Leerink Partnrs Issues Positive Outlook for SAGE Earnings

Sage Therapeutics, Inc. (NASDAQ:SAGE) – Stock analysts at Leerink Partnrs lifted their Q3 2024 earnings per share estimates for shares of Sage Therapeutics in a research report issued to clients and investors on Tuesday, October 15th. Leerink Partnrs analyst M. Goodman now expects that the biopharmaceutical company will post earnings of ($1.39) per share for the quarter, up from their previous estimate of ($1.51). The consensus estimate for Sage Therapeutics’ current full-year earnings is ($6.46) per share. Leerink Partnrs also issued estimates for Sage Therapeutics’ Q4 2024 earnings at ($1.36) EPS, FY2024 earnings at ($6.25) EPS, FY2025 earnings at ($2.75) EPS, FY2026 earnings at ($2.65) EPS, FY2027 earnings at ($2.95) EPS and FY2028 earnings at ($3.00) EPS.

Other analysts have also issued reports about the company. Truist Financial lowered their price objective on Sage Therapeutics from $18.00 to $13.00 and set a “hold” rating for the company in a research report on Wednesday, August 14th. TD Cowen downgraded Sage Therapeutics from a “buy” rating to a “hold” rating and cut their price target for the company from $16.00 to $10.00 in a research note on Tuesday, July 30th. The Goldman Sachs Group decreased their target price on Sage Therapeutics from $19.00 to $11.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. JPMorgan Chase & Co. cut their price target on shares of Sage Therapeutics from $12.00 to $10.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 6th. Finally, Scotiabank lowered their price objective on shares of Sage Therapeutics from $19.00 to $17.00 and set a “sector outperform” rating for the company in a research report on Thursday, July 25th. Two investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $13.76.

Sage Therapeutics Stock Performance

Shares of SAGE opened at $7.57 on Friday. The firm has a market capitalization of $462.15 million, a price-to-earnings ratio of -1.02 and a beta of 0.91. Sage Therapeutics has a 52 week low of $5.84 and a 52 week high of $28.26. The business’s fifty day moving average price is $7.56 and its two-hundred day moving average price is $10.46.

Sage Therapeutics (NASDAQ:SAGE) last announced its earnings results on Wednesday, July 31st. The biopharmaceutical company reported ($1.70) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.68) by ($0.02). The company had revenue of $8.65 million during the quarter, compared to the consensus estimate of $8.85 million. Sage Therapeutics had a negative return on equity of 55.87% and a negative net margin of 458.30%. The company’s revenue was up 249.8% on a year-over-year basis. During the same period in the prior year, the firm posted ($2.68) earnings per share.

Institutional Investors Weigh In On Sage Therapeutics

Several large investors have recently added to or reduced their stakes in the business. Headlands Technologies LLC lifted its position in shares of Sage Therapeutics by 245.3% during the 2nd quarter. Headlands Technologies LLC now owns 3,916 shares of the biopharmaceutical company’s stock valued at $43,000 after acquiring an additional 2,782 shares during the period. Creative Planning bought a new stake in shares of Sage Therapeutics during the third quarter valued at approximately $88,000. Lazard Asset Management LLC bought a new position in shares of Sage Therapeutics in the first quarter valued at $127,000. Quest Partners LLC grew its holdings in shares of Sage Therapeutics by 14.5% during the second quarter. Quest Partners LLC now owns 11,763 shares of the biopharmaceutical company’s stock valued at $128,000 after buying an additional 1,486 shares during the last quarter. Finally, Point72 DIFC Ltd acquired a new stake in shares of Sage Therapeutics in the 2nd quarter worth about $153,000. Institutional investors and hedge funds own 99.22% of the company’s stock.

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.