SunTrust Banks Research Analysts Boost Earnings Estimates for Sage Therapeutics, Inc. (SAGE)
Sage Therapeutics, Inc. (NASDAQ:SAGE) – SunTrust Banks lifted their FY2017 earnings estimates for shares of Sage Therapeutics in a research note issued on Tuesday. SunTrust Banks analyst E. Nash now anticipates that the biopharmaceutical company will post earnings of ($6.63) per share for the year, up from their prior forecast of ($6.75). SunTrust Banks currently has a “Buy” rating and a $82.00 target price on the stock. SunTrust Banks also issued estimates for Sage Therapeutics’ Q4 2017 earnings at ($1.54) EPS, FY2018 earnings at ($5.62) EPS, FY2019 earnings at ($4.63) EPS, FY2020 earnings at ($3.04) EPS and FY2021 earnings at ($0.10) EPS.
Sage Therapeutics (NASDAQ:SAGE) last posted its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($1.88) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.63) by ($0.25). During the same quarter last year, the business earned ($1.08) earnings per share.
Several other brokerages have also weighed in on SAGE. Cowen and Company decreased their price objective on Sage Therapeutics from $100.00 to $90.00 and set an “outperform” rating on the stock in a report on Tuesday. J P Morgan Chase & Co decreased their price objective on Sage Therapeutics from $99.00 to $85.00 and set an “overweight” rating on the stock in a report on Tuesday. Canaccord Genuity decreased their price objective on Sage Therapeutics from $110.00 to $81.00 and set a “buy” rating on the stock in a report on Tuesday. Stifel Nicolaus began coverage on Sage Therapeutics in a report on Wednesday, August 9th. They set a “buy” rating and a $104.00 price objective on the stock. Finally, Leerink Swann reissued an “outperform” rating and set a $97.00 price objective (up previously from $90.00) on shares of Sage Therapeutics in a report on Tuesday, June 20th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. Sage Therapeutics currently has an average rating of “Buy” and an average target price of $86.77.
Shares of Sage Therapeutics (NASDAQ SAGE) opened at 64.81 on Friday. Sage Therapeutics has a 52-week low of $38.30 and a 52-week high of $90.80. The firm’s market capitalization is $2.43 billion. The company’s 50 day moving average price is $81.85 and its 200 day moving average price is $74.87.
A number of hedge funds have recently made changes to their positions in SAGE. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Sage Therapeutics by 11.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,378 shares of the biopharmaceutical company’s stock valued at $110,000 after buying an additional 138 shares in the last quarter. Turner Investments LLC bought a new position in Sage Therapeutics in the 2nd quarter valued at $159,000. Dubuque Bank & Trust Co. bought a new position in Sage Therapeutics in the 2nd quarter valued at $167,000. Canada Pension Plan Investment Board bought a new position in Sage Therapeutics in the 2nd quarter valued at $175,000. Finally, Ameritas Investment Partners Inc. bought a new position in Sage Therapeutics in the 1st quarter valued at $180,000.
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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