Sage Therapeutics Inc. Forecasted to Earn Q3 2016 Earnings of ($1.16) Per Share (SAGE)
Sage Therapeutics Inc. (NASDAQ:SAGE) – Research analysts at Leerink Swann issued their Q3 2016 earnings per share (EPS) estimates for Sage Therapeutics in a note issued to investors on Tuesday. Leerink Swann analyst P. Matteis anticipates that the brokerage will post earnings of ($1.16) per share for the quarter. Leerink Swann currently has a “Outperform” rating and a $68.00 target price on the stock. Leerink Swann also issued estimates for Sage Therapeutics’ Q4 2016 earnings at ($1.12) EPS, FY2016 earnings at ($4.34) EPS, FY2017 earnings at ($5.50) EPS, FY2018 earnings at ($5.48) EPS and FY2019 earnings at ($3.14) EPS.
Sage Therapeutics (NASDAQ:SAGE) last released its earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($1.08) earnings per share for the quarter, missing the consensus estimate of ($1.02) by $0.06.
Several other equities research analysts have also weighed in on the stock. Cowen and Company reaffirmed a “buy” rating on shares of Sage Therapeutics in a report on Monday, September 19th. Raymond James Financial Inc. began coverage on shares of Sage Therapeutics in a report on Tuesday, September 13th. They set an “outperform” rating and a $75.00 price objective on the stock. Canaccord Genuity set a $110.00 price objective on shares of Sage Therapeutics and gave the stock a “buy” rating in a report on Tuesday, September 6th. Zacks Investment Research raised shares of Sage Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, August 26th. Finally, BMO Capital Markets reissued a “buy” rating and set a $57.00 price objective on shares of Sage Therapeutics in a report on Friday, August 12th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $67.83.
Sage Therapeutics (NASDAQ:SAGE) opened at 43.50 on Thursday. The stock’s market capitalization is $1.40 billion. The stock has a 50 day moving average of $42.01 and a 200 day moving average of $37.01. Sage Therapeutics has a 52-week low of $26.28 and a 52-week high of $62.64.
In related news, insider Albert Robichaud sold 22,000 shares of the stock in a transaction that occurred on Tuesday, July 12th. The shares were sold at an average price of $40.00, for a total value of $880,000.00. Following the sale, the insider now directly owns 140,222 shares in the company, valued at approximately $5,608,880. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kimi Iguchi sold 5,000 shares of the stock in a transaction that occurred on Tuesday, July 12th. The shares were sold at an average price of $49.55, for a total transaction of $247,750.00. Following the completion of the sale, the chief financial officer now owns 83,739 shares in the company, valued at $4,149,267.45. The disclosure for this sale can be found here. Company insiders own 5.60% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA increased its stake in shares of Sage Therapeutics by 129.1% in the third quarter. BNP Paribas Arbitrage SA now owns 2,369 shares of the biopharmaceutical company’s stock worth $109,000 after buying an additional 1,335 shares in the last quarter. Teacher Retirement System of Texas increased its stake in shares of Sage Therapeutics by 38.2% in the second quarter. Teacher Retirement System of Texas now owns 3,522 shares of the biopharmaceutical company’s stock worth $106,000 after buying an additional 973 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Sage Therapeutics by 17.2% in the first quarter. Legal & General Group Plc now owns 4,146 shares of the biopharmaceutical company’s stock worth $134,000 after buying an additional 607 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of Sage Therapeutics during the second quarter worth $208,000. Finally, Cowen Group Inc. purchased a new stake in shares of Sage Therapeutics during the second quarter worth $211,000. Institutional investors and hedge funds own 82.63% of the company’s stock.
Sage Therapeutics Company Profile
SAGE Therapeutics, Inc is a clinical-stage biopharmaceutical company. The Company is engaged in developing and commercializing medicines to treat central nervous system (CNS) disorders. Its lead product candidate, SAGE-547 is an intravenous formulation of allopregnanolone, a neurosteroid that acts as a synaptic and extrasynaptic modulator of the GABAA receptor.
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