FY2024 EPS Estimate for Sage Therapeutics Raised by Analyst

Sage Therapeutics, Inc. (NASDAQ:SAGE) – Equities researchers at Wedbush lifted their FY2024 earnings per share (EPS) estimates for Sage Therapeutics in a note issued to investors on Thursday, January 23rd. Wedbush analyst L. Chico now forecasts that the biopharmaceutical company will earn ($7.01) per share for the year, up from their prior estimate of ($7.06). Wedbush has a “Neutral” rating and a $8.00 price target 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.

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

A number of other equities analysts have also recently commented on SAGE. Oppenheimer lowered their target price on Sage Therapeutics from $9.00 to $8.00 and set a “market perform” rating for the company in a report on Wednesday, October 30th. HC Wainwright restated a “neutral” rating and issued a $14.00 price objective on shares of Sage Therapeutics in a report on Wednesday, November 20th. StockNews.com lowered shares of Sage Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, October 31st. Stifel Nicolaus dropped their price target on shares of Sage Therapeutics from $10.00 to $6.00 and set a “hold” rating for the company in a research note on Monday, December 16th. Finally, Royal Bank of Canada upgraded Sage Therapeutics from an “underperform” rating to a “sector perform” rating and set a $4.00 price objective on the stock in a research note on Thursday, November 21st. Three investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $10.53.

Sage Therapeutics Stock Down 1.2 %

SAGE opened at $7.35 on Monday. The firm has a market cap of $449.60 million, a P/E ratio of -1.32 and a beta of 0.91. Sage Therapeutics has a 52 week low of $4.62 and a 52 week high of $27.39. The business has a fifty day simple moving average of $5.93 and a 200-day simple moving average of $7.25.

Hedge Funds Weigh In On Sage Therapeutics

Several hedge funds have recently added to or reduced their stakes in the business. China Universal Asset Management Co. Ltd. lifted its holdings in Sage Therapeutics by 66.1% in the 3rd 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. Creative Planning acquired a new stake in Sage Therapeutics during the third quarter worth approximately $88,000. Point72 DIFC Ltd acquired a new position in Sage Therapeutics in the 2nd quarter valued at $153,000. Empowered Funds LLC purchased a new position in shares of Sage Therapeutics during the 4th quarter worth $91,000. Finally, Quest Partners LLC grew its position in shares of Sage Therapeutics by 56.3% in the third quarter. Quest Partners LLC now owns 18,381 shares of the biopharmaceutical company’s stock valued at $133,000 after purchasing an additional 6,618 shares during the period. 99.22% of the stock is currently owned by hedge funds and other institutional investors.

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.