note issued to investors on Thursday, April 25th. Wedbush analyst L. Chico now anticipates that the biopharmaceutical company will post earnings of ($1.83) per share for the quarter, up from their prior forecast of ($2.00). Wedbush has a “Neutral” rating and a $24.00 price target on the stock. The consensus estimate for Sage Therapeutics’ current full-year earnings is ($6.49) per share. Wedbush also issued estimates for Sage Therapeutics’ Q3 2024 earnings at ($1.86) EPS, Q4 2024 earnings at ($1.87) EPS, FY2024 earnings at ($7.36) EPS, FY2025 earnings at ($6.70) EPS, FY2026 earnings at ($4.30) EPS, FY2027 earnings at ($1.94) EPS and FY2028 earnings at ($0.82) EPS.

Sage Therapeutics (NASDAQ:SAGE) last issued its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.80) EPS for the quarter, missing the consensus estimate of ($1.63) by ($0.17). The firm had revenue of $7.90 million during the quarter, compared to analyst estimates of $5.26 million. Sage Therapeutics had a negative net margin of 552.52% and a negative return on equity of 56.81%. The firm’s revenue for the quarter was up 139.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($2.46) EPS.

SAGE has been the subject of several other research reports. Truist Financial cut their price objective on Sage Therapeutics from $22.00 to $18.00 and set a “hold” rating for the company in a research report on Friday, April 26th. Morgan Stanley lifted their price target on Sage Therapeutics from $20.00 to $22.00 and gave the company an “equal weight” rating in a report on Wednesday, February 28th. HC Wainwright decreased their price objective on shares of Sage Therapeutics from $28.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, April 26th. Mizuho lowered their price objective on shares of Sage Therapeutics from $20.00 to $18.00 and set a “neutral” rating for the company in a research report on Friday, April 26th. Finally, StockNews.com upgraded shares of Sage Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Sage Therapeutics currently has an average rating of “Hold” and a consensus target price of $37.72.

Sage Therapeutics Trading Down 1.7 %

NASDAQ:SAGE opened at $13.94 on Monday. The stock has a market capitalization of $838.91 million, a P/E ratio of -1.66 and a beta of 0.86. Sage Therapeutics has a 1 year low of $10.92 and a 1 year high of $59.99. The firm has a 50 day moving average of $18.21 and a 200-day moving average of $20.57.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. RTW Investments LP bought a new position in Sage Therapeutics in the third quarter valued at approximately $105,976,000. Jacobs Levy Equity Management Inc. bought a new stake in shares of Sage Therapeutics in the 3rd quarter valued at about $8,052,000. Rafferty Asset Management LLC lifted its position in shares of Sage Therapeutics by 197.1% in the third quarter. Rafferty Asset Management LLC now owns 411,904 shares of the biopharmaceutical company’s stock valued at $8,477,000 after buying an additional 273,257 shares during the last quarter. Hudson Bay Capital Management LP raised its stake in Sage Therapeutics by 1,733.3% in the 3rd quarter. Hudson Bay Capital Management LP now owns 275,000 shares of the biopharmaceutical company’s stock valued at $5,660,000 after acquiring an additional 260,000 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in Sage Therapeutics by 3.3% during the 3rd quarter. Wellington Management Group LLP now owns 6,572,260 shares of the biopharmaceutical company’s stock valued at $135,257,000 after purchasing an additional 208,630 shares during the last quarter. 99.22% of the stock is owned by institutional investors and hedge funds.

About Sage Therapeutics

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.