FY2024 EPS Estimates for Sage Therapeutics Raised by Wedbush

Sage Therapeutics, Inc. (NASDAQ:SAGE) – Equities research analysts at Wedbush upped their FY2024 earnings per share estimates for Sage Therapeutics in a report released on Wednesday, October 30th. Wedbush analyst L. Chico now expects that the biopharmaceutical company will post earnings of ($7.06) per share for the year, up from their prior estimate of ($7.20). Wedbush has a “Neutral” rating and a $8.00 price objective on the stock. The consensus estimate for Sage Therapeutics’ current full-year earnings is ($6.50) per share. Wedbush also issued estimates for Sage Therapeutics’ Q4 2024 earnings at ($2.03) EPS, Q2 2025 earnings at ($1.21) EPS, Q3 2025 earnings at ($1.23) EPS, Q4 2025 earnings at ($1.23) EPS and FY2025 earnings at ($5.04) EPS.

Sage Therapeutics (NASDAQ:SAGE) last issued its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.52) by ($0.01). Sage Therapeutics had a negative return on equity of 50.29% and a negative net margin of 317.29%. The company had revenue of $11.87 million for the quarter, compared to analyst estimates of $10.80 million. During the same quarter last year, the company earned ($2.81) EPS. The firm’s quarterly revenue was up 337.1% on a year-over-year basis.

A number of other brokerages have also recently commented on SAGE. Oppenheimer decreased their price objective on Sage Therapeutics from $9.00 to $8.00 and set a “market perform” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. dropped their price objective on Sage Therapeutics from $12.00 to $10.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 6th. Mizuho dropped their target price on shares of Sage Therapeutics from $18.00 to $16.00 and set a “neutral” rating on the stock in a report on Friday, July 19th. Truist Financial reduced their price target on shares of Sage Therapeutics from $13.00 to $8.00 and set a “hold” rating for the company in a report on Wednesday. Finally, Royal Bank of Canada lowered shares of Sage Therapeutics from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $10.00 to $4.00 in a report on Friday, October 4th. Three analysts have rated the stock with a sell rating, seventeen have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $12.89.

Sage Therapeutics Stock Down 0.5 %

Shares of SAGE stock opened at $6.05 on Friday. Sage Therapeutics has a 12 month low of $5.84 and a 12 month high of $28.26. The firm has a market cap of $370.08 million, a price-to-earnings ratio of -1.08 and a beta of 0.92. The stock has a 50-day moving average price of $7.39 and a 200 day moving average price of $9.88.

Institutional Trading of Sage Therapeutics

A number of institutional investors have recently bought and sold shares of SAGE. Price T Rowe Associates Inc. MD lifted its position in shares of Sage Therapeutics by 69.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 811,934 shares of the biopharmaceutical company’s stock valued at $15,217,000 after acquiring an additional 333,805 shares during the period. Vanguard Group Inc. grew its stake in Sage Therapeutics by 8.1% during the first quarter. Vanguard Group Inc. now owns 5,751,373 shares of the biopharmaceutical company’s stock worth $107,781,000 after buying an additional 432,013 shares in the last quarter. Virtu Financial LLC bought a new position in Sage Therapeutics in the 1st quarter valued at about $187,000. Bellevue Group AG raised its position in shares of Sage Therapeutics by 27.1% in the 1st quarter. Bellevue Group AG now owns 4,465,544 shares of the biopharmaceutical company’s stock valued at $83,684,000 after buying an additional 952,193 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Sage Therapeutics by 4.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,568 shares of the biopharmaceutical company’s stock valued at $723,000 after buying an additional 1,693 shares in the last quarter. Institutional investors own 99.22% of the company’s stock.

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.