SAGE Therapeutics Inc (NASDAQ:SAGE) – Investment analysts at Piper Jaffray Companies decreased their Q2 2019 earnings per share (EPS) estimates for shares of SAGE Therapeutics in a report issued on Thursday, May 2nd. Piper Jaffray Companies analyst D. Brill now expects that the biopharmaceutical company will post earnings per share of ($3.35) for the quarter, down from their previous forecast of ($3.21). Piper Jaffray Companies also issued estimates for SAGE Therapeutics’ Q3 2019 earnings at ($3.47) EPS, Q4 2019 earnings at ($3.52) EPS, FY2019 earnings at ($13.70) EPS, Q2 2020 earnings at ($3.29) EPS, Q3 2020 earnings at ($3.31) EPS, FY2020 earnings at ($13.14) EPS, FY2021 earnings at ($9.94) EPS and FY2022 earnings at $0.43 EPS.
SAGE Therapeutics (NASDAQ:SAGE) last issued its earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($3.37) EPS for the quarter, missing analysts’ consensus estimates of ($3.17) by ($0.20). The company had revenue of $0.47 million for the quarter. During the same quarter in the prior year, the company earned ($1.68) earnings per share.
Several other equities analysts also recently issued reports on SAGE. Guggenheim assumed coverage on shares of SAGE Therapeutics in a research note on Friday, February 22nd. They issued a “buy” rating and a $205.00 price objective for the company. ValuEngine downgraded shares of SAGE Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Thursday, April 18th. BidaskClub upgraded shares of SAGE Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, January 17th. Jefferies Financial Group assumed coverage on shares of SAGE Therapeutics in a research note on Thursday, April 25th. They issued a “buy” rating and a $195.00 price objective for the company. Finally, Canaccord Genuity set a $220.00 price objective on shares of SAGE Therapeutics and gave the company a “buy” rating in a research note on Monday, April 8th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and fourteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $201.75.
Shares of SAGE stock opened at $167.34 on Monday. The firm has a market cap of $8.54 billion, a P/E ratio of -20.71 and a beta of 2.87. SAGE Therapeutics has a 12 month low of $79.88 and a 12 month high of $177.14.
Several large investors have recently made changes to their positions in the company. Wealthstreet Investment Advisors LLC purchased a new stake in shares of SAGE Therapeutics in the first quarter valued at about $207,000. State Board of Administration of Florida Retirement System raised its holdings in shares of SAGE Therapeutics by 0.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 62,371 shares of the biopharmaceutical company’s stock valued at $9,920,000 after buying an additional 390 shares during the last quarter. Cornerstone Advisors Inc. raised its holdings in shares of SAGE Therapeutics by 28.3% in the first quarter. Cornerstone Advisors Inc. now owns 308 shares of the biopharmaceutical company’s stock valued at $49,000 after buying an additional 68 shares during the last quarter. Comerica Bank purchased a new stake in shares of SAGE Therapeutics in the first quarter valued at about $278,000. Finally, Picton Mahoney Asset Management purchased a new stake in shares of SAGE Therapeutics in the first quarter valued at about $2,721,000.
In other news, Director Steven M. Paul sold 49,461 shares of the company’s stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $161.02, for a total value of $7,964,210.22. Following the completion of the sale, the director now directly owns 272,777 shares of the company’s stock, valued at $43,922,552.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Stephen Kanes sold 22,948 shares of the company’s stock in a transaction dated Friday, February 8th. The shares were sold at an average price of $150.00, for a total transaction of $3,442,200.00. The disclosure for this sale can be found here. Insiders sold 168,311 shares of company stock valued at $26,760,654 in the last 90 days. 5.10% of the stock is currently owned by insiders.
SAGE Therapeutics Company Profile
SAGE Therapeutics, Inc operates as clinical stage biopharmaceutical company, which engages in the development and commercialization of novel medicines to treat life-altering central nervous system. Its programs include brexanolone, which is an acute interventional treatment for postpartum depression; and SAGE-217, an oral therapy for treatment of various CNS disorders.
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