Q1 2024 Earnings Estimate for Sage Therapeutics, Inc. Issued By Wedbush (NASDAQ:SAGE)

Sage Therapeutics, Inc. (NASDAQ:SAGEFree Report) – Analysts at Wedbush cut their Q1 2024 earnings per share estimates for shares of Sage Therapeutics in a research note issued on Wednesday, April 17th. Wedbush analyst L. Chico now anticipates that the biopharmaceutical company will earn ($1.92) per share for the quarter, down from their previous estimate of ($1.89). Wedbush currently has a “Neutral” rating and a $24.00 target price on the stock. The consensus estimate for Sage Therapeutics’ current full-year earnings is ($6.06) per share. Wedbush also issued estimates for Sage Therapeutics’ Q2 2024 earnings at ($2.00) EPS, Q3 2024 earnings at ($2.01) EPS, Q4 2024 earnings at ($2.05) EPS, FY2024 earnings at ($7.98) EPS, FY2025 earnings at ($7.09) EPS, FY2026 earnings at ($4.51) EPS and FY2027 earnings at ($1.89) EPS.

Sage Therapeutics (NASDAQ:SAGEGet Free Report) last posted its quarterly earnings data on Wednesday, February 14th. The biopharmaceutical company reported ($0.55) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.28) by $0.73. Sage Therapeutics had a negative return on equity of 54.41% and a negative net margin of 626.32%. The company had revenue of $77.97 million during the quarter, compared to analyst estimates of $60.15 million. During the same quarter last year, the company earned ($2.47) EPS. The firm’s revenue for the quarter was up 2621.5% on a year-over-year basis.

A number of other research firms have also weighed in on SAGE. TD Cowen reduced their price objective on Sage Therapeutics from $30.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday. Bank of America lowered Sage Therapeutics from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $24.00 to $14.00 in a research report on Wednesday. StockNews.com lowered Sage Therapeutics from a “hold” rating to a “sell” rating in a research report on Friday. HC Wainwright reiterated a “neutral” rating and set a $28.00 target price on shares of Sage Therapeutics in a research note on Wednesday. Finally, JPMorgan Chase & Co. increased their target price on Sage Therapeutics from $24.00 to $29.00 and gave the company an “overweight” rating in a research note on Tuesday, March 26th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $39.28.

View Our Latest Report on Sage Therapeutics

Sage Therapeutics Stock Up 2.3 %

SAGE stock opened at $13.33 on Friday. Sage Therapeutics has a twelve month low of $10.92 and a twelve month high of $59.99. The firm has a market cap of $801.27 million, a PE ratio of -1.47 and a beta of 0.86. The business has a 50 day moving average of $19.64 and a 200 day moving average of $20.86.

Institutional Investors Weigh In On Sage Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Hennion & Walsh Asset Management Inc. raised its holdings in Sage Therapeutics by 8.2% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 66,567 shares of the biopharmaceutical company’s stock valued at $1,247,000 after acquiring an additional 5,068 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Sage Therapeutics by 1,049.2% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 201,107 shares of the biopharmaceutical company’s stock worth $4,358,000 after purchasing an additional 183,607 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Sage Therapeutics by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 5,319,360 shares of the biopharmaceutical company’s stock worth $115,271,000 after purchasing an additional 111,358 shares during the last quarter. Fisher Asset Management LLC increased its holdings in shares of Sage Therapeutics by 8.1% in the fourth quarter. Fisher Asset Management LLC now owns 431,925 shares of the biopharmaceutical company’s stock worth $9,360,000 after purchasing an additional 32,306 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Sage Therapeutics by 52.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 476,506 shares of the biopharmaceutical company’s stock worth $10,326,000 after purchasing an additional 163,400 shares during the last quarter. 99.22% of the stock is owned by institutional investors.

About Sage Therapeutics

(Get Free Report)

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.

Further Reading

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

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