Sage Therapeutics, Inc. (NASDAQ:SAGE) to Post Q2 2024 Earnings of ($1.83) Per Share, Wedbush Forecasts

Sage Therapeutics, Inc. (NASDAQ:SAGE) – Research analysts at Wedbush boosted their Q2 2024 EPS estimates for Sage Therapeutics in a research report issued on Thursday, April 25th. Wedbush analyst L. Chico now expects that the biopharmaceutical company will earn ($1.83) per share for the quarter, up from their previous estimate of ($2.00). Wedbush has a “Neutral” rating and a $24.00 price objective on the stock. The consensus estimate for Sage Therapeutics’ current full-year earnings is ($6.49) per share. Wedbush also issued estimates for Sage Therapeutics’ Q3 2024 earnings at ($1.86) EPS, Q4 2024 earnings at ($1.87) EPS, FY2024 earnings at ($7.36) EPS, FY2025 earnings at ($6.70) EPS, FY2026 earnings at ($4.30) EPS, FY2027 earnings at ($1.94) EPS and FY2028 earnings at ($0.82) EPS.

Other analysts have also recently issued reports about the stock. Oppenheimer decreased their price target on shares of Sage Therapeutics from $25.00 to $17.00 and set a “market perform” rating on the stock in a research note on Thursday, April 18th. Truist Financial decreased their price target on shares of Sage Therapeutics from $22.00 to $18.00 and set a “hold” rating on the stock in a research note on Friday. Needham & Company LLC reissued a “hold” rating on shares of Sage Therapeutics in a research note on Thursday. HC Wainwright decreased their price target on shares of Sage Therapeutics from $28.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday. Finally, Bank of America cut shares of Sage Therapeutics from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $24.00 to $14.00 in a research note on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Sage Therapeutics presently has a consensus rating of “Hold” and an average price target of $37.72.

Sage Therapeutics Price Performance

SAGE opened at $13.69 on Monday. Sage Therapeutics has a one year low of $10.92 and a one year high of $59.99. The company’s 50 day simple moving average is $18.56 and its 200-day simple moving average is $20.65. The stock has a market capitalization of $823.86 million, a P/E ratio of -1.63 and a beta of 0.86.

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

Institutional Investors Weigh In On Sage Therapeutics

Several hedge funds have recently bought and sold shares of SAGE. CWM LLC raised its holdings in Sage Therapeutics by 274.2% in the third quarter. CWM LLC now owns 1,205 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 883 shares during the period. SG Americas Securities LLC raised its holdings in Sage Therapeutics by 11.0% in the third quarter. SG Americas Securities LLC now owns 18,607 shares of the biopharmaceutical company’s stock worth $383,000 after purchasing an additional 1,847 shares during the period. Harbor Capital Advisors Inc. raised its holdings in Sage Therapeutics by 65.2% in the third quarter. Harbor Capital Advisors Inc. now owns 34,773 shares of the biopharmaceutical company’s stock worth $716,000 after purchasing an additional 13,720 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings 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 worth $191,000 after purchasing an additional 1,375 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Sage Therapeutics by 27.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 39,583 shares of the biopharmaceutical company’s stock worth $815,000 after purchasing an additional 8,561 shares during the period. 99.22% of the stock is currently owned by institutional investors and hedge funds.

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.