Sage Therapeutics, Inc. Expected to Earn Q2 2023 Earnings of ($2.60) Per Share (NASDAQ:SAGE)

Posted by on May 6th, 2023

Sage Therapeutics, Inc. (NASDAQ:SAGE – Get Rating) – HC Wainwright upped their Q2 2023 earnings per share (EPS) estimates for shares of Sage Therapeutics in a research note issued on Wednesday, May 3rd. HC Wainwright analyst D. Tsao now anticipates that the biopharmaceutical company will earn ($2.60) per share for the quarter, up from their prior estimate of ($2.61). HC Wainwright has a “Neutral” rating and a $50.00 price target on the stock. The consensus estimate for Sage Therapeutics’ current full-year earnings is ($8.17) per share. HC Wainwright also issued estimates for Sage Therapeutics’ FY2023 earnings at ($9.10) EPS, FY2024 earnings at ($7.26) EPS and FY2025 earnings at $1.44 EPS.

Other equities research analysts have also issued reports about the company. Royal Bank of Canada raised their target price on Sage Therapeutics from $60.00 to $63.00 in a research report on Wednesday. StockNews.com raised Sage Therapeutics from a “sell” rating to a “hold” rating in a research report on Monday, May 1st. Needham & Company LLC reissued a “buy” rating and issued a $70.00 price objective on shares of Sage Therapeutics in a report on Friday, February 17th. Citigroup lifted their price objective on Sage Therapeutics from $40.00 to $46.00 and gave the stock a “neutral” rating in a report on Friday, February 17th. Finally, Mizuho lifted their price objective on Sage Therapeutics from $37.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, February 17th. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $52.46.

Sage Therapeutics Trading Up 2.0 %

NASDAQ SAGE opened at $49.06 on Friday. Sage Therapeutics has a 12 month low of $27.36 and a 12 month high of $50.16. The firm has a market capitalization of $2.93 billion, a P/E ratio of -5.24 and a beta of 1.16. The business has a fifty day simple moving average of $43.94 and a 200 day simple moving average of $41.50.

Sage Therapeutics (NASDAQ:SAGE – Get Rating) last released its quarterly earnings results on Tuesday, May 2nd. The biopharmaceutical company reported ($2.46) EPS for the quarter, beating analysts’ consensus estimates of ($2.50) by $0.04. The business had revenue of $3.30 million during the quarter, compared to analyst estimates of $2.28 million. Sage Therapeutics had a negative return on equity of 42.32% and a negative net margin of 5,932.09%. Sage Therapeutics’s quarterly revenue was up 120.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($2.07) EPS.

Hedge Funds Weigh In On Sage Therapeutics

A number of large investors have recently bought and sold shares of the stock. Pinnacle Associates Ltd. increased its stake in Sage Therapeutics by 8.9% in the 1st quarter. Pinnacle Associates Ltd. now owns 186,985 shares of the biopharmaceutical company’s stock worth $7,846,000 after purchasing an additional 15,204 shares during the period. Barclays PLC increased its stake in shares of Sage Therapeutics by 52.7% during the first quarter. Barclays PLC now owns 147,062 shares of the biopharmaceutical company’s stock valued at $6,171,000 after buying an additional 50,739 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Sage Therapeutics by 23.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 32,681 shares of the biopharmaceutical company’s stock valued at $1,371,000 after buying an additional 6,247 shares during the period. Easterly Investment Partners LLC increased its stake in shares of Sage Therapeutics by 2.9% during the first quarter. Easterly Investment Partners LLC now owns 80,789 shares of the biopharmaceutical company’s stock valued at $3,390,000 after buying an additional 2,288 shares during the period. Finally, Victory Capital Management Inc. increased its stake in shares of Sage Therapeutics by 62.3% during the first quarter. Victory Capital Management Inc. now owns 24,428 shares of the biopharmaceutical company’s stock valued at $1,025,000 after buying an additional 9,379 shares during the period. 85.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Jeffrey M. Jonas sold 11,643 shares of the business’s stock in a transaction that occurred on Friday, February 10th. The stock was sold at an average price of $44.61, for a total value of $519,394.23. Following the completion of the sale, the director now owns 121,981 shares in the company, valued at approximately $5,441,572.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 4.80% of the stock is currently owned by corporate insiders.

About Sage Therapeutics

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SAGE Therapeutics, Inc is a biopharmaceutical company, which engages in the development and commercialization of novel medicines. It targets diseases and disorders of the brain with three key focus areas: depression, neurology, and neuropsychiatry. The company was founded by Steven Marc Paul and Douglas Covey on April 16, 2010, and is headquartered in Cambridge, MA.

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

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