Q3 2022 EPS Estimates for Sage Therapeutics, Inc. (NASDAQ:SAGE) Decreased by Analyst

Sage Therapeutics, Inc. (NASDAQ:SAGEGet Rating) – Stock analysts at Wedbush cut their Q3 2022 earnings estimates for shares of Sage Therapeutics in a research note issued to investors on Wednesday, August 3rd. Wedbush analyst L. Chico now expects that the biopharmaceutical company will earn ($2.24) per share for the quarter, down from their prior forecast of ($2.13). The consensus estimate for Sage Therapeutics’ current full-year earnings is ($8.84) per share. Wedbush also issued estimates for Sage Therapeutics’ Q4 2022 earnings at ($2.30) EPS, FY2022 earnings at ($8.73) EPS, Q1 2023 earnings at ($2.30) EPS, Q2 2023 earnings at ($2.29) EPS, Q3 2023 earnings at ($2.23) EPS, Q4 2023 earnings at ($2.20) EPS, FY2023 earnings at ($9.02) EPS, FY2024 earnings at ($8.07) EPS, FY2025 earnings at ($6.22) EPS and FY2026 earnings at ($4.43) EPS.

Sage Therapeutics (NASDAQ:SAGEGet Rating) last issued its quarterly earnings results on Tuesday, August 2nd. The biopharmaceutical company reported ($2.13) EPS for the quarter, missing analysts’ consensus estimates of ($2.12) by ($0.01). The company had revenue of $1.50 million during the quarter, compared to the consensus estimate of $1.77 million. Sage Therapeutics had a negative return on equity of 30.10% and a negative net margin of 8,162.17%. Sage Therapeutics’s quarterly revenue was down 8.6% on a year-over-year basis. During the same period in the previous year, the company earned ($1.83) EPS.

Other equities analysts have also issued research reports about the stock. StockNews.com raised shares of Sage Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday. The Goldman Sachs Group reduced their target price on shares of Sage Therapeutics from $85.00 to $73.00 and set a “buy” rating on the stock in a report on Tuesday, May 24th. Stifel Nicolaus reduced their target price on shares of Sage Therapeutics from $58.00 to $56.00 in a report on Tuesday. Mizuho reduced their target price on shares of Sage Therapeutics from $41.00 to $37.00 in a report on Wednesday, May 4th. Finally, Citigroup reduced their target price on shares of Sage Therapeutics from $41.00 to $40.00 in a report on Wednesday. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $54.47.

Sage Therapeutics Price Performance

Shares of NASDAQ:SAGE opened at $41.95 on Friday. The company’s fifty day moving average price is $34.75 and its 200-day moving average price is $34.94. The firm has a market capitalization of $2.48 billion, a price-to-earnings ratio of -4.92 and a beta of 1.43. Sage Therapeutics has a one year low of $27.36 and a one year high of $47.75.

Institutional Investors Weigh In On Sage Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of SAGE. State Street Corp lifted its position in shares of Sage Therapeutics by 30.8% in the 1st quarter. State Street Corp now owns 2,835,356 shares of the biopharmaceutical company’s stock worth $93,850,000 after purchasing an additional 666,826 shares during the period. JPMorgan Chase & Co. lifted its position in Sage Therapeutics by 34.1% during the 4th quarter. JPMorgan Chase & Co. now owns 1,561,622 shares of the biopharmaceutical company’s stock valued at $66,433,000 after acquiring an additional 397,001 shares during the period. The Manufacturers Life Insurance Company lifted its position in Sage Therapeutics by 110.0% during the 1st quarter. The Manufacturers Life Insurance Company now owns 704,120 shares of the biopharmaceutical company’s stock valued at $23,354,000 after acquiring an additional 368,896 shares during the period. First Trust Advisors LP lifted its position in Sage Therapeutics by 37.8% during the 4th quarter. First Trust Advisors LP now owns 811,434 shares of the biopharmaceutical company’s stock valued at $34,518,000 after acquiring an additional 222,395 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new position in Sage Therapeutics during the 2nd quarter valued at about $5,635,000. 84.40% of the stock is owned by hedge funds and other institutional investors.

About Sage Therapeutics

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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.

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

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