William Blair Weighs in on Sage Therapeutics, Inc.’s Q3 2024 Earnings (NASDAQ:SAGE)

Sage Therapeutics, Inc. (NASDAQ:SAGE) – Analysts at William Blair increased their Q3 2024 earnings per share estimates for shares of Sage Therapeutics in a report released on Wednesday, July 24th. William Blair analyst T. Lugo now anticipates that the biopharmaceutical company will earn ($1.75) per share for the quarter, up from their previous estimate of ($1.76). The consensus estimate for Sage Therapeutics’ current full-year earnings is ($6.54) per share. William Blair also issued estimates for Sage Therapeutics’ Q4 2024 earnings at ($1.70) EPS, FY2024 earnings at ($7.06) EPS and FY2025 earnings at ($6.48) EPS.

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

Other equities analysts have also issued reports about the company. StockNews.com raised Sage Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, April 27th. The Goldman Sachs Group cut their target price on Sage Therapeutics from $28.00 to $19.00 and set a “neutral” rating on the stock in a research note on Friday, April 26th. TD Cowen lowered their price target on shares of Sage Therapeutics from $30.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Robert W. Baird cut their price objective on shares of Sage Therapeutics from $15.00 to $13.00 and set a “neutral” rating on the stock in a research report on Thursday. Finally, Truist Financial decreased their target price on shares of Sage Therapeutics from $22.00 to $18.00 and set a “hold” rating for the company in a research report on Friday, April 26th. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $33.95.

Sage Therapeutics Stock Up 0.9 %

Shares of NASDAQ:SAGE opened at $10.47 on Friday. The company has a market cap of $630.08 million, a PE ratio of -1.25 and a beta of 0.90. Sage Therapeutics has a fifty-two week low of $9.73 and a fifty-two week high of $41.67. The firm has a 50-day simple moving average of $11.30 and a 200 day simple moving average of $16.92.

Hedge Funds Weigh In On Sage Therapeutics

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Sage Therapeutics by 8.1% during the first quarter. Vanguard Group Inc. now owns 5,751,373 shares of the biopharmaceutical company’s stock worth $107,781,000 after buying an additional 432,013 shares in the last quarter. RTW Investments LP lifted its position in shares of Sage Therapeutics by 0.9% during the 4th quarter. RTW Investments LP now owns 5,197,019 shares of the biopharmaceutical company’s stock valued at $112,619,000 after acquiring an additional 47,537 shares during the last quarter. Bellevue Group AG grew its holdings in shares of Sage Therapeutics by 27.1% in the 1st quarter. Bellevue Group AG now owns 4,465,544 shares of the biopharmaceutical company’s stock worth $83,684,000 after acquiring an additional 952,193 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Sage Therapeutics by 69.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 811,934 shares of the biopharmaceutical company’s stock worth $15,217,000 after purchasing an additional 333,805 shares during the period. Finally, Fisher Asset Management LLC boosted its position in shares of Sage Therapeutics by 8.1% in the 4th quarter. Fisher Asset Management LLC now owns 431,925 shares of the biopharmaceutical company’s stock valued at $9,360,000 after purchasing an additional 32,306 shares during the period. Institutional investors and hedge funds own 99.22% of the company’s stock.

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.