William Blair Analysts Reduce Earnings Estimates for Sage Therapeutics, Inc. (NASDAQ:SAGE)

Sage Therapeutics, Inc. (NASDAQ:SAGE) – Equities research analysts at William Blair lowered their Q2 2024 earnings per share estimates for Sage Therapeutics in a research note issued to investors on Thursday, April 25th. William Blair analyst T. Lugo now anticipates that the biopharmaceutical company will earn ($1.81) per share for the quarter, down from their prior forecast of ($1.69). The consensus estimate for Sage Therapeutics’ current full-year earnings is ($6.49) per share. William Blair also issued estimates for Sage Therapeutics’ Q3 2024 earnings at ($1.76) EPS, Q4 2024 earnings at ($1.73) EPS, FY2024 earnings at ($7.11) EPS, Q1 2025 earnings at ($1.77) EPS, Q2 2025 earnings at ($1.73) EPS, Q3 2025 earnings at ($1.76) EPS and Q4 2025 earnings at ($1.75) EPS.

Sage Therapeutics (NASDAQ:SAGE) last released its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.80) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.63) by ($0.17). Sage Therapeutics had a negative net margin of 552.52% and a negative return on equity of 56.81%. The business had revenue of $7.90 million during the quarter, compared to analyst estimates of $5.26 million. During the same period last year, the business earned ($2.46) EPS. The business’s quarterly revenue was up 139.4% compared to the same quarter last year.

SAGE has been the subject of a number of other research reports. HC Wainwright reduced their price objective on Sage Therapeutics from $28.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday, April 26th. Canaccord Genuity Group decreased their price target on Sage Therapeutics from $21.00 to $17.00 and set a “hold” rating on the stock in a research report on Friday, April 26th. Mizuho lowered their price objective on shares of Sage Therapeutics from $20.00 to $18.00 and set a “neutral” rating for the company in a research report on Friday, April 26th. TD Cowen dropped their target price on Sage Therapeutics from $30.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Finally, Morgan Stanley upped their target price on shares of Sage Therapeutics from $20.00 to $22.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 28th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $37.72.

Sage Therapeutics Price Performance

Shares of Sage Therapeutics stock opened at $13.94 on Monday. The firm has a fifty day moving average price of $18.21 and a two-hundred day moving average price of $20.57. Sage Therapeutics has a fifty-two week low of $10.92 and a fifty-two week high of $59.99. The company has a market cap of $838.91 million, a PE ratio of -1.66 and a beta of 0.86.

Institutional Investors Weigh In On Sage Therapeutics

Several institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP lifted its stake in Sage Therapeutics by 3.3% in the 3rd quarter. Wellington Management Group LLP now owns 6,572,260 shares of the biopharmaceutical company’s stock valued at $135,257,000 after purchasing an additional 208,630 shares during the last quarter. Vanguard Group Inc. lifted its position in Sage Therapeutics by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 5,319,360 shares of the biopharmaceutical company’s stock valued at $115,271,000 after purchasing an additional 111,358 shares during the last quarter. RTW Investments LP increased its stake in Sage Therapeutics by 0.9% in the 4th quarter. RTW Investments LP now owns 5,197,019 shares of the biopharmaceutical company’s stock worth $112,619,000 after purchasing an additional 47,537 shares during the period. Palo Alto Investors LP grew its holdings in shares of Sage Therapeutics by 17.0% in the third quarter. Palo Alto Investors LP now owns 1,005,776 shares of the biopharmaceutical company’s stock worth $20,699,000 after purchasing an additional 146,259 shares during the last quarter. Finally, Fisher Asset Management LLC grew its holdings in Sage Therapeutics by 8.1% in the 4th quarter. Fisher Asset Management LLC now owns 431,925 shares of the biopharmaceutical company’s stock worth $9,360,000 after acquiring an additional 32,306 shares during the last quarter. 99.22% of the stock is currently owned by institutional investors.

Sage Therapeutics Company Profile

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.