Analysts Expect Sage Therapeutics, Inc. (NASDAQ:SAGE) Will Announce Earnings of -$2.03 Per Share

Wall Street analysts forecast that Sage Therapeutics, Inc. (NASDAQ:SAGEGet Rating) will report earnings per share (EPS) of ($2.03) for the current quarter, Zacks Investment Research reports. Eleven analysts have issued estimates for Sage Therapeutics’ earnings, with the lowest EPS estimate coming in at ($2.51) and the highest estimate coming in at ($0.78). Sage Therapeutics reported earnings per share of ($1.83) in the same quarter last year, which suggests a negative year over year growth rate of 10.9%. The business is expected to issue its next earnings results on Monday, January 1st.

On average, analysts expect that Sage Therapeutics will report full year earnings of ($8.66) per share for the current fiscal year, with EPS estimates ranging from ($10.17) to ($7.55). For the next financial year, analysts anticipate that the business will post earnings of ($7.33) per share, with EPS estimates ranging from ($9.97) to ($4.09). Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that follow Sage Therapeutics.

Sage Therapeutics (NASDAQ:SAGEGet Rating) last released its earnings results on Tuesday, May 3rd. The biopharmaceutical company reported ($2.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.06) by ($0.01). The firm had revenue of $1.58 million for the quarter, compared to analyst estimates of $3.23 million. Sage Therapeutics had a negative net margin of 7,676.91% and a negative return on equity of 27.23%. The business’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.64) EPS.

A number of equities analysts have issued reports on SAGE shares. Berenberg Bank started coverage on Sage Therapeutics in a report on Thursday, March 31st. They set a “hold” rating and a $37.00 price target on the stock. SVB Leerink cut their price target on Sage Therapeutics from $60.00 to $50.00 and set a “market perform” rating on the stock in a report on Friday, February 25th. Truist Financial cut their price target on Sage Therapeutics from $60.00 to $40.00 and set a “hold” rating on the stock in a report on Wednesday, March 9th. Morgan Stanley cut their price target on Sage Therapeutics from $61.00 to $57.00 and set an “equal weight” rating on the stock in a report on Thursday, March 10th. Finally, Canaccord Genuity Group cut their price target on Sage Therapeutics from $95.00 to $64.00 and set a “buy” rating on the stock in a report on Friday, February 25th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $62.95.

NASDAQ:SAGE traded up $1.19 on Friday, reaching $30.71. 653,428 shares of the stock traded hands, compared to its average volume of 638,893. The firm has a market capitalization of $1.81 billion, a price-to-earnings ratio of -3.73 and a beta of 1.57. The company’s 50 day moving average is $33.35 and its 200-day moving average is $37.87. Sage Therapeutics has a 1-year low of $27.36 and a 1-year high of $79.45.

In related news, Director George Golumbeski acquired 8,000 shares of the company’s stock in a transaction on Thursday, May 5th. The shares were acquired at an average cost of $31.45 per share, for a total transaction of $251,600.00. Following the purchase, the director now owns 8,000 shares in the company, valued at $251,600. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 4.70% of the stock is currently owned by company insiders.

Several institutional investors have recently made changes to their positions in SAGE. Wellington Management Group LLP increased its holdings in Sage Therapeutics by 16.5% in the 3rd quarter. Wellington Management Group LLP now owns 6,769,933 shares of the biopharmaceutical company’s stock worth $299,976,000 after acquiring an additional 957,993 shares during the last quarter. Vanguard Group Inc. increased its holdings in Sage Therapeutics by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 4,625,003 shares of the biopharmaceutical company’s stock worth $153,088,000 after acquiring an additional 46,762 shares during the last quarter. Bellevue Group AG increased its holdings in Sage Therapeutics by 0.6% in the 4th quarter. Bellevue Group AG now owns 3,228,004 shares of the biopharmaceutical company’s stock worth $137,319,000 after acquiring an additional 19,000 shares during the last quarter. BlackRock Inc. increased its holdings in Sage Therapeutics by 0.8% in the 3rd quarter. BlackRock Inc. now owns 2,874,555 shares of the biopharmaceutical company’s stock worth $127,371,000 after acquiring an additional 24,057 shares during the last quarter. Finally, State Street Corp increased its holdings in Sage Therapeutics by 9.7% in the 4th quarter. State Street Corp now owns 2,168,530 shares of the biopharmaceutical company’s stock worth $92,249,000 after acquiring an additional 192,578 shares during the last quarter. 84.40% of the stock is owned by hedge funds and other institutional investors.

About Sage Therapeutics (Get Rating)

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, treatment resistant disorders, generalized anxiety disorders, and bipolar depression; 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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Earnings History and Estimates for Sage Therapeutics (NASDAQ:SAGE)

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