Sage Therapeutics, Inc. (NASDAQ:SAGE – Free Report) – Wedbush decreased their Q1 2024 earnings per share estimates for shares of Sage Therapeutics in a report released on Wednesday, April 17th. Wedbush analyst L. Chico now forecasts that the biopharmaceutical company will earn ($1.92) per share for the quarter, down from their previous estimate of ($1.89). Wedbush currently has a “Neutral” rating and a $24.00 target price on the stock. The consensus estimate for Sage Therapeutics’ current full-year earnings is ($6.06) per share. Wedbush also issued estimates for Sage Therapeutics’ Q2 2024 earnings at ($2.00) EPS, Q3 2024 earnings at ($2.01) EPS, Q4 2024 earnings at ($2.05) EPS, FY2024 earnings at ($7.98) EPS, FY2025 earnings at ($7.09) EPS, FY2026 earnings at ($4.51) EPS and FY2027 earnings at ($1.89) EPS.
Sage Therapeutics (NASDAQ:SAGE – Get Free Report) last issued its earnings results on Wednesday, February 14th. The biopharmaceutical company reported ($0.55) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.28) by $0.73. The firm had revenue of $77.97 million for the quarter, compared to the consensus estimate of $60.15 million. Sage Therapeutics had a negative return on equity of 54.41% and a negative net margin of 626.32%. The company’s revenue was up 2621.5% compared to the same quarter last year. During the same quarter last year, the business posted ($2.47) EPS.
Get Our Latest Analysis on SAGE
Sage Therapeutics Trading Up 3.7 %
NASDAQ SAGE opened at $13.04 on Friday. The stock has a 50 day simple moving average of $20.06 and a two-hundred day simple moving average of $20.96. Sage Therapeutics has a fifty-two week low of $10.92 and a fifty-two week high of $59.99.
Institutional Investors Weigh In On Sage Therapeutics
Hedge funds have recently bought and sold shares of the stock. CWM LLC increased its position in shares of Sage Therapeutics by 274.2% during the 3rd quarter. CWM LLC now owns 1,205 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 883 shares during the last quarter. KBC Group NV purchased a new position in shares of Sage Therapeutics during the 4th quarter worth $28,000. China Universal Asset Management Co. Ltd. boosted its stake in shares of Sage Therapeutics by 95.5% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,531 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 748 shares during the period. MetLife Investment Management LLC acquired a new position in shares of Sage Therapeutics in the first quarter valued at approximately $34,000. Finally, Tower Research Capital LLC TRC boosted its position in Sage Therapeutics by 74.0% during the third quarter. Tower Research Capital LLC TRC now owns 5,050 shares of the biopharmaceutical company’s stock worth $104,000 after purchasing an additional 2,148 shares in the last quarter. 99.22% of the stock is currently owned by institutional investors.
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.
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