William Blair Comments on Sage Therapeutics, Inc.’s Q2 2024 Earnings (NASDAQ:SAGE)

Sage Therapeutics, Inc. (NASDAQ:SAGE) – Stock analysts at William Blair lowered their Q2 2024 earnings per share estimates for Sage Therapeutics in a research note issued to investors on Thursday, April 25th. William Blair analyst T. Lugo now expects that the biopharmaceutical company will earn ($1.81) per share for the quarter, down from their prior forecast of ($1.69). The consensus estimate for Sage Therapeutics’ current full-year earnings is ($6.49) per share. William Blair also issued estimates for Sage Therapeutics’ Q3 2024 earnings at ($1.76) EPS, Q4 2024 earnings at ($1.73) EPS, FY2024 earnings at ($7.11) EPS, Q1 2025 earnings at ($1.77) EPS, Q2 2025 earnings at ($1.73) EPS, Q3 2025 earnings at ($1.76) EPS and Q4 2025 earnings at ($1.75) EPS.

A number of other brokerages also recently issued reports on SAGE. StockNews.com upgraded Sage Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday. Truist Financial lowered their price target on Sage Therapeutics from $22.00 to $18.00 and set a “hold” rating on the stock in a research report on Friday. Oppenheimer lowered their price target on Sage Therapeutics from $25.00 to $17.00 and set a “market perform” rating on the stock in a research report on Thursday, April 18th. JPMorgan Chase & Co. increased their price target on Sage Therapeutics from $24.00 to $29.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 26th. Finally, Needham & Company LLC restated a “hold” rating on shares of Sage Therapeutics in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $37.72.

Sage Therapeutics Trading Up 0.8 %

Shares of SAGE stock opened at $13.69 on Monday. The company has a market capitalization of $823.86 million, a P/E ratio of -1.63 and a beta of 0.86. The business’s 50 day moving average is $18.56 and its two-hundred day moving average is $20.65. Sage Therapeutics has a 12-month low of $10.92 and a 12-month high of $59.99.

Sage Therapeutics (NASDAQ:SAGE) last issued its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.80) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $7.90 million during the quarter, compared to analysts’ expectations of $5.26 million. During the same quarter in the previous year, the company earned ($2.46) EPS. The firm’s quarterly revenue was up 139.4% compared to the same quarter last year.

Institutional Investors Weigh In On Sage Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. CWM LLC increased its holdings in shares of Sage Therapeutics by 274.2% in the third quarter. CWM LLC now owns 1,205 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 883 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in shares of Sage Therapeutics by 95.5% in the third quarter. China Universal Asset Management Co. Ltd. now owns 1,531 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 748 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Sage Therapeutics by 17.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,289 shares of the biopharmaceutical company’s stock valued at $191,000 after purchasing an additional 1,375 shares during the last quarter. Values First Advisors Inc. acquired a new stake in shares of Sage Therapeutics in the third quarter valued at approximately $219,000. Finally, Quest Partners LLC acquired a new stake in shares of Sage Therapeutics in the fourth quarter valued at approximately $261,000. 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.