Sage Therapeutics, Inc. (SAGE) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS
Sage Therapeutics, Inc. (NASDAQ:SAGE) announced its quarterly earnings data on Thursday. The biopharmaceutical company reported ($1.97) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.98) by $0.01, Bloomberg Earnings reports. Sage Therapeutics’s revenue for the quarter was up .0% on a year-over-year basis.
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Several analysts have recently issued reports on the company. Canaccord Genuity reduced their price objective on Sage Therapeutics from $110.00 to $81.00 and set a “buy” rating on the stock in a research note on Tuesday, September 12th. Stifel Nicolaus assumed coverage on Sage Therapeutics in a research note on Wednesday, August 9th. They issued a “buy” rating and a $104.00 price objective on the stock. Needham & Company LLC set a $95.00 price objective on Sage Therapeutics and gave the company a “buy” rating in a research note on Friday, August 4th. BidaskClub cut Sage Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Finally, HC Wainwright increased their price objective on Sage Therapeutics to $86.00 and gave the company a “neutral” rating in a research note on Friday, August 4th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $86.50.
Sage Therapeutics Company Profile
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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