Research Analysts Set Expectations for SAGE FY2024 Earnings

Sage Therapeutics, Inc. (NASDAQ:SAGE) – Stock analysts at Wedbush upped their FY2024 earnings per share (EPS) estimates for shares of Sage Therapeutics in a report released on Thursday, January 23rd. Wedbush analyst L. Chico now anticipates that the biopharmaceutical company will post earnings of ($7.01) per share for the year, up from their previous estimate of ($7.06). Wedbush currently has a “Neutral” rating and a $8.00 target price on the stock. The consensus estimate for Sage Therapeutics’ current full-year earnings is ($6.47) per share. Wedbush also issued estimates for Sage Therapeutics’ Q4 2024 earnings at ($1.98) EPS, Q1 2025 earnings at ($1.24) EPS, Q2 2025 earnings at ($1.00) EPS, Q3 2025 earnings at ($0.95) EPS, Q4 2025 earnings at ($0.93) EPS, FY2025 earnings at ($4.11) EPS, FY2026 earnings at ($2.63) EPS, FY2027 earnings at ($0.36) EPS and FY2028 earnings at ($0.08) EPS.

Other analysts have also issued research reports about the company. Robert W. Baird reduced their target price on Sage Therapeutics from $13.00 to $9.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Scotiabank reduced their price target on shares of Sage Therapeutics from $17.00 to $14.00 and set a “sector outperform” rating for the company in a report on Wednesday, October 30th. TD Cowen dropped their price objective on Sage Therapeutics from $10.00 to $9.00 and set a “hold” rating on the stock in a research report on Thursday, November 21st. Royal Bank of Canada upgraded shares of Sage Therapeutics from an “underperform” rating to a “sector perform” rating and set a $4.00 target price for the company in a research note on Thursday, November 21st. Finally, Bank of America dropped their price target on Sage Therapeutics from $11.00 to $6.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 9th. Three investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $10.53.

Sage Therapeutics Stock Performance

SAGE opened at $7.35 on Monday. Sage Therapeutics has a one year low of $4.62 and a one year high of $27.39. The stock has a market cap of $449.60 million, a price-to-earnings ratio of -1.32 and a beta of 0.91. The stock’s 50 day moving average price is $5.93 and its 200-day moving average price is $7.25.

Sage Therapeutics (NASDAQ:SAGE) last posted its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.52) by ($0.01). The firm had revenue of $11.87 million during the quarter, compared to analysts’ expectations of $10.80 million. Sage Therapeutics had a negative return on equity of 50.29% and a negative net margin of 317.29%. The business’s revenue for the quarter was up 337.1% compared to the same quarter last year. During the same period last year, the company earned ($2.81) earnings per share.

Institutional Investors Weigh In On Sage Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. boosted its holdings in Sage Therapeutics by 66.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 11,742 shares of the biopharmaceutical company’s stock worth $85,000 after buying an additional 4,672 shares in the last quarter. Creative Planning purchased a new position in shares of Sage Therapeutics in the 3rd quarter valued at about $88,000. Point72 DIFC Ltd acquired a new position in Sage Therapeutics in the 2nd quarter worth about $153,000. Empowered Funds LLC acquired a new stake in Sage Therapeutics in the fourth quarter valued at approximately $91,000. Finally, Quest Partners LLC increased its position in shares of Sage Therapeutics by 56.3% in the third quarter. Quest Partners LLC now owns 18,381 shares of the biopharmaceutical company’s stock valued at $133,000 after buying an additional 6,618 shares in the last quarter. Institutional investors and hedge funds 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.