Wedbush Weighs in on Sage Therapeutics, Inc.’s Q1 2024 Earnings (NASDAQ:SAGE)

Sage Therapeutics, Inc. (NASDAQ:SAGE) – Analysts at Wedbush reduced their Q1 2024 earnings estimates for Sage Therapeutics in a research note issued to investors on Wednesday, April 17th. Wedbush analyst L. Chico now forecasts that the biopharmaceutical company will post earnings of ($1.92) per share for the quarter, down from their previous estimate of ($1.89). Wedbush currently has a “Neutral” rating and a $24.00 target price on the stock. The consensus estimate for Sage Therapeutics’ current full-year earnings is ($6.06) per share. Wedbush also issued estimates for Sage Therapeutics’ Q2 2024 earnings at ($2.00) EPS, Q3 2024 earnings at ($2.01) EPS, Q4 2024 earnings at ($2.05) EPS, FY2024 earnings at ($7.98) EPS, FY2025 earnings at ($7.09) EPS, FY2026 earnings at ($4.51) EPS and FY2027 earnings at ($1.89) EPS.

Sage Therapeutics (NASDAQ:SAGE) last issued its earnings results on Wednesday, February 14th. The biopharmaceutical company reported ($0.55) earnings per share for the quarter, topping the consensus estimate of ($1.28) by $0.73. The business had revenue of $77.97 million during the quarter, compared to analysts’ expectations of $60.15 million. Sage Therapeutics had a negative return on equity of 54.41% and a negative net margin of 626.32%. The business’s revenue for the quarter was up 2621.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($2.47) EPS.

SAGE has been the topic of a number of other reports. Scotiabank dropped their price objective on shares of Sage Therapeutics from $34.00 to $19.00 and set a “sector outperform” rating on the stock in a research note on Thursday. Bank of America cut Sage Therapeutics from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $24.00 to $14.00 in a research report on Wednesday. Needham & Company LLC reissued a “hold” rating on shares of Sage Therapeutics in a research report on Thursday. TD Cowen dropped their price objective on Sage Therapeutics from $30.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Morgan Stanley lifted their target price on Sage Therapeutics from $20.00 to $22.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 28th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $39.28.

Sage Therapeutics Price Performance

Shares of Sage Therapeutics stock opened at $13.33 on Friday. The stock has a market cap of $801.27 million, a price-to-earnings ratio of -1.47 and a beta of 0.86. The firm’s 50-day moving average is $19.85 and its two-hundred day moving average is $20.91. Sage Therapeutics has a 1 year low of $10.92 and a 1 year high of $59.99.

Institutional Trading of Sage Therapeutics

Several large investors have recently added to or reduced their stakes in the company. MetLife Investment Management LLC acquired a new stake in shares of Sage Therapeutics during the first quarter worth about $34,000. CWM LLC lifted its stake in Sage Therapeutics by 274.2% during the 3rd quarter. CWM LLC now owns 1,205 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 883 shares during the period. KBC Group NV purchased a new stake in shares of Sage Therapeutics in the 4th quarter valued at $28,000. China Universal Asset Management Co. Ltd. increased its stake in shares of Sage Therapeutics by 95.5% in the third quarter. China Universal Asset Management Co. Ltd. now owns 1,531 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 748 shares during the period. Finally, XTX Topco Ltd acquired a new stake in shares of Sage Therapeutics in the first quarter worth $209,000. Hedge funds and other institutional investors own 99.22% of the company’s stock.

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.