Wedbush Has Optimistic Outlook of SAGE FY2024 Earnings

Sage Therapeutics, Inc. (NASDAQ:SAGE) – Research analysts at Wedbush boosted their FY2024 earnings estimates for Sage Therapeutics in a research report issued to clients and investors on Thursday, January 23rd. Wedbush analyst L. Chico now anticipates that the biopharmaceutical company will earn ($7.01) per share for the year, up from their previous estimate of ($7.06). Wedbush currently has a “Neutral” rating and a $8.00 target price on the stock. The consensus estimate for Sage Therapeutics’ current full-year earnings is ($6.47) per share. Wedbush also issued estimates for Sage Therapeutics’ Q4 2024 earnings at ($1.98) EPS, Q1 2025 earnings at ($1.24) EPS, Q2 2025 earnings at ($1.00) EPS, Q3 2025 earnings at ($0.95) EPS, Q4 2025 earnings at ($0.93) EPS, FY2025 earnings at ($4.11) EPS, FY2026 earnings at ($2.63) EPS, FY2027 earnings at ($0.36) EPS and FY2028 earnings at ($0.08) EPS.

Other research analysts have also recently issued research reports about the company. Piper Sandler decreased their price target on Sage Therapeutics from $26.00 to $9.00 and set an “overweight” rating for the company in a research note on Thursday, January 2nd. Stifel Nicolaus decreased their target price on shares of Sage Therapeutics from $10.00 to $6.00 and set a “hold” rating for the company in a research report on Monday, December 16th. Needham & Company LLC reissued a “hold” rating on shares of Sage Therapeutics in a research note on Wednesday, November 20th. HC Wainwright reaffirmed a “neutral” rating and issued a $14.00 price target on shares of Sage Therapeutics in a research note on Wednesday, November 20th. Finally, Raymond James reiterated a “market perform” rating on shares of Sage Therapeutics in a research note on Thursday, October 10th. Three investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $10.53.

Sage Therapeutics Price Performance

SAGE opened at $7.44 on Monday. The stock’s 50 day moving average price is $5.88 and its 200 day moving average price is $7.28. The stock has a market cap of $455.10 million, a P/E ratio of -1.33 and a beta of 0.91. Sage Therapeutics has a 12 month low of $4.62 and a 12 month high of $27.39.

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

Hedge Funds Weigh In On Sage Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of SAGE. RTW Investments LP raised its holdings in Sage Therapeutics by 2.0% during the 3rd quarter. RTW Investments LP now owns 5,591,700 shares of the biopharmaceutical company’s stock worth $40,372,000 after buying an additional 111,123 shares during the period. State Street Corp increased its position in shares of Sage Therapeutics by 18.2% in the third quarter. State Street Corp now owns 2,926,239 shares of the biopharmaceutical company’s stock worth $21,127,000 after acquiring an additional 451,377 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Sage Therapeutics by 0.3% during the third quarter. Geode Capital Management LLC now owns 1,242,854 shares of the biopharmaceutical company’s stock valued at $8,975,000 after acquiring an additional 3,757 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Sage Therapeutics by 10.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 452,193 shares of the biopharmaceutical company’s stock valued at $3,265,000 after acquiring an additional 43,617 shares in the last quarter. Finally, Squarepoint Ops LLC boosted its stake in Sage Therapeutics by 1,112.0% in the 2nd quarter. Squarepoint Ops LLC now owns 313,407 shares of the biopharmaceutical company’s stock worth $3,404,000 after purchasing an additional 287,549 shares during the period. Institutional investors and hedge funds 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.