What is Leerink Partnrs’ Estimate for SAGE FY2024 Earnings?

Sage Therapeutics, Inc. (NASDAQ:SAGE) – Stock analysts at Leerink Partnrs reduced their FY2024 earnings per share estimates for Sage Therapeutics in a research report issued on Tuesday, October 29th. Leerink Partnrs analyst M. Goodman now anticipates that the biopharmaceutical company will post earnings per share of ($6.30) for the year, down from their previous estimate of ($6.25). The consensus estimate for Sage Therapeutics’ current full-year earnings is ($6.43) per share. Leerink Partnrs also issued estimates for Sage Therapeutics’ Q4 2024 earnings at ($1.27) EPS, FY2025 earnings at ($2.95) EPS, FY2026 earnings at ($2.80) EPS, FY2027 earnings at ($3.15) EPS and FY2028 earnings at ($2.85) EPS.

Sage Therapeutics (NASDAQ:SAGE) last released its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) EPS for the quarter, missing the consensus estimate of ($1.52) by ($0.01). The company had revenue of $11.87 million during the quarter, compared to analysts’ expectations of $10.80 million. Sage Therapeutics had a negative return on equity of 50.29% and a negative net margin of 317.29%. The company’s revenue was up 337.1% on a year-over-year basis. During the same quarter in the prior year, the business posted ($2.81) EPS.

Several other brokerages also recently issued reports on SAGE. Piper Sandler reissued an “overweight” rating and issued a $26.00 price objective (down previously from $52.00) on shares of Sage Therapeutics in a research note on Wednesday. Needham & Company LLC reissued a “hold” rating on shares of Sage Therapeutics in a research note on Wednesday. The Goldman Sachs Group decreased their price objective on shares of Sage Therapeutics from $19.00 to $11.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. StockNews.com downgraded shares of Sage Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, TD Cowen downgraded shares of Sage Therapeutics from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $16.00 to $10.00 in a research note on Tuesday, July 30th. Three investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $12.89.

Sage Therapeutics Trading Down 0.5 %

SAGE opened at $6.05 on Friday. The firm has a market cap of $370.10 million, a P/E ratio of -1.08 and a beta of 0.91. Sage Therapeutics has a 12 month low of $5.84 and a 12 month high of $28.26. The stock has a 50-day moving average of $7.44 and a 200 day moving average of $9.95.

Hedge Funds Weigh In On Sage Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. Headlands Technologies LLC grew its holdings in Sage Therapeutics by 245.3% in the second quarter. Headlands Technologies LLC now owns 3,916 shares of the biopharmaceutical company’s stock worth $43,000 after purchasing an additional 2,782 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in Sage Therapeutics by 66.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 11,742 shares of the biopharmaceutical company’s stock worth $85,000 after purchasing an additional 4,672 shares during the last quarter. Creative Planning purchased a new position in Sage Therapeutics in the third quarter worth $88,000. Lazard Asset Management LLC purchased a new position in Sage Therapeutics in the first quarter worth $127,000. Finally, Quest Partners LLC grew its holdings in 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 purchasing an additional 1,486 shares during the last quarter. 99.22% of the stock is owned by hedge funds and other institutional investors.

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.