Leerink Partnrs Brokers Increase Earnings Estimates for SAGE

Sage Therapeutics, Inc. (NASDAQ:SAGE - Free Report) - Equities research analysts at Leerink Partnrs lifted their Q3 2024 earnings per share estimates for shares of Sage Therapeutics in a report issued on Tuesday, October 15th. Leerink Partnrs analyst M. Goodman now forecasts that the biopharmaceutical company will post earnings of ($1.39) per share for the quarter, up from their previous estimate of ($1.51). The consensus estimate for Sage Therapeutics' current full-year earnings is ($6.46) per share. Leerink Partnrs also issued estimates for Sage Therapeutics' Q4 2024 earnings at ($1.36) EPS, FY2024 earnings at ($6.25) EPS, FY2025 earnings at ($2.75) EPS, FY2026 earnings at ($2.65) EPS, FY2027 earnings at ($2.95) EPS and FY2028 earnings at ($3.00) EPS.

Several other research analysts have also recently weighed in on the company. Needham & Company LLC reaffirmed a "hold" rating on shares of Sage Therapeutics in a research report on Thursday. The Goldman Sachs Group reduced their price target on Sage Therapeutics from $19.00 to $11.00 and set a "neutral" rating for the company in a research report on Friday, July 26th. HC Wainwright reiterated a "neutral" rating and issued a $25.00 price objective on shares of Sage Therapeutics in a report on Wednesday, October 9th. Bank of America reduced their target price on shares of Sage Therapeutics from $11.00 to $6.00 and set an "underperform" rating for the company in a report on Wednesday, October 9th. Finally, TD Cowen lowered shares of Sage Therapeutics from a "buy" rating to a "hold" rating and lowered their price target for the company from $16.00 to $10.00 in a research note on Tuesday, July 30th. Two investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $13.76.

Sage Therapeutics Stock Performance

NASDAQ SAGE traded up $0.36 on Friday, reaching $7.57. The company had a trading volume of 441,412 shares, compared to its average volume of 980,930. The company's fifty day moving average is $7.56 and its 200-day moving average is $10.58. Sage Therapeutics has a 1-year low of $5.84 and a 1-year high of $28.26. The firm has a market capitalization of $462.15 million, a price-to-earnings ratio of -0.98 and a beta of 0.91.

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The biopharmaceutical company reported ($1.70) earnings per share for the quarter, missing the consensus estimate of ($1.68) by ($0.02). Sage Therapeutics had a negative net margin of 458.30% and a negative return on equity of 55.87%. The company had revenue of $8.65 million during the quarter, compared to analyst estimates of $8.85 million. During the same quarter last year, the company earned ($2.68) EPS. The firm's quarterly revenue was up 249.8% compared to the same quarter last year.

Institutional Trading of Sage Therapeutics

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Sage Therapeutics by 8.1% in the 1st quarter. Vanguard Group Inc. now owns 5,751,373 shares of the biopharmaceutical company's stock valued at $107,781,000 after buying an additional 432,013 shares during the last quarter. Bellevue Group AG increased its stake in shares of Sage Therapeutics by 27.1% during the first quarter. Bellevue Group AG now owns 4,465,544 shares of the biopharmaceutical company's stock worth $83,684,000 after purchasing an additional 952,193 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Sage Therapeutics by 69.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 811,934 shares of the biopharmaceutical company's stock worth $15,217,000 after purchasing an additional 333,805 shares during the last quarter. Federated Hermes Inc. bought a new stake in Sage Therapeutics in the 2nd quarter valued at $7,281,000. Finally, Renaissance Technologies LLC grew its holdings in Sage Therapeutics by 1,476.6% in the 2nd quarter. Renaissance Technologies LLC now owns 553,396 shares of the biopharmaceutical company's stock valued at $6,010,000 after buying an additional 518,296 shares in the last quarter. 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.