Sage Therapeutics Exceeds Q4 Revenue Expectations
Sage Therapeutics, Inc. (NASDAQ: SAGE) pleasantly surprised investors with its fourth-quarter revenue results, which exceeded expectations. The company reported quarterly sales of $77.97 million and a loss per share of 55 cents. This performance outpaced market estimates of $60.98 million in revenue, as indicated by data from Benzinga Pro.
Barry Greene, Chief Executive Officer at Sage Therapeutics, expressed pride in the team’s accomplishments during the pivotal year of 2023. He particularly highlighted the launch of ZURZUVAE, the first-and-only once-daily oral treatment for adults with postpartum depression, as a significant achievement. Greene stated optimism about the potential impact of ZURZUVAE in treating this devastating disease and the early progress seen in its launch.
Despite these positive results, Sage Therapeutics shares experienced a minimal decline of 0.2% on Thursday, trading at $25.71.
Analysts Raise Price Targets
Following the release of Sage Therapeutics’ quarterly results, analysts have made upward revisions to their price targets for the company:
- RBC Capital elevated the price target on Sage Therapeutics from $21 to $26. Brian Abrahams, an analyst at RBC Capital, maintained a Sector Perform rating.
- HC Wainwright & Co. increased the price target on Sage Therapeutics from $25 to $28. Douglas Tsao, an analyst at HC Wainwright & Co., maintained a Neutral rating.
These modifications reflect the analysts’ confidence in the company’s future performance and potential for growth.
Alongside these developments, enthusiasts of the stock market may be interested in exploring the top health care stocks to consider for February.
