Sage Therapeutics (NASDAQ:SAGE) Posts Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Sage Therapeutics (NASDAQ:SAGE) posted its earnings results on Wednesday. The biopharmaceutical company reported ($1.70) earnings per share for the quarter, missing the consensus estimate of ($1.68) by ($0.02), Briefing.com reports. Sage Therapeutics had a negative net margin of 458.30% and a negative return on equity of 55.87%. The business had revenue of $8.65 million for the quarter, compared to analysts’ expectations of $8.85 million. During the same quarter last year, the business posted ($2.68) earnings per share. The business’s revenue was up 249.8% compared to the same quarter last year.

Sage Therapeutics Trading Down 1.6 %

NASDAQ:SAGE traded down $0.16 on Friday, reaching $9.60. The stock had a trading volume of 1,261,242 shares, compared to its average volume of 980,624. The company has a 50-day moving average of $11.15 and a 200 day moving average of $16.27. The stock has a market cap of $586.08 million, a P/E ratio of -1.14 and a beta of 0.90. Sage Therapeutics has a 12-month low of $9.31 and a 12-month high of $37.17.

Analyst Ratings Changes

SAGE has been the topic of several recent research reports. HC Wainwright restated a “neutral” rating and issued a $25.00 price objective on shares of Sage Therapeutics in a research report on Friday. JPMorgan Chase & Co. lowered shares of Sage Therapeutics from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $18.00 to $12.00 in a research report on Thursday, July 25th. Mizuho cut their price target on Sage Therapeutics from $18.00 to $16.00 and set a “neutral” rating for the company in a report on Friday, July 19th. Needham & Company LLC restated a “hold” rating on shares of Sage Therapeutics in a report on Thursday. Finally, Scotiabank reduced their target price on Sage Therapeutics from $19.00 to $17.00 and set a “sector outperform” rating on the stock in a research report on Thursday, July 25th. Two research analysts have rated the stock with a sell rating, eighteen have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $33.25.

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.