Zacks: Brokerages Anticipate Sage Therapeutics, Inc. (NASDAQ:SAGE) Will Post Quarterly Sales of $2.04 Million

Equities analysts expect Sage Therapeutics, Inc. (NASDAQ:SAGE) to post $2.04 million in sales for the current fiscal quarter, Zacks Investment Research reports. Ten analysts have provided estimates for Sage Therapeutics’ earnings, with the highest sales estimate coming in at $2.50 million and the lowest estimate coming in at $1.50 million. Sage Therapeutics posted sales of $1.09 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 87.2%. The business is scheduled to report its next earnings results on Monday, August 9th.

According to Zacks, analysts expect that Sage Therapeutics will report full year sales of $9.03 million for the current financial year, with estimates ranging from $6.54 million to $12.22 million. For the next financial year, analysts expect that the company will post sales of $97.68 million, with estimates ranging from $11.10 million to $249.10 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Sage Therapeutics.

Sage Therapeutics (NASDAQ:SAGE) last announced its quarterly earnings results on Tuesday, May 4th. The biopharmaceutical company reported ($1.64) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.98) by $0.34. Sage Therapeutics had a negative return on equity of 32.31% and a net margin of 57.21%. The firm had revenue of $1.58 million for the quarter, compared to the consensus estimate of $2.03 million. During the same period in the prior year, the company posted ($2.44) earnings per share. The company’s quarterly revenue was down 30.8% on a year-over-year basis.

A number of research firms have weighed in on SAGE. Stifel Nicolaus lowered their target price on Sage Therapeutics from $121.00 to $95.00 and set a “buy” rating on the stock in a report on Wednesday, June 16th. SVB Leerink lowered their target price on Sage Therapeutics from $90.00 to $70.00 and set a “market perform” rating on the stock in a report on Wednesday, June 16th. Oppenheimer increased their target price on Sage Therapeutics from $90.00 to $102.00 and gave the company an “outperform” rating in a report on Thursday, February 25th. Piper Sandler began coverage on Sage Therapeutics in a report on Wednesday, April 7th. They issued an “overweight” rating and a $100.00 target price on the stock. Finally, BMO Capital Markets decreased their price objective on Sage Therapeutics from $87.00 to $73.00 and set a “market perform” rating on the stock in a research note on Wednesday, June 16th. Eleven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $84.94.

SAGE stock opened at $55.69 on Wednesday. Sage Therapeutics has a fifty-two week low of $40.35 and a fifty-two week high of $98.39. The firm has a 50-day moving average price of $71.37. The company has a market capitalization of $3.26 billion, a P/E ratio of 4.68 and a beta of 2.02.

In other news, CEO Barry E. Greene purchased 8,800 shares of the business’s stock in a transaction on Wednesday, June 16th. The stock was acquired at an average price of $56.32 per share, for a total transaction of $495,616.00. Following the acquisition, the chief executive officer now directly owns 8,800 shares of the company’s stock, valued at approximately $495,616. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James M. Frates purchased 1,810 shares of the business’s stock in a transaction on Wednesday, June 16th. The shares were purchased at an average price of $55.10 per share, with a total value of $99,731.00. Following the acquisition, the director now directly owns 1,035 shares in the company, valued at $57,028.50. The disclosure for this purchase can be found here. Company insiders own 4.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. LPL Financial LLC grew its holdings in Sage Therapeutics by 5.2% during the 4th quarter. LPL Financial LLC now owns 3,847 shares of the biopharmaceutical company’s stock valued at $333,000 after buying an additional 189 shares in the last quarter. Commonwealth Equity Services LLC boosted its holdings in shares of Sage Therapeutics by 4.7% in the 1st quarter. Commonwealth Equity Services LLC now owns 4,410 shares of the biopharmaceutical company’s stock worth $330,000 after purchasing an additional 196 shares during the period. Barclays PLC boosted its holdings in shares of Sage Therapeutics by 5.3% in the 4th quarter. Barclays PLC now owns 4,009 shares of the biopharmaceutical company’s stock worth $347,000 after purchasing an additional 203 shares during the period. The PNC Financial Services Group Inc. boosted its holdings in shares of Sage Therapeutics by 24.6% in the 1st quarter. The PNC Financial Services Group Inc. now owns 1,069 shares of the biopharmaceutical company’s stock worth $80,000 after purchasing an additional 211 shares during the period. Finally, Virtus ETF Advisers LLC boosted its holdings in shares of Sage Therapeutics by 2.8% in the 1st quarter. Virtus ETF Advisers LLC now owns 8,852 shares of the biopharmaceutical company’s stock worth $663,000 after purchasing an additional 241 shares during the period. Institutional investors and hedge funds own 89.76% of the company’s stock.

Sage Therapeutics Company Profile

Sage Therapeutics, Inc, a biopharmaceutical company, develops and commercializes medicines to treat central nervous system disorders. Its lead product candidate is ZULRESSO, an intravenous formulation of brexanolone for the treatment of postpartum depression (PPD) in adults. The company's product pipeline also includes zuranolone, a neuroactive steroid, which is in Phase III clinical trials for treating PPD, major depressive disorders, bipolar depression, and generalized anxiety disorders; and SAGE-324, a compound that is in Phase II clinical trial to treat essential tremors, as well as has completed Phase I clinical trial for epilepsy and Parkinson's diseases.

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