SVB Leerink Analysts Cut Earnings Estimates for Sage Therapeutics, Inc. (NASDAQ:SAGE)

Sage Therapeutics, Inc. (NASDAQ:SAGEGet Rating) – Stock analysts at SVB Leerink decreased their Q3 2022 earnings per share estimates for Sage Therapeutics in a note issued to investors on Tuesday, August 2nd. SVB Leerink analyst M. Goodman now expects that the biopharmaceutical company will earn ($2.23) per share for the quarter, down from their previous estimate of ($2.20). SVB Leerink has a “Market Perform” rating and a $40.00 price objective on the stock. The consensus estimate for Sage Therapeutics’ current full-year earnings is ($8.84) per share. SVB Leerink also issued estimates for Sage Therapeutics’ Q4 2022 earnings at ($2.37) EPS, FY2022 earnings at ($8.80) EPS, FY2023 earnings at ($4.80) EPS, FY2024 earnings at ($4.55) EPS, FY2025 earnings at ($5.40) EPS and FY2026 earnings at ($5.20) EPS.

Other analysts also recently issued reports about the company. Mizuho reduced their price objective on Sage Therapeutics from $41.00 to $37.00 in a research report on Wednesday, May 4th. Stifel Nicolaus reduced their price objective on Sage Therapeutics from $58.00 to $56.00 in a research report on Tuesday. StockNews.com upgraded Sage Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday. The Goldman Sachs Group reduced their price objective on Sage Therapeutics from $85.00 to $73.00 and set a “buy” rating on the stock in a research report on Tuesday, May 24th. Finally, Citigroup reduced their target price on Sage Therapeutics from $41.00 to $40.00 in a research report on Wednesday. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $54.47.

Sage Therapeutics Stock Up 9.4 %

Shares of NASDAQ:SAGE opened at $41.95 on Friday. Sage Therapeutics has a 52-week low of $27.36 and a 52-week high of $47.75. The stock’s fifty day simple moving average is $34.75 and its 200-day simple moving average is $34.94. The company has a market capitalization of $2.48 billion, a P/E ratio of -4.92 and a beta of 1.43.

Sage Therapeutics (NASDAQ:SAGEGet Rating) last issued its quarterly earnings data on Tuesday, August 2nd. The biopharmaceutical company reported ($2.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.12) by ($0.01). Sage Therapeutics had a negative net margin of 8,162.17% and a negative return on equity of 30.10%. The company had revenue of $1.50 million during the quarter, compared to analysts’ expectations of $1.77 million. During the same quarter in the prior year, the company earned ($1.83) earnings per share. The firm’s revenue was down 8.6% compared to the same quarter last year.

Institutional Investors Weigh In On Sage Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in SAGE. Allspring Global Investments Holdings LLC acquired a new stake in Sage Therapeutics during the fourth quarter worth about $3,243,000. State of New Jersey Common Pension Fund D increased its stake in Sage Therapeutics by 5.0% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 68,671 shares of the biopharmaceutical company’s stock worth $2,921,000 after acquiring an additional 3,275 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its stake in Sage Therapeutics by 27.3% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 35,130 shares of the biopharmaceutical company’s stock worth $1,493,000 after acquiring an additional 7,532 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Sage Therapeutics by 21.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,595 shares of the biopharmaceutical company’s stock valued at $323,000 after buying an additional 1,320 shares in the last quarter. Finally, Pinnacle Associates Ltd. grew its stake in shares of Sage Therapeutics by 0.4% in the fourth quarter. Pinnacle Associates Ltd. now owns 178,892 shares of the biopharmaceutical company’s stock valued at $7,610,000 after buying an additional 651 shares in the last quarter. 84.40% of the stock is currently owned by institutional investors and hedge funds.

Sage Therapeutics Company Profile

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Sage Therapeutics, Inc, a biopharmaceutical company, develops and commercializes medicines to treat central nervous system disorders. Its lead product candidate is ZULRESSO, an intravenous formulation of brexanolone for the treatment of postpartum depression (PPD) in adults. The company's product pipeline also includes zuranolone, a neuroactive steroid, which is in Phase III clinical trials for treating PPD, major depressive disorders, treatment resistant disorders, generalized anxiety disorders, and bipolar depression; and SAGE-324, a compound that is in Phase II clinical trial to treat essential tremors, as well as has completed Phase I clinical trial for epilepsy and Parkinson's diseases.

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Earnings History and Estimates for Sage Therapeutics (NASDAQ:SAGE)

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