Sage Therapeutics, Inc. (NASDAQ:SAGE) to Post Q1 2024 Earnings of ($1.64) Per Share, Leerink Partnrs Forecasts

Sage Therapeutics, Inc. (NASDAQ:SAGE) – Analysts at Leerink Partnrs increased their Q1 2024 earnings estimates for shares of Sage Therapeutics in a research report issued on Tuesday, April 9th. Leerink Partnrs analyst M. Goodman now expects that the biopharmaceutical company will earn ($1.64) per share for the quarter, up from their previous estimate of ($1.73). The consensus estimate for Sage Therapeutics’ current full-year earnings is ($6.05) per share. Leerink Partnrs also issued estimates for Sage Therapeutics’ Q2 2024 earnings at ($1.66) EPS, Q3 2024 earnings at ($1.68) EPS, Q4 2024 earnings at ($1.72) EPS, FY2024 earnings at ($6.70) EPS, FY2025 earnings at ($4.20) EPS and FY2026 earnings at ($5.00) EPS.

Several other equities analysts have also recently weighed in on SAGE. Morgan Stanley increased their price objective on shares of Sage Therapeutics from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 28th. HC Wainwright raised their target price on shares of Sage Therapeutics from $25.00 to $28.00 and gave the stock a “neutral” rating in a research note on Thursday, February 15th. JPMorgan Chase & Co. raised their target price on shares of Sage Therapeutics from $24.00 to $29.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 26th. StockNews.com upgraded shares of Sage Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, February 15th. Finally, Stifel Nicolaus decreased their target price on shares of Sage Therapeutics from $22.00 to $20.00 and set a “hold” rating on the stock in a research note on Monday, December 18th. Fifteen investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $41.00.

Sage Therapeutics Stock Performance

SAGE opened at $15.44 on Friday. The company’s 50-day simple moving average is $20.65 and its two-hundred day simple moving average is $21.09. Sage Therapeutics has a 52-week low of $15.28 and a 52-week high of $59.99. The stock has a market capitalization of $928.10 million, a P/E ratio of -1.70 and a beta of 0.86.

Sage Therapeutics (NASDAQ:SAGE) last posted its earnings results on Wednesday, February 14th. The biopharmaceutical company reported ($0.55) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.28) by $0.73. The business had revenue of $77.97 million for the quarter, compared to analysts’ expectations of $60.15 million. Sage Therapeutics had a negative net margin of 626.32% and a negative return on equity of 54.41%. The business’s revenue for the quarter was up 2621.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($2.47) EPS.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. MetLife Investment Management LLC purchased a new position in shares of Sage Therapeutics in the first quarter valued at $34,000. CWM LLC grew its holdings in shares of Sage Therapeutics by 274.2% in the third quarter. CWM LLC now owns 1,205 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 883 shares in the last quarter. KBC Group NV purchased a new position in shares of Sage Therapeutics in the fourth quarter valued at $28,000. China Universal Asset Management Co. Ltd. lifted its position in Sage Therapeutics by 95.5% in the third quarter. China Universal Asset Management Co. Ltd. now owns 1,531 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 748 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in Sage Therapeutics in the first quarter worth $209,000. 99.22% of the stock is owned by hedge funds and other institutional investors.

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.