Leerink Partnrs Issues Positive Forecast for SAGE Earnings

Sage Therapeutics, Inc. (NASDAQ:SAGE) – Investment analysts at Leerink Partnrs raised their Q3 2024 earnings per share (EPS) estimates for Sage Therapeutics in a research note issued to investors 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 forecast 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.

A number of other equities analysts have also commented on SAGE. Mizuho reduced their target price on shares of Sage Therapeutics from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Friday, July 19th. Wedbush decreased their target price on Sage Therapeutics from $9.00 to $8.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. The Goldman Sachs Group dropped their price target on Sage Therapeutics from $19.00 to $11.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. Bank of America decreased their price objective on Sage Therapeutics from $11.00 to $6.00 and set an “underperform” rating for the company in a report on Wednesday, October 9th. Finally, HC Wainwright reaffirmed a “neutral” rating and issued a $25.00 price objective on shares of Sage Therapeutics in a research note on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $13.76.

Sage Therapeutics Price Performance

SAGE stock opened at $7.57 on Friday. Sage Therapeutics has a 12 month low of $5.84 and a 12 month high of $28.26. The firm’s 50-day moving average is $7.56 and its 200 day moving average is $10.51. The company has a market capitalization of $462.15 million, a PE ratio of -1.02 and a beta of 0.91.

Sage Therapeutics (NASDAQ:SAGE) last announced its quarterly earnings data on Wednesday, July 31st. The biopharmaceutical company reported ($1.70) EPS 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 business had revenue of $8.65 million during the quarter, compared to the consensus estimate of $8.85 million. During the same period last year, the company earned ($2.68) EPS. The business’s revenue was up 249.8% compared to the same quarter last year.

Institutional Trading of Sage Therapeutics

Large investors have recently bought and sold shares of the stock. Headlands Technologies LLC raised its position in Sage Therapeutics by 245.3% during the 2nd quarter. Headlands Technologies LLC now owns 3,916 shares of the biopharmaceutical company’s stock worth $43,000 after buying an additional 2,782 shares during the last quarter. Lazard Asset Management LLC purchased a new position in shares of Sage Therapeutics during the 1st quarter valued at about $127,000. Virtu Financial LLC acquired a new position in shares of Sage Therapeutics in the 1st quarter valued at about $187,000. Quest Partners LLC boosted its stake in shares of Sage Therapeutics by 14.5% in the second quarter. Quest Partners LLC now owns 11,763 shares of the biopharmaceutical company’s stock worth $128,000 after buying an additional 1,486 shares during the last quarter. Finally, Creative Planning acquired a new stake in Sage Therapeutics during the third quarter worth about $88,000. Hedge funds and other institutional investors own 99.22% of the company’s stock.

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.