FY2024 EPS Estimate for Sage Therapeutics Boosted by Analyst

Sage Therapeutics, Inc. (NASDAQ:SAGE) – Investment analysts at Wedbush increased their FY2024 earnings per share (EPS) estimates for Sage Therapeutics in a note issued to investors on Wednesday, October 30th. Wedbush analyst L. Chico now expects that the biopharmaceutical company will post earnings per share of ($7.06) for the year, up from their prior estimate of ($7.20). 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 ($6.50) 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 posted its earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.52) by ($0.01). The business had revenue of $11.87 million for the quarter, compared to the consensus estimate of $10.80 million. Sage Therapeutics had a negative return on equity of 50.29% and a negative net margin of 317.29%. The company’s revenue was up 337.1% compared to the same quarter last year. During the same period in the previous year, the firm earned ($2.81) earnings per share.

SAGE has been the topic of several other reports. Raymond James reaffirmed a “market perform” rating on shares of Sage Therapeutics in a report on Thursday, October 10th. Mizuho reduced their target price on Sage Therapeutics from $18.00 to $16.00 and set a “neutral” rating on the stock in a report on Friday, July 19th. Needham & Company LLC reissued a “hold” rating on shares of Sage Therapeutics in a research report on Wednesday. Robert W. Baird dropped their price target on shares of Sage Therapeutics from $13.00 to $9.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Finally, Scotiabank reduced their price objective on shares of Sage Therapeutics from $17.00 to $14.00 and set a “sector outperform” rating on the stock in a research note on Wednesday. Three investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Sage Therapeutics presently has an average rating of “Hold” and a consensus price target of $12.89.

Sage Therapeutics Stock Performance

Shares of NASDAQ:SAGE opened at $6.05 on Friday. The firm has a market cap of $370.08 million, a PE ratio of -1.08 and a beta of 0.92. Sage Therapeutics has a 52 week low of $5.84 and a 52 week high of $28.26. The firm’s fifty day moving average is $7.39 and its 200-day moving average is $9.88.

Hedge Funds Weigh In On Sage Therapeutics

A number of institutional investors have recently modified their holdings of the company. Headlands Technologies LLC raised its holdings in shares of Sage Therapeutics by 245.3% in the 2nd quarter. Headlands Technologies LLC now owns 3,916 shares of the biopharmaceutical company’s stock worth $43,000 after acquiring an additional 2,782 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Sage Therapeutics in the first quarter worth approximately $127,000. Virtu Financial LLC purchased a new stake in shares of Sage Therapeutics in the first quarter worth approximately $187,000. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Sage Therapeutics by 66.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 11,742 shares of the biopharmaceutical company’s stock valued at $85,000 after purchasing an additional 4,672 shares in the last quarter. Finally, Quest Partners LLC boosted its position 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. 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.