What is Leerink Partnrs’ Forecast for SAGE Q3 Earnings?

Sage Therapeutics, Inc. (NASDAQ:SAGE) – Research analysts at Leerink Partnrs upped their Q3 2024 earnings per share estimates for shares of Sage Therapeutics in a research note issued to investors on Tuesday, October 15th. Leerink Partnrs analyst M. Goodman now forecasts that the biopharmaceutical company will post earnings of ($1.39) per share for the quarter, up from their prior estimate of ($1.51). The consensus estimate for Sage Therapeutics’ current full-year earnings is ($6.46) per share. Leerink Partnrs also issued estimates for Sage Therapeutics’ Q4 2024 earnings at ($1.36) EPS, FY2024 earnings at ($6.25) EPS, FY2025 earnings at ($2.75) EPS, FY2026 earnings at ($2.65) EPS, FY2027 earnings at ($2.95) EPS and FY2028 earnings at ($3.00) EPS.

Other research analysts also recently issued research reports about the company. Robert W. Baird reduced their price target on Sage Therapeutics from $13.00 to $9.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Royal Bank of Canada downgraded Sage Therapeutics from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $10.00 to $4.00 in a report on Friday, October 4th. Truist Financial dropped their price target on Sage Therapeutics from $18.00 to $13.00 and set a “hold” rating for the company in a research note on Wednesday, August 14th. Wedbush reduced their price objective on shares of Sage Therapeutics from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Sage Therapeutics in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $13.76.

Sage Therapeutics Stock Down 0.8 %

Shares of Sage Therapeutics stock opened at $7.21 on Friday. The company’s fifty day simple moving average is $7.56 and its two-hundred day simple moving average is $10.58. Sage Therapeutics has a 12-month low of $5.84 and a 12-month high of $28.26. The firm has a market cap of $440.17 million, a PE ratio of -0.97 and a beta of 0.91.

Sage Therapeutics (NASDAQ:SAGE) last issued its earnings results on Wednesday, July 31st. The biopharmaceutical company reported ($1.70) EPS for the quarter, missing the consensus estimate of ($1.68) by ($0.02). Sage Therapeutics had a negative return on equity of 55.87% and a negative net margin of 458.30%. The firm had revenue of $8.65 million during the quarter, compared to analysts’ expectations of $8.85 million. During the same period in the previous year, the firm earned ($2.68) earnings per share. The firm’s quarterly revenue was up 249.8% compared to the same quarter last year.

Institutional Investors Weigh In On Sage Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Headlands Technologies LLC boosted its stake in Sage Therapeutics by 245.3% in the 2nd quarter. Headlands Technologies LLC now owns 3,916 shares of the biopharmaceutical company’s stock worth $43,000 after purchasing an additional 2,782 shares in the last quarter. Creative Planning purchased a new stake in shares of Sage Therapeutics during the third quarter valued at approximately $88,000. Lazard Asset Management LLC purchased a new stake in shares of Sage Therapeutics during the first quarter valued at approximately $127,000. Quest Partners LLC increased its position in shares of Sage Therapeutics by 14.5% during the second quarter. Quest Partners LLC now owns 11,763 shares of the biopharmaceutical company’s stock valued at $128,000 after acquiring an additional 1,486 shares in the last quarter. Finally, Point72 DIFC Ltd purchased a new position in Sage Therapeutics in the 2nd quarter worth approximately $153,000. 99.22% of the stock is 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.