Wedbush Research Analysts Raise Earnings Estimates for SAGE

Sage Therapeutics, Inc. (NASDAQ:SAGE) – Wedbush upped their FY2024 earnings estimates for Sage Therapeutics in a research note issued to investors on Wednesday, October 30th. Wedbush analyst L. Chico now anticipates that the biopharmaceutical company will earn ($7.06) per share for the year, up from their previous forecast of ($7.20). Wedbush has a “Neutral” rating and a $8.00 price target on the stock. The consensus estimate for Sage Therapeutics’ current full-year earnings is ($6.43) per share. Wedbush also issued estimates for Sage Therapeutics’ Q4 2024 earnings at ($2.03) EPS, Q2 2025 earnings at ($1.21) EPS, Q3 2025 earnings at ($1.23) EPS, Q4 2025 earnings at ($1.23) EPS and FY2025 earnings at ($5.04) EPS.

A number of other research analysts have also recently issued reports on the stock. 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 report on Wednesday. Scotiabank lowered their price objective 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. Needham & Company LLC reaffirmed a “hold” rating on shares of Sage Therapeutics in a research note on Wednesday. JPMorgan Chase & Co. decreased their target price on Sage Therapeutics from $12.00 to $10.00 and set a “neutral” rating for the company in a research note on Tuesday, August 6th. Finally, HC Wainwright dropped their price target on Sage Therapeutics from $25.00 to $14.00 and set a “neutral” rating on the stock in a research report on Wednesday. Three research analysts have rated the stock with a sell rating, seventeen have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $12.89.

Sage Therapeutics Price Performance

Shares of SAGE stock opened at $6.08 on Friday. The stock has a market cap of $371.91 million, a PE ratio of -1.09 and a beta of 0.91. The stock has a 50-day moving average of $7.48 and a 200-day moving average of $9.97. Sage Therapeutics has a one year low of $5.84 and a one 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) EPS 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 analyst estimates of $10.80 million. Sage Therapeutics had a negative return on equity of 50.29% and a negative net margin of 317.29%. The firm’s revenue for the quarter was up 337.1% on a year-over-year basis. During the same period last year, the firm earned ($2.81) earnings per share.

Institutional Investors Weigh In On Sage Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. grew its holdings in shares of Sage Therapeutics by 21.7% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 45,738 shares of the biopharmaceutical company’s stock valued at $330,000 after acquiring an additional 8,166 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its position in Sage Therapeutics by 66.1% during the third 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 last quarter. Assenagon Asset Management S.A. grew its stake in Sage Therapeutics by 11.3% in the third quarter. Assenagon Asset Management S.A. now owns 186,039 shares of the biopharmaceutical company’s stock valued at $1,343,000 after purchasing an additional 18,814 shares in the last quarter. Creative Planning acquired a new position in shares of Sage Therapeutics during the 3rd quarter worth approximately $88,000. Finally, Inspire Investing LLC increased its position in shares of Sage Therapeutics by 77.0% during the 3rd quarter. Inspire Investing LLC now owns 57,772 shares of the biopharmaceutical company’s stock worth $417,000 after purchasing an additional 25,139 shares during the last quarter. 99.22% of the stock is currently owned by institutional investors and hedge funds.

Sage Therapeutics Company Profile

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.