Wall Street analysts predict that Sage Therapeutics, Inc. (NASDAQ:SAGE) will announce $1.95 million in sales for the current fiscal quarter, Zacks Investment Research reports. Ten analysts have issued estimates for Sage Therapeutics’ earnings. The lowest sales estimate is $900,000.00 and the highest is $3.30 million. Sage Therapeutics posted sales of $2.29 million in the same quarter last year, which suggests a negative year over year growth rate of 14.8%. The business is expected to report its next earnings report before the market opens on Tuesday, May 4th.
On average, analysts expect that Sage Therapeutics will report full-year sales of $10.70 million for the current fiscal year, with estimates ranging from $7.18 million to $25.10 million. For the next fiscal year, analysts anticipate that the firm will report sales of $122.74 million, with estimates ranging from $11.10 million to $353.90 million. Zacks’ sales averages are an average based on a survey of analysts that follow Sage Therapeutics.
Sage Therapeutics (NASDAQ:SAGE) last posted its quarterly earnings data on Tuesday, May 4th. The biopharmaceutical company reported ($1.64) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.98) by $0.34. Sage Therapeutics had a negative net margin of 7,706.84% and a negative return on equity of 63.81%. The business had revenue of $1.58 million during the quarter, compared to analyst estimates of $2.03 million. During the same quarter last year, the firm posted ($2.44) earnings per share. The business’s revenue for the quarter was down 30.8% compared to the same quarter last year.
Several brokerages recently weighed in on SAGE. BMO Capital Markets cut shares of Sage Therapeutics from an “outperform” rating to a “market perform” rating and set a $95.00 target price on the stock. in a report on Friday, January 22nd. Royal Bank of Canada cut shares of Sage Therapeutics from an “outperform” rating to a “sector perform” rating and raised their target price for the company from $83.00 to $86.00 in a report on Monday, January 4th. They noted that the move was a valuation call. Wedbush raised their target price on shares of Sage Therapeutics from $83.00 to $98.00 and gave the company an “outperform” rating in a report on Tuesday, January 19th. HC Wainwright reaffirmed a “neutral” rating and issued a $86.00 target price (up previously from $74.00) on shares of Sage Therapeutics in a report on Thursday, February 25th. Finally, Oppenheimer raised their target price on shares of Sage Therapeutics from $90.00 to $102.00 and gave the company an “outperform” rating in a report on Wednesday, March 3rd. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Sage Therapeutics has an average rating of “Buy” and an average price target of $86.69.
Shares of NASDAQ SAGE traded down $7.82 during midday trading on Thursday, hitting $71.14. The company’s stock had a trading volume of 1,078,172 shares, compared to its average volume of 495,029. The business’s fifty day simple moving average is $76.05 and its two-hundred day simple moving average is $79.12. Sage Therapeutics has a 1 year low of $33.82 and a 1 year high of $98.39. The firm has a market capitalization of $4.16 billion, a price-to-earnings ratio of -7.00 and a beta of 2.23.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Janus Henderson Group PLC grew its position in shares of Sage Therapeutics by 22.2% during the fourth quarter. Janus Henderson Group PLC now owns 1,978,811 shares of the biopharmaceutical company’s stock worth $171,190,000 after acquiring an additional 359,110 shares during the last quarter. Artisan Partners Limited Partnership grew its position in shares of Sage Therapeutics by 11.1% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,592,933 shares of the biopharmaceutical company’s stock worth $137,805,000 after acquiring an additional 159,484 shares during the last quarter. Jennison Associates LLC grew its position in shares of Sage Therapeutics by 28.7% during the fourth quarter. Jennison Associates LLC now owns 563,968 shares of the biopharmaceutical company’s stock worth $48,789,000 after acquiring an additional 125,603 shares during the last quarter. Norges Bank purchased a new position in shares of Sage Therapeutics during the fourth quarter worth approximately $44,045,000. Finally, Artal Group S.A. grew its position in shares of Sage Therapeutics by 79.9% during the fourth quarter. Artal Group S.A. now owns 400,000 shares of the biopharmaceutical company’s stock worth $34,604,000 after acquiring an additional 177,700 shares during the last quarter.
Sage Therapeutics Company Profile
Sage Therapeutics, Inc, a biopharmaceutical company, develops and commercializes medicines to treat central nervous system disorders. Its lead product candidate is ZULRESSO, an intravenous formulation of brexanolone for the treatment of postpartum depression (PPD) in adults. The company's product pipeline also includes zuranolone, a neuroactive steroid, which is in Phase III clinical trials for treating PPD, major depressive disorders, bipolar depression, and generalized anxiety disorders; and SAGE-324, a compound that is in Phase II clinical trial to treat essential tremors, as well as has completed Phase I clinical trial for epilepsy and Parkinson's diseases.
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