Sage Therapeutics, Inc. (NASDAQ:SAGE) to Post Q1 2023 Earnings of ($2.16) Per Share, Wedbush Forecasts

Sage Therapeutics, Inc. (NASDAQ:SAGEGet Rating) – Research analysts at Wedbush issued their Q1 2023 earnings per share estimates for shares of Sage Therapeutics in a research report issued to clients and investors on Tuesday, May 3rd. Wedbush analyst L. Chico expects that the biopharmaceutical company will post earnings per share of ($2.16) for the quarter. Wedbush also issued estimates for Sage Therapeutics’ Q2 2023 earnings at ($2.16) EPS, Q3 2023 earnings at ($2.11) EPS and Q4 2023 earnings at ($2.08) EPS.

Several other research firms have also recently weighed in on SAGE. Morgan Stanley decreased their price objective on shares of Sage Therapeutics from $61.00 to $57.00 and set an “equal weight” rating for the company in a research report on Thursday, March 10th. SVB Leerink decreased their price objective on shares of Sage Therapeutics from $60.00 to $50.00 and set a “market perform” rating for the company in a research report on Friday, February 25th. Needham & Company LLC increased their price objective on shares of Sage Therapeutics from $79.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, January 6th. Truist Financial reduced their price target on shares of Sage Therapeutics from $60.00 to $40.00 and set a “hold” rating for the company in a report on Wednesday, March 9th. Finally, StockNews.com began coverage on shares of Sage Therapeutics in a report on Thursday, March 31st. They issued a “sell” rating for the company. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $62.95.

SAGE opened at $34.20 on Thursday. Sage Therapeutics has a twelve month low of $30.48 and a twelve month high of $79.45. The company has a fifty day moving average of $34.15 and a 200-day moving average of $38.42.

Sage Therapeutics (NASDAQ:SAGEGet Rating) last posted its quarterly earnings data on Tuesday, May 3rd. The biopharmaceutical company reported ($2.07) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.06) by ($0.01). Sage Therapeutics had a negative return on equity of 24.43% and a negative net margin of 7,258.91%. The firm had revenue of $1.58 million for the quarter, compared to analyst estimates of $3.23 million. During the same quarter last year, the company earned ($1.64) earnings per share. The company’s quarterly revenue was down .1% compared to the same quarter last year.

Hedge funds have recently made changes to their positions in the business. Exchange Traded Concepts LLC bought a new stake in Sage Therapeutics in the first quarter worth about $28,000. Princeton Global Asset Management LLC bought a new stake in Sage Therapeutics in the third quarter worth about $44,000. Metropolitan Life Insurance Co NY bought a new stake in Sage Therapeutics in the fourth quarter worth about $44,000. Van ECK Associates Corp raised its position in Sage Therapeutics by 59.3% in the third quarter. Van ECK Associates Corp now owns 1,203 shares of the biopharmaceutical company’s stock worth $53,000 after acquiring an additional 448 shares during the period. Finally, US Bancorp DE raised its position in Sage Therapeutics by 19.7% in the third quarter. US Bancorp DE now owns 1,885 shares of the biopharmaceutical company’s stock worth $84,000 after acquiring an additional 310 shares during the period. 84.40% of the stock is currently owned by institutional investors and hedge funds.

Sage Therapeutics Company Profile (Get Rating)

Sage Therapeutics, Inc, a biopharmaceutical company, develops and commercializes medicines to treat central nervous system disorders. Its lead product candidate is ZULRESSO, an intravenous formulation of brexanolone for the treatment of postpartum depression (PPD) in adults. The company's product pipeline also includes zuranolone, a neuroactive steroid, which is in Phase III clinical trials for treating PPD, major depressive disorders, treatment resistant disorders, generalized anxiety disorders, and bipolar depression; and SAGE-324, a compound that is in Phase II clinical trial to treat essential tremors, as well as has completed Phase I clinical trial for epilepsy and Parkinson's diseases.

Further Reading

Earnings History and Estimates for Sage Therapeutics (NASDAQ:SAGE)

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