Wedbush Lifts Earnings Estimates for Sage Therapeutics

Sage Therapeutics, Inc. (NASDAQ:SAGE) – Equities researchers at Wedbush lifted their FY2024 earnings estimates for Sage Therapeutics in a research note issued to investors on Thursday, January 23rd. Wedbush analyst L. Chico now anticipates that the biopharmaceutical company will earn ($7.01) per share for the year, up from their previous forecast of ($7.06). Wedbush currently has a “Neutral” rating and a $8.00 target price on the stock. The consensus estimate for Sage Therapeutics’ current full-year earnings is ($6.47) per share. Wedbush also issued estimates for Sage Therapeutics’ Q4 2024 earnings at ($1.98) EPS, Q1 2025 earnings at ($1.24) EPS, Q2 2025 earnings at ($1.00) EPS, Q3 2025 earnings at ($0.95) EPS, Q4 2025 earnings at ($0.93) EPS, FY2025 earnings at ($4.11) EPS, FY2026 earnings at ($2.63) EPS, FY2027 earnings at ($0.36) EPS and FY2028 earnings at ($0.08) EPS.

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

Other research analysts have also issued research reports about the stock. Scotiabank reduced their target price on shares of Sage Therapeutics from $17.00 to $14.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, October 30th. TD Cowen cut their price objective on shares of Sage Therapeutics from $10.00 to $9.00 and set a “hold” rating on the stock in a report on Thursday, November 21st. Stifel Nicolaus lowered their target price on shares of Sage Therapeutics from $10.00 to $6.00 and set a “hold” rating for the company in a report on Monday, December 16th. Truist Financial cut their price target on Sage Therapeutics from $13.00 to $8.00 and set a “hold” rating on the stock in a research note on Wednesday, October 30th. Finally, 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 research note on Wednesday, October 9th. Three research analysts have rated the stock with a sell rating, sixteen have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Sage Therapeutics has a consensus rating of “Hold” and a consensus target price of $10.53.

Sage Therapeutics Stock Up 1.1 %

Sage Therapeutics stock opened at $7.10 on Monday. The business’s 50-day simple moving average is $5.83 and its 200 day simple moving average is $7.31. The stock has a market cap of $434.31 million, a price-to-earnings ratio of -1.27 and a beta of 0.91. Sage Therapeutics has a 12-month low of $4.62 and a 12-month high of $27.67.

Hedge Funds Weigh In On Sage Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. raised its stake in shares of Sage Therapeutics by 66.1% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 11,742 shares of the biopharmaceutical company’s stock valued at $85,000 after purchasing an additional 4,672 shares during the period. Creative Planning acquired a new stake in Sage Therapeutics in the 3rd quarter valued at approximately $88,000. SG Americas Securities LLC lifted its stake in Sage Therapeutics by 57.7% in the 4th quarter. SG Americas Securities LLC now owns 22,498 shares of the biopharmaceutical company’s stock valued at $122,000 after acquiring an additional 8,228 shares in the last quarter. Quest Partners LLC boosted its position in Sage Therapeutics by 56.3% during the 3rd quarter. Quest Partners LLC now owns 18,381 shares of the biopharmaceutical company’s stock worth $133,000 after acquiring an additional 6,618 shares during the last quarter. Finally, Intech Investment Management LLC bought a new position in shares of Sage Therapeutics during the 3rd quarter worth approximately $146,000. 99.22% of the stock is owned by institutional investors and hedge funds.

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.