Q3 2024 EPS Estimates for Sage Therapeutics, Inc. Lifted by Analyst (NASDAQ:SAGE)

Sage Therapeutics, Inc. (NASDAQ:SAGE) – Research analysts at William Blair upped their Q3 2024 earnings estimates for Sage Therapeutics in a note issued to investors on Wednesday, July 24th. William Blair analyst T. Lugo now forecasts that the biopharmaceutical company will post earnings of ($1.75) per share for the quarter, up from their prior estimate of ($1.76). The consensus estimate for Sage Therapeutics’ current full-year earnings is ($6.54) per share. William Blair also issued estimates for Sage Therapeutics’ Q4 2024 earnings at ($1.70) EPS, FY2024 earnings at ($7.06) EPS and FY2025 earnings at ($6.48) EPS.

SAGE has been the topic of several other research reports. TD Cowen reduced their target price on shares of Sage Therapeutics from $30.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Mizuho reduced their price objective on shares of Sage Therapeutics from $18.00 to $16.00 and set a “neutral” rating on the stock in a research note on Friday, July 19th. Robert W. Baird dropped their target price on shares of Sage Therapeutics from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Thursday. Scotiabank reduced their price target on Sage Therapeutics from $19.00 to $17.00 and set a “sector outperform” rating on the stock in a research report on Thursday. Finally, Bank of America cut Sage Therapeutics from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $24.00 to $14.00 in a research note on Wednesday, April 17th. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $33.95.

Sage Therapeutics Stock Up 0.9 %

Shares of SAGE stock opened at $10.47 on Friday. The firm has a market cap of $630.08 million, a price-to-earnings ratio of -1.25 and a beta of 0.90. Sage Therapeutics has a 12 month low of $9.73 and a 12 month high of $41.67. The stock has a 50-day moving average price of $11.30 and a 200 day moving average price of $16.92.

Sage Therapeutics (NASDAQ:SAGE) last posted its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.80) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.63) by ($0.17). The firm had revenue of $7.90 million for the quarter, compared to analyst estimates of $5.26 million. Sage Therapeutics had a negative return on equity of 56.81% and a negative net margin of 552.52%. The firm’s quarterly revenue was up 139.4% compared to the same quarter last year. During the same period in the prior year, the company posted ($2.46) EPS.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Trexquant Investment LP bought a new stake in Sage Therapeutics in the 4th quarter valued at $2,234,000. Vanguard Group Inc. lifted its holdings in shares of Sage Therapeutics by 3.5% in the third quarter. Vanguard Group Inc. now owns 5,208,002 shares of the biopharmaceutical company’s stock valued at $107,181,000 after purchasing an additional 175,565 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Sage Therapeutics by 1,049.2% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 201,107 shares of the biopharmaceutical company’s stock worth $4,358,000 after buying an additional 183,607 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of Sage Therapeutics by 1,058.4% during the first quarter. Assenagon Asset Management S.A. now owns 156,593 shares of the biopharmaceutical company’s stock worth $2,935,000 after buying an additional 143,075 shares in the last quarter. Finally, abrdn plc bought a new position in shares of Sage Therapeutics during the fourth quarter worth about $1,404,000. 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.