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

Sage Therapeutics, Inc. (NASDAQ:SAGE) – Stock analysts at Wedbush dropped their Q1 2024 earnings estimates for shares of Sage Therapeutics in a research note issued on Wednesday, April 17th. Wedbush analyst L. Chico now expects that the biopharmaceutical company will post earnings of ($1.92) per share for the quarter, down from their prior forecast of ($1.89). Wedbush has a “Neutral” rating and a $24.00 price objective on the stock. The consensus estimate for Sage Therapeutics’ current full-year earnings is ($6.06) 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:SAGE) last released its quarterly earnings data on Wednesday, February 14th. The biopharmaceutical company reported ($0.55) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.28) by $0.73. Sage Therapeutics had a negative net margin of 626.32% and a negative return on equity of 54.41%. The company had revenue of $77.97 million during the quarter, compared to analysts’ expectations of $60.15 million. During the same period in the previous year, the company earned ($2.47) EPS. The firm’s quarterly revenue was up 2621.5% on a year-over-year basis.

Other equities research analysts have also recently issued reports about the company. Scotiabank cut their target price on Sage Therapeutics from $34.00 to $19.00 and set a “sector outperform” rating on the stock in a research note on Thursday. Royal Bank of Canada boosted their price target on Sage Therapeutics from $21.00 to $26.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 15th. HC Wainwright reissued a “neutral” rating and issued a $28.00 price target on shares of Sage Therapeutics in a research note on Wednesday. Needham & Company LLC reissued a “hold” rating on shares of Sage Therapeutics in a research report on Thursday. Finally, Morgan Stanley boosted their price target on Sage Therapeutics from $20.00 to $22.00 and gave the company an “equal weight” rating in a report on Wednesday, February 28th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Sage Therapeutics presently has an average rating of “Hold” and a consensus price target of $39.28.

Sage Therapeutics Stock Performance

Shares of NASDAQ:SAGE opened at $13.04 on Friday. Sage Therapeutics has a twelve month low of $10.92 and a twelve month high of $59.99. The firm has a 50 day simple moving average of $20.06 and a 200-day simple moving average of $20.96.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of SAGE. Hennion & Walsh Asset Management Inc. grew its position 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 worth $1,247,000 after buying an additional 5,068 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Sage Therapeutics by 1,049.2% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 201,107 shares of the biopharmaceutical company’s stock worth $4,358,000 after acquiring an additional 183,607 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Sage Therapeutics by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 5,319,360 shares of the biopharmaceutical company’s stock valued at $115,271,000 after buying an additional 111,358 shares in the last quarter. Fisher Asset Management LLC grew its holdings in shares of Sage Therapeutics by 8.1% during the 4th quarter. Fisher Asset Management LLC now owns 431,925 shares of the biopharmaceutical company’s stock valued at $9,360,000 after purchasing an additional 32,306 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in 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 buying an additional 163,400 shares during 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.