Analysts expect Sage Therapeutics, Inc. (NASDAQ:SAGE) to announce $1.95 million in sales for the current quarter, Zacks Investment Research reports. Ten analysts have made estimates for Sage Therapeutics’ earnings. The highest sales estimate is $3.30 million and the lowest is $900,000.00. Sage Therapeutics reported sales of $2.29 million during the same quarter last year, which indicates a negative year over year growth rate of 14.8%. The company is scheduled to report its next quarterly earnings report before the market opens on Tuesday, May 4th.
According to Zacks, 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 financial 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 Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Sage Therapeutics.
Sage Therapeutics (NASDAQ:SAGE) last posted its quarterly earnings results on Tuesday, May 4th. The biopharmaceutical company reported ($1.64) earnings per share (EPS) for the quarter, beating the 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 the consensus estimate of $2.03 million. During the same quarter last year, the firm posted ($2.44) EPS. Sage Therapeutics’s revenue was down 30.8% compared to the same quarter last year.
A number of equities analysts have issued reports on SAGE shares. Wedbush lifted their price objective on shares of Sage Therapeutics from $83.00 to $98.00 and gave the stock an “outperform” rating in a report on Tuesday, January 19th. HC Wainwright reaffirmed a “neutral” rating and set a $86.00 price objective (up from $74.00) on shares of Sage Therapeutics in a report on Thursday, February 25th. Morgan Stanley cut their price objective on shares of Sage Therapeutics from $87.00 to $81.00 and set an “equal weight” rating on the stock in a report on Monday, April 26th. BMO Capital Markets downgraded shares of Sage Therapeutics from an “outperform” rating to a “market perform” rating and set a $95.00 price objective on the stock. in a report on Friday, January 22nd. Finally, Royal Bank of Canada downgraded shares of Sage Therapeutics from an “outperform” rating to a “sector perform” rating and lifted their price objective for the stock from $83.00 to $86.00 in a report on Monday, January 4th. They noted that the move was a valuation call. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $86.69.
A number of institutional investors have recently made changes to their positions in the stock. Janus Henderson Group PLC raised its stake in Sage Therapeutics by 22.2% in the 4th quarter. Janus Henderson Group PLC now owns 1,978,811 shares of the biopharmaceutical company’s stock valued at $171,190,000 after acquiring an additional 359,110 shares during the period. Artisan Partners Limited Partnership increased 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 valued at $137,805,000 after buying an additional 159,484 shares during the period. Jennison Associates LLC increased 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 valued at $48,789,000 after buying an additional 125,603 shares during the period. Norges Bank bought a new stake in shares of Sage Therapeutics during the fourth quarter valued at about $44,045,000. Finally, Artal Group S.A. increased 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 valued at $34,604,000 after buying an additional 177,700 shares during the period.
SAGE traded down $7.82 during mid-day trading on Thursday, reaching $71.14. 1,078,172 shares of the stock were exchanged, compared to its average volume of 495,029. The stock has a market capitalization of $4.16 billion, a PE ratio of -7.00 and a beta of 2.23. The company has a 50 day moving average price of $76.05 and a two-hundred day moving average price of $79.12. Sage Therapeutics has a 1 year low of $33.82 and a 1 year high of $98.39.
About Sage Therapeutics
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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