Wedbush Equities Analysts Increase Earnings Estimates for Sage Therapeutics, Inc. (NASDAQ:SAGE)

Sage Therapeutics, Inc. (NASDAQ:SAGE) – Investment analysts at Wedbush increased their Q2 2024 earnings per share (EPS) estimates for shares of Sage Therapeutics in a research report issued to clients and investors on Thursday, April 25th. Wedbush analyst L. Chico now expects that the biopharmaceutical company will earn ($1.83) per share for the quarter, up from their prior estimate of ($2.00). Wedbush currently has a “Neutral” rating and a $24.00 price objective on the stock. The consensus estimate for Sage Therapeutics’ current full-year earnings is ($6.49) per share. Wedbush also issued estimates for Sage Therapeutics’ Q3 2024 earnings at ($1.86) EPS, Q4 2024 earnings at ($1.87) EPS, FY2024 earnings at ($7.36) EPS, FY2025 earnings at ($6.70) EPS, FY2026 earnings at ($4.30) EPS, FY2027 earnings at ($1.94) EPS and FY2028 earnings at ($0.82) EPS.

Other equities research analysts have also issued research reports about the stock. TD Cowen dropped their price objective on shares of Sage Therapeutics from $30.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Morgan Stanley boosted their price target on Sage Therapeutics from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 28th. Canaccord Genuity Group cut their price target on Sage Therapeutics from $21.00 to $17.00 and set a “hold” rating on the stock in a research note on Friday, April 26th. HC Wainwright lowered their price target on Sage Therapeutics from $28.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday, April 26th. Finally, StockNews.com raised Sage Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $37.72.

Sage Therapeutics Price Performance

NASDAQ:SAGE opened at $13.94 on Monday. The firm’s 50-day moving average price is $18.21 and its 200-day moving average price is $20.57. The company has a market capitalization of $838.91 million, a PE ratio of -1.66 and a beta of 0.86. Sage Therapeutics has a 1-year low of $10.92 and a 1-year high of $59.99.

Sage Therapeutics (NASDAQ:SAGE) last issued its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.80) earnings per share for the quarter, missing the consensus estimate of ($1.63) by ($0.17). The firm had revenue of $7.90 million during the quarter, compared to analysts’ expectations of $5.26 million. Sage Therapeutics had a negative return on equity of 56.81% and a negative net margin of 552.52%. Sage Therapeutics’s revenue for the quarter was up 139.4% on a year-over-year basis. During the same period in the previous year, the company earned ($2.46) earnings per share.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. RTW Investments LP purchased a new position in Sage Therapeutics during the third quarter valued at approximately $105,976,000. Jacobs Levy Equity Management Inc. purchased a new stake in Sage Therapeutics in the 3rd quarter worth $8,052,000. Rafferty Asset Management LLC boosted its stake in Sage Therapeutics by 197.1% during the third quarter. Rafferty Asset Management LLC now owns 411,904 shares of the biopharmaceutical company’s stock valued at $8,477,000 after buying an additional 273,257 shares during the last quarter. Hudson Bay Capital Management LP boosted its position in shares of Sage Therapeutics by 1,733.3% during the 3rd quarter. Hudson Bay Capital Management LP now owns 275,000 shares of the biopharmaceutical company’s stock valued at $5,660,000 after acquiring an additional 260,000 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Sage Therapeutics by 3.3% in the 3rd quarter. Wellington Management Group LLP now owns 6,572,260 shares of the biopharmaceutical company’s stock worth $135,257,000 after buying an additional 208,630 shares in the last quarter. 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.