Sage Therapeutics (NASDAQ:SAGE) Releases Quarterly Earnings Results, Misses Estimates By $0.17 EPS

Sage Therapeutics (NASDAQ:SAGE) issued its quarterly earnings results on Thursday. The biopharmaceutical company reported ($1.80) earnings per share for the quarter, missing the consensus estimate of ($1.63) by ($0.17), Briefing.com reports. The business had revenue of $7.90 million for the quarter, compared to analysts’ expectations of $5.26 million. Sage Therapeutics had a negative return on equity of 54.17% and a negative net margin of 552.52%. The company’s revenue was up 139.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($2.46) EPS.

Sage Therapeutics Price Performance

NASDAQ:SAGE opened at $13.69 on Friday. Sage Therapeutics has a twelve month low of $10.92 and a twelve month high of $59.99. The company’s 50-day moving average price is $18.56 and its 200-day moving average price is $20.64.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SAGE. Mizuho dropped their price target on shares of Sage Therapeutics from $20.00 to $18.00 and set a “neutral” rating on the stock in a research note on Friday. StockNews.com upgraded shares of Sage Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday. Wedbush restated a “neutral” rating and set a $24.00 target price on shares of Sage Therapeutics in a research note on Wednesday, April 17th. Oppenheimer lowered their target price on shares of Sage Therapeutics from $25.00 to $17.00 and set a “market perform” rating on the stock in a research note on Thursday, April 18th. Finally, Bank of America cut shares of Sage Therapeutics from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $24.00 to $14.00 in a research note on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, Sage Therapeutics presently has a consensus rating of “Hold” and a consensus target price of $37.72.

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.