FY2024 EPS Estimates for Sage Therapeutics Lifted by Wedbush

Sage Therapeutics, Inc. (NASDAQ:SAGE - Free Report) - Equities researchers at Wedbush boosted their FY2024 earnings estimates for shares of Sage Therapeutics in a research report issued on Thursday, January 23rd. Wedbush analyst L. Chico now expects that the biopharmaceutical company will earn ($7.01) per share for the year, up from their prior estimate of ($7.06). Wedbush has a "Neutral" rating and a $8.00 price target 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.

SAGE has been the topic of a number of other research reports. Oppenheimer cut their target price on shares of Sage Therapeutics from $9.00 to $8.00 and set a "market perform" rating on the stock in a research note on Wednesday, October 30th. Truist Financial cut their target price on shares of Sage Therapeutics from $13.00 to $8.00 and set a "hold" rating on the stock in a research note on Wednesday, October 30th. Scotiabank cut their target price on shares of Sage Therapeutics from $17.00 to $14.00 and set a "sector outperform" rating on the stock in a research note on Wednesday, October 30th. Raymond James restated a "market perform" rating on shares of Sage Therapeutics in a research note on Thursday, October 10th. Finally, Piper Sandler cut their target price on shares of Sage Therapeutics from $26.00 to $9.00 and set an "overweight" rating on the stock in a research note on Thursday, January 2nd. Three investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $10.53.

Sage Therapeutics Trading Up 4.9 %

SAGE stock traded up $0.35 during trading on Monday, reaching $7.45. The stock had a trading volume of 3,573,952 shares, compared to its average volume of 3,077,059. Sage Therapeutics has a 1-year low of $4.62 and a 1-year high of $27.39. The company has a market capitalization of $455.41 million, a P/E ratio of -1.33 and a beta of 0.91. The firm has a fifty day moving average price of $5.83 and a 200 day moving average price of $7.31.

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

Institutional Trading of Sage Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. RTW Investments LP lifted its stake in Sage Therapeutics by 2.0% during the third quarter. RTW Investments LP now owns 5,591,700 shares of the biopharmaceutical company's stock valued at $40,372,000 after purchasing an additional 111,123 shares during the last quarter. State Street Corp lifted its stake in Sage Therapeutics by 18.2% during the third quarter. State Street Corp now owns 2,926,239 shares of the biopharmaceutical company's stock valued at $21,127,000 after purchasing an additional 451,377 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Sage Therapeutics by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,242,854 shares of the biopharmaceutical company's stock valued at $8,975,000 after acquiring an additional 3,757 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Sage Therapeutics by 10.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 452,193 shares of the biopharmaceutical company's stock valued at $3,265,000 after acquiring an additional 43,617 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its position in shares of Sage Therapeutics by 1,112.0% in the 2nd quarter. Squarepoint Ops LLC now owns 313,407 shares of the biopharmaceutical company's stock valued at $3,404,000 after acquiring an additional 287,549 shares in the last quarter. 99.22% of the stock is owned by institutional investors and hedge funds.

About Sage Therapeutics

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.