Sage Therapeutics (NASDAQ:SAGE) Issues Earnings Results, Misses Expectations By $0.01 EPS

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) released its quarterly earnings data on Tuesday. The biopharmaceutical company reported ($1.53) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.52) by ($0.01), Briefing.com reports. The business had revenue of $11.87 million for the quarter, compared to the consensus estimate of $10.80 million. Sage Therapeutics had a negative net margin of 458.30% and a negative return on equity of 55.87%. Sage Therapeutics's revenue for the quarter was up 337.1% on a year-over-year basis. During the same quarter in the prior year, the business posted ($2.81) earnings per share.

Sage Therapeutics Stock Performance

Shares of Sage Therapeutics stock opened at $8.48 on Wednesday. The business's 50 day moving average price is $7.52 and its 200 day moving average price is $10.05. The company has a market cap of $510.34 million, a price-to-earnings ratio of -1.01 and a beta of 0.91. Sage Therapeutics has a one year low of $5.84 and a one year high of $28.26.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Needham & Company LLC restated a "hold" rating on shares of Sage Therapeutics in a research note on Wednesday. TD Cowen downgraded shares of Sage Therapeutics from a "buy" rating to a "hold" rating and dropped their target price for the stock from $16.00 to $10.00 in a research report on Tuesday, July 30th. The Goldman Sachs Group dropped their price objective on shares of Sage Therapeutics from $19.00 to $11.00 and set a "neutral" rating on the stock in a report on Friday, July 26th. Bank of America lowered their price target on Sage Therapeutics from $11.00 to $6.00 and set an "underperform" rating for the company in a research report on Wednesday, October 9th. Finally, Truist Financial cut their price objective on shares of Sage Therapeutics from $18.00 to $13.00 and set a "hold" rating on the stock in a research note on Wednesday, August 14th. Two investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $13.76.

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.