Wedbush Analysts Boost Earnings Estimates for Sage Therapeutics, Inc. (NASDAQ:SAGE)

Sage Therapeutics, Inc. (NASDAQ:SAGE) – Analysts at Wedbush lifted their Q2 2024 earnings estimates for Sage Therapeutics in a research report issued to clients and investors 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.

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

Several other analysts have also issued reports on SAGE. JPMorgan Chase & Co. upped their target price on shares of Sage Therapeutics from $24.00 to $29.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 26th. Truist Financial reduced their target price on shares of Sage Therapeutics from $22.00 to $18.00 and set a “hold” rating for the company in a research note on Friday. Needham & Company LLC reiterated a “hold” rating on shares of Sage Therapeutics in a research note on Thursday. Scotiabank reduced their target price on shares of Sage Therapeutics from $34.00 to $19.00 and set a “sector outperform” rating for the company in a research note on Thursday, April 18th. Finally, Bank of America lowered shares of Sage Therapeutics from a “neutral” rating to an “underperform” rating and reduced their target price for the stock 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 given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Sage Therapeutics has an average rating of “Hold” and a consensus target price of $37.72.

Sage Therapeutics Price Performance

NASDAQ SAGE opened at $13.69 on Monday. Sage Therapeutics has a 1 year low of $10.92 and a 1 year high of $59.99. The firm has a market cap of $823.86 million, a price-to-earnings ratio of -1.63 and a beta of 0.86. The company has a fifty day moving average price of $18.56 and a 200-day moving average price of $20.65.

Hedge Funds Weigh In On Sage Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pinnacle Associates Ltd. boosted its position in Sage Therapeutics by 69.6% during the first quarter. Pinnacle Associates Ltd. now owns 285,917 shares of the biopharmaceutical company’s stock worth $5,358,000 after purchasing an additional 117,344 shares during the period. Assenagon Asset Management S.A. boosted its position in Sage Therapeutics by 1,058.4% during the first quarter. Assenagon Asset Management S.A. now owns 156,593 shares of the biopharmaceutical company’s stock worth $2,935,000 after purchasing an additional 143,075 shares during the period. Hennion & Walsh Asset Management Inc. boosted its position in Sage Therapeutics by 8.2% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 66,567 shares of the biopharmaceutical company’s stock worth $1,247,000 after purchasing an additional 5,068 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its position in Sage Therapeutics by 1,049.2% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 201,107 shares of the biopharmaceutical company’s stock worth $4,358,000 after purchasing an additional 183,607 shares during the period. Finally, Vanguard Group Inc. boosted its position in Sage Therapeutics by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 5,319,360 shares of the biopharmaceutical company’s stock worth $115,271,000 after purchasing an additional 111,358 shares during the period. Institutional investors 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.