William Blair Comments on Sage Therapeutics, Inc.’s FY2018 Earnings (SAGE)
Sage Therapeutics, Inc. (NASDAQ:SAGE) – Analysts at William Blair cut their FY2018 earnings per share estimates for Sage Therapeutics in a research note issued on Tuesday. William Blair analyst T. Lugo now expects that the biopharmaceutical company will post earnings per share of ($6.70) for the year, down from their prior estimate of ($6.03). William Blair also issued estimates for Sage Therapeutics’ FY2019 earnings at ($5.15) EPS.
SAGE has been the topic of a number of other research reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $91.00 price objective (down previously from $104.00) on shares of Sage Therapeutics in a report on Wednesday. J P Morgan Chase & Co reaffirmed a “buy” rating on shares of Sage Therapeutics in a report on Thursday, August 31st. Cowen and Company reaffirmed a “buy” rating and set a $100.00 price objective on shares of Sage Therapeutics in a report on Friday, August 4th. BidaskClub lowered Sage Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, August 23rd. Finally, HC Wainwright upped their price objective on Sage Therapeutics to $86.00 and gave the stock a “neutral” rating in a report on Friday, August 4th. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $84.25.
Shares of Sage Therapeutics (SAGE) traded down 8.91% on Thursday, hitting $64.10. The stock had a trading volume of 1,084,060 shares. The firm has a 50 day moving average of $82.79 and a 200 day moving average of $74.97. The stock’s market cap is $2.40 billion. Sage Therapeutics has a 12 month low of $38.30 and a 12 month high of $90.80.
Sage Therapeutics (NASDAQ:SAGE) last announced its earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($1.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.63) by ($0.25). During the same quarter in the previous year, the firm posted ($1.08) earnings per share.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC boosted its position in Sage Therapeutics by 0.3% during the first quarter. FMR LLC now owns 5,590,527 shares of the biopharmaceutical company’s stock worth $397,319,000 after purchasing an additional 15,451 shares in the last quarter. BlackRock Inc. boosted its position in Sage Therapeutics by 5.9% during the second quarter. BlackRock Inc. now owns 3,031,548 shares of the biopharmaceutical company’s stock worth $241,431,000 after purchasing an additional 168,424 shares in the last quarter. Vanguard Group Inc. boosted its position in Sage Therapeutics by 2.2% during the second quarter. Vanguard Group Inc. now owns 2,749,954 shares of the biopharmaceutical company’s stock worth $219,006,000 after purchasing an additional 58,679 shares in the last quarter. State Street Corp boosted its position in Sage Therapeutics by 7.7% during the second quarter. State Street Corp now owns 1,212,384 shares of the biopharmaceutical company’s stock worth $96,558,000 after purchasing an additional 87,097 shares in the last quarter. Finally, Palo Alto Investors LLC boosted its position in Sage Therapeutics by 9.1% during the first quarter. Palo Alto Investors LLC now owns 1,101,951 shares of the biopharmaceutical company’s stock worth $78,316,000 after purchasing an additional 92,021 shares in the last quarter.
About Sage Therapeutics
SAGE Therapeutics, Inc is a clinical-stage biopharmaceutical company. The Company is engaged in developing and commercializing medicines to treat central nervous system (CNS) disorders. The Company’s lead product candidate, SAGE-547 is an intravenous formulation of allopregnanolone, a neurosteroid that acts as a synaptic and extrasynaptic modulator of the Gamma-Amino Butyric Acid-A (GABAA) receptor.
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