William Blair Comments on Sage Therapeutics, Inc.’s Q2 2024 Earnings (NASDAQ:SAGE)

Sage Therapeutics, Inc. (NASDAQ:SAGE) – Analysts at William Blair lowered their Q2 2024 earnings per share estimates for shares of Sage Therapeutics in a note issued to investors on Thursday, April 25th. William Blair analyst T. Lugo now forecasts that the biopharmaceutical company will post earnings of ($1.81) per share for the quarter, down from their prior forecast of ($1.69). The consensus estimate for Sage Therapeutics’ current full-year earnings is ($6.49) per share. William Blair also issued estimates for Sage Therapeutics’ Q3 2024 earnings at ($1.76) EPS, Q4 2024 earnings at ($1.73) EPS, FY2024 earnings at ($7.11) EPS, Q1 2025 earnings at ($1.77) EPS, Q2 2025 earnings at ($1.73) EPS, Q3 2025 earnings at ($1.76) EPS and Q4 2025 earnings at ($1.75) EPS.

Sage Therapeutics (NASDAQ:SAGE) last posted its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.80) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.63) by ($0.17). The company had revenue of $7.90 million for the quarter, compared to analysts’ expectations of $5.26 million. Sage Therapeutics had a negative net margin of 552.52% and a negative return on equity of 54.17%. The firm’s quarterly revenue was up 139.4% compared to the same quarter last year. During the same period in the previous year, the firm earned ($2.46) EPS.

A number of other research analysts have also weighed in on SAGE. Needham & Company LLC reaffirmed a “hold” rating on shares of Sage Therapeutics in a report on Thursday. Bank of America lowered Sage Therapeutics from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $24.00 to $14.00 in a report on Wednesday, April 17th. The Goldman Sachs Group cut their price objective on Sage Therapeutics from $28.00 to $19.00 and set a “neutral” rating for the company in a report on Friday. Scotiabank cut their price objective on Sage Therapeutics from $34.00 to $19.00 and set a “sector outperform” rating for the company in a report on Thursday, April 18th. Finally, HC Wainwright cut their price objective on Sage Therapeutics from $28.00 to $25.00 and set a “neutral” rating for the company in a report on Friday. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Sage Therapeutics has an average rating of “Hold” and a consensus price target of $37.72.

Sage Therapeutics Stock Up 0.8 %

SAGE stock opened at $13.69 on Monday. The firm has a market capitalization of $823.86 million, a PE ratio of -1.63 and a beta of 0.86. Sage Therapeutics has a twelve month low of $10.92 and a twelve month high of $59.99. The stock has a 50-day simple moving average of $18.56 and a two-hundred day simple moving average of $20.65.

Institutional Trading of Sage Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of SAGE. CWM LLC lifted its position in Sage Therapeutics by 274.2% in the third quarter. CWM LLC now owns 1,205 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 883 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its position in 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 valued at $32,000 after purchasing an additional 748 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Sage Therapeutics by 17.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,289 shares of the biopharmaceutical company’s stock valued at $191,000 after purchasing an additional 1,375 shares during the last quarter. Values First Advisors Inc. bought a new stake in Sage Therapeutics in the third quarter valued at approximately $219,000. Finally, Quest Partners LLC bought a new stake in Sage Therapeutics in the fourth quarter valued at approximately $261,000. Institutional investors own 99.22% of the company’s stock.

About Sage Therapeutics

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.