Sage Therapeutics (NASDAQ:SAGE) Announces Earnings Results

Sage Therapeutics (NASDAQ:SAGE) posted its earnings results on Thursday. The biopharmaceutical company reported ($1.80) EPS for the quarter, missing analysts’ consensus estimates of ($1.63) by ($0.17), Briefing.com reports. The firm had revenue of $7.90 million for the quarter, compared to analyst estimates of $5.26 million. Sage Therapeutics had a negative return on equity of 54.41% and a negative net margin of 626.32%. The firm’s revenue for the quarter was up 139.4% on a year-over-year basis. During the same quarter last year, the firm posted ($2.46) EPS.

Sage Therapeutics Price Performance

NASDAQ:SAGE traded up $0.11 on Friday, hitting $13.69. 1,493,679 shares of the company’s stock were exchanged, compared to its average volume of 1,034,531. The company has a market cap of $822.91 million, a P/E ratio of -1.53 and a beta of 0.86. The firm has a 50-day moving average price of $18.75 and a 200-day moving average price of $20.68. Sage Therapeutics has a 52 week low of $10.92 and a 52 week high of $59.99.

Analyst Ratings Changes

A number of research firms recently weighed in on SAGE. Bank of America cut Sage Therapeutics from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $24.00 to $14.00 in a report on Wednesday, April 17th. Royal Bank of Canada cut their target price on shares of Sage Therapeutics from $26.00 to $15.00 and set a “sector perform” rating on the stock in a report on Friday. Scotiabank lowered their price objective on shares of Sage Therapeutics from $34.00 to $19.00 and set a “sector outperform” rating on the stock in a research note on Thursday, April 18th. Needham & Company LLC reiterated a “hold” rating on shares of Sage Therapeutics in a research report on Thursday. Finally, Morgan Stanley lifted their target price on shares of Sage Therapeutics from $20.00 to $22.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 28th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $37.72.

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.