What is Leerink Partnrs’ Estimate for SAGE FY2024 Earnings?

Sage Therapeutics, Inc. (NASDAQ:SAGE) – Research analysts at Leerink Partnrs decreased their FY2024 earnings estimates for Sage Therapeutics in a research report issued on Tuesday, October 29th. Leerink Partnrs analyst M. Goodman now forecasts that the biopharmaceutical company will post earnings of ($6.30) per share for the year, down from their prior forecast 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 has been the subject of a number of other reports. The Goldman Sachs Group decreased their target price on shares of Sage Therapeutics from $19.00 to $11.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. Piper Sandler restated an “overweight” rating and set a $26.00 target price (down from $52.00) on shares of Sage Therapeutics in a research report on Wednesday. Scotiabank decreased their target price on shares of Sage Therapeutics from $17.00 to $14.00 and set a “sector outperform” rating for the company in a research report on Wednesday. Bank of America decreased their price objective on shares of 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 decreased their price objective on shares of Sage Therapeutics from $13.00 to $8.00 and set a “hold” rating for the company in a research report on Wednesday. Three analysts have rated the stock with a sell rating, seventeen have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Sage Therapeutics has a consensus rating of “Hold” and a consensus price target of $12.89.

Sage Therapeutics Price Performance

NASDAQ SAGE opened at $6.05 on Friday. The company has a market capitalization of $370.10 million, a PE ratio of -1.08 and a beta of 0.91. The company has a fifty day moving average of $7.44 and a 200 day moving average of $9.95. Sage Therapeutics has a 1 year low of $5.84 and a 1 year high of $28.26.

Sage Therapeutics (NASDAQ:SAGE) last announced its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.52) by ($0.01). The company had revenue of $11.87 million for the quarter, compared to analysts’ expectations of $10.80 million. Sage Therapeutics had a negative net margin of 317.29% and a negative return on equity of 50.29%. Sage Therapeutics’s quarterly revenue was up 337.1% compared to the same quarter last year. During the same period last year, the firm earned ($2.81) earnings per share.

Institutional Trading of Sage Therapeutics

Several large investors have recently bought and sold shares of SAGE. Vanguard Group Inc. grew its stake in Sage Therapeutics by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 5,319,360 shares of the biopharmaceutical company’s stock valued at $115,271,000 after acquiring an additional 111,358 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Sage Therapeutics by 4.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,568 shares of the biopharmaceutical company’s stock valued at $723,000 after acquiring an additional 1,693 shares in the last quarter. Inspire Investing LLC grew its stake in Sage Therapeutics by 9.4% during the 1st quarter. Inspire Investing LLC now owns 19,234 shares of the biopharmaceutical company’s stock valued at $360,000 after acquiring an additional 1,652 shares in the last quarter. ProShare Advisors LLC grew its stake in Sage Therapeutics by 9.0% during the 1st quarter. ProShare Advisors LLC now owns 13,713 shares of the biopharmaceutical company’s stock valued at $257,000 after acquiring an additional 1,130 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System grew its stake in shares of Sage Therapeutics by 9.8% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 16,644 shares of the biopharmaceutical company’s stock valued at $312,000 after buying an additional 1,480 shares during the period. 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.