Leerink Partnrs Weighs in on Sage Therapeutics, Inc.'s Q1 2024 Earnings (NASDAQ:SAGE)

Sage Therapeutics, Inc. (NASDAQ:SAGE - Free Report) - Research analysts at Leerink Partnrs increased their Q1 2024 earnings per share (EPS) estimates for shares of Sage Therapeutics in a research note issued to investors on Tuesday, April 9th. Leerink Partnrs analyst M. Goodman now expects that the biopharmaceutical company will post earnings per share of ($1.64) for the quarter, up from their prior forecast of ($1.73). The consensus estimate for Sage Therapeutics' current full-year earnings is ($6.09) per share. Leerink Partnrs also issued estimates for Sage Therapeutics' Q2 2024 earnings at ($1.66) EPS, Q3 2024 earnings at ($1.68) EPS, Q4 2024 earnings at ($1.72) EPS, FY2024 earnings at ($6.70) EPS, FY2025 earnings at ($4.20) EPS and FY2026 earnings at ($5.00) EPS.

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) last released its earnings results on Wednesday, February 14th. The biopharmaceutical company reported ($0.55) EPS for the quarter, beating the consensus estimate of ($1.28) by $0.73. The company had revenue of $77.97 million during the quarter, compared to analysts' expectations of $60.15 million. Sage Therapeutics had a negative return on equity of 54.41% and a negative net margin of 626.32%. The business's revenue for the quarter was up 2621.5% on a year-over-year basis. During the same period last year, the firm earned ($2.47) EPS.

Several other research firms have also recently commented on SAGE. JPMorgan Chase & Co. lifted 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. HC Wainwright raised their price target on Sage Therapeutics from $25.00 to $28.00 and gave the stock a "neutral" rating in a research report on Thursday, February 15th. Morgan Stanley raised their price target on Sage Therapeutics from $20.00 to $22.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 28th. StockNews.com upgraded Sage Therapeutics from a "sell" rating to a "hold" rating in a research report on Thursday, February 15th. Finally, Stifel Nicolaus reduced their price target on Sage Therapeutics from $22.00 to $20.00 and set a "hold" rating on the stock in a research report on Monday, December 18th. Fifteen analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Sage Therapeutics presently has a consensus rating of "Hold" and a consensus target price of $41.00.

Sage Therapeutics Price Performance

Shares of NASDAQ SAGE traded down $1.13 during midday trading on Friday, hitting $15.44. The stock had a trading volume of 1,428,977 shares, compared to its average volume of 938,464. The company's 50-day simple moving average is $20.65 and its 200 day simple moving average is $21.09. The firm has a market cap of $928.10 million, a P/E ratio of -1.70 and a beta of 0.86. Sage Therapeutics has a fifty-two week low of $15.28 and a fifty-two week high of $59.99.

Institutional Trading of Sage Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Healthcare of Ontario Pension Plan Trust Fund increased its position 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 valued at $4,358,000 after acquiring an additional 183,607 shares during the last quarter. Vanguard Group Inc. increased its position 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 valued at $115,271,000 after acquiring an additional 111,358 shares during the last quarter. Fisher Asset Management LLC increased its position 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 valued at $9,360,000 after acquiring an additional 32,306 shares during the last quarter. Goldman Sachs Group Inc. increased its position 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 valued at $10,326,000 after acquiring an additional 163,400 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in shares of Sage Therapeutics in the fourth quarter valued at about $1,525,000. Institutional investors and hedge funds 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.