Sage Therapeutics (NASDAQ:SAGE) Issues Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Sage Therapeutics (NASDAQ:SAGE) released its quarterly earnings results on Wednesday. The biopharmaceutical company reported ($1.70) earnings per share for the quarter, missing the consensus estimate of ($1.68) by ($0.02), Briefing.com reports. Sage Therapeutics had a negative return on equity of 55.87% and a negative net margin of 458.30%. The business had revenue of $8.65 million during the quarter, compared to the consensus estimate of $8.85 million. During the same quarter in the previous year, the business posted ($2.68) earnings per share. The firm’s revenue was up 249.8% on a year-over-year basis.

Sage Therapeutics Stock Performance

Sage Therapeutics stock traded down $0.16 during trading hours on Friday, hitting $9.60. The company had a trading volume of 1,261,242 shares, compared to its average volume of 980,624. The firm has a market cap of $586.08 million, a P/E ratio of -1.14 and a beta of 0.90. Sage Therapeutics has a 1 year low of $9.31 and a 1 year high of $37.17. The company has a 50-day moving average price of $11.15 and a two-hundred day moving average price of $16.27.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Bank of America downgraded shares of Sage Therapeutics from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $24.00 to $14.00 in a research report on Wednesday, April 17th. HC Wainwright restated a “neutral” rating and set a $25.00 price objective on shares of Sage Therapeutics in a research report on Friday. Scotiabank decreased their price objective on shares of Sage Therapeutics from $19.00 to $17.00 and set a “sector outperform” rating on the stock in a research report on Thursday, July 25th. Canaccord Genuity Group decreased their price objective on shares of Sage Therapeutics from $21.00 to $17.00 and set a “hold” rating on the stock in a research report on Friday, April 26th. Finally, The Goldman Sachs Group decreased their price objective on shares of Sage Therapeutics from $19.00 to $11.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. Two research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $33.25.

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.