Sage Therapeutics (NASDAQ:SAGE) Releases Earnings Results, Misses Expectations By $0.17 EPS

Sage Therapeutics (NASDAQ:SAGE) announced its earnings results on Thursday. The biopharmaceutical company reported ($1.80) EPS for the quarter, missing analysts’ consensus estimates of ($1.63) by ($0.17), Briefing.com reports. The business had revenue of $7.90 million for the quarter, compared to the consensus estimate of $5.26 million. Sage Therapeutics had a negative net margin of 552.52% and a negative return on equity of 54.17%. The business’s quarterly revenue was up 139.4% on a year-over-year basis. During the same quarter last year, the firm posted ($2.46) EPS.

Sage Therapeutics Price Performance

Sage Therapeutics stock opened at $13.69 on Friday. The firm has a 50 day moving average of $18.56 and a 200 day moving average of $20.64. Sage Therapeutics has a 12-month low of $10.92 and a 12-month high of $59.99.

Analysts Set New Price Targets

SAGE has been the topic of a number of analyst reports. Scotiabank dropped their price target on shares of Sage Therapeutics from $34.00 to $19.00 and set a “sector outperform” rating on the stock in a research note on Thursday, April 18th. Morgan Stanley upped their price target on shares of Sage Therapeutics from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 28th. TD Cowen dropped their price target on shares of Sage Therapeutics from $30.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Mizuho dropped their price target on shares of Sage Therapeutics from $20.00 to $18.00 and set a “neutral” rating on the stock in a research note on Friday. Finally, Oppenheimer dropped their price target on shares of Sage Therapeutics from $25.00 to $17.00 and set a “market perform” rating on the stock in a research note on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $37.72.

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.