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Sage Therapeutics

Nasdaq:SAGE
Snowflake Description

Flawless balance sheet and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SAGE
Nasdaq
$2B
Market Cap
  1. Home
  2. US
  3. Pharmaceuticals & Biotech
Company description

Sage Therapeutics, Inc., a clinical-stage biopharmaceutical company, develops and commercializes novel medicines to treat central nervous system (CNS) disorders. The last earnings update was 30 days ago. More info.


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  • Sage Therapeutics has significant price volatility in the past 3 months.
SAGE Share Price and Events
7 Day Returns
18.6%
NasdaqGM:SAGE
5.2%
US Biotechs
10.5%
US Market
1 Year Returns
-80.2%
NasdaqGM:SAGE
0%
US Biotechs
-11.5%
US Market
SAGE Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Sage Therapeutics (SAGE) 18.6% -39.4% -57% -80.2% -55.6% -32.7%
US Biotechs 5.2% -6.5% -8.7% 0% 6.2% -10.4%
US Market 10.5% -15.4% -21.4% -11.5% 5.4% 18.1%
1 Year Return vs Industry and Market
  • SAGE underperformed the Biotechs industry which returned 0% over the past year.
  • SAGE underperformed the Market in United States of America which returned -11.5% over the past year.
Price Volatility
SAGE
Industry
5yr Volatility vs Market
Related Companies

Value

 Is Sage Therapeutics undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Sage Therapeutics to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Sage Therapeutics.

NasdaqGM:SAGE Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 21 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8%
Perpetual Growth Rate 10-Year US Government Bond Rate 1.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqGM:SAGE
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 1.7%
Equity Risk Premium S&P Global 5.4%
Biotechs Unlevered Beta Simply Wall St/ S&P Global 1.2
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.203 (1 + (1- 21%) (2.27%))
1.15
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.15
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.74% + (1.15 * 5.44%)
8%

Discounted Cash Flow Calculation for NasdaqGM:SAGE using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Sage Therapeutics is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

NasdaqGM:SAGE DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 8%)
2020 -584.33 Analyst x7 -541.06
2021 -595.70 Analyst x7 -510.74
2022 -462.10 Analyst x6 -366.86
2023 -269.41 Analyst x5 -198.05
2024 141.86 Analyst x5 96.56
2025 207.64 Est @ 46.37% 130.87
2026 276.12 Est @ 32.98% 161.14
2027 341.30 Est @ 23.61% 184.44
2028 399.48 Est @ 17.05% 199.89
2029 449.24 Est @ 12.46% 208.15
Present value of next 10 years cash flows $-635.00
NasdaqGM:SAGE DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $449.24 × (1 + 1.74%) ÷ (8% – 1.74%)
$7,304.90
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $7,304.90 ÷ (1 + 8%)10
$3,384.57
NasdaqGM:SAGE Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $-635.00 + $3,384.57
$2,749.57
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $2,749.57 / 51.91
$52.97
NasdaqGM:SAGE Discount to Share Price
Calculation Result
Value per share (USD) From above. $52.97
Current discount Discount to share price of $31.54
= -1 x ($31.54 - $52.97) / $52.97
40.5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Sage Therapeutics is available for.
Intrinsic value
40%
Share price is $31.54 vs Future cash flow value of $52.97
Current Discount Checks
For Sage Therapeutics to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Sage Therapeutics's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Sage Therapeutics's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Sage Therapeutics's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Sage Therapeutics's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGM:SAGE PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in USD $-13.38
NasdaqGM:SAGE Share Price ** NasdaqGM (2020-03-27) in USD $31.54
United States of America Biotechs Industry PE Ratio Median Figure of 37 Publicly-Listed Biotechs Companies 15.4x
United States of America Market PE Ratio Median Figure of 2,939 Publicly-Listed Companies 12.96x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Sage Therapeutics.

NasdaqGM:SAGE PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGM:SAGE Share Price ÷ EPS (both in USD)

= 31.54 ÷ -13.38

-2.36x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Sage Therapeutics is loss making, we can't compare its value to the US Biotechs industry average.
  • Sage Therapeutics is loss making, we can't compare the value of its earnings to the United States of America market.
Price based on expected Growth
Does Sage Therapeutics's expected growth come at a high price?
Raw Data
NasdaqGM:SAGE PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -2.36x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 21 Analysts
12%per year
United States of America Biotechs Industry PEG Ratio Median Figure of 34 Publicly-Listed Biotechs Companies 0.96x
United States of America Market PEG Ratio Median Figure of 2,005 Publicly-Listed Companies 1x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Sage Therapeutics, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Sage Therapeutics's assets?
Raw Data
NasdaqGM:SAGE PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in USD $18.21
NasdaqGM:SAGE Share Price * NasdaqGM (2020-03-27) in USD $31.54
United States of America Biotechs Industry PB Ratio Median Figure of 429 Publicly-Listed Biotechs Companies 2.53x
United States of America Market PB Ratio Median Figure of 5,148 Publicly-Listed Companies 1.26x
NasdaqGM:SAGE PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGM:SAGE Share Price ÷ Book Value per Share (both in USD)

= 31.54 ÷ 18.21

1.73x

* Primary Listing of Sage Therapeutics.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Sage Therapeutics is good value based on assets compared to the US Biotechs industry average.
X
Value checks
We assess Sage Therapeutics's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Biotechs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Biotechs industry average (and greater than 0)? (1 check)
  5. Sage Therapeutics has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Sage Therapeutics expected to perform in the next 1 to 3 years based on estimates from 21 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
12%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Sage Therapeutics expected to grow at an attractive rate?
  • Unable to compare Sage Therapeutics's earnings growth to the low risk savings rate as it is expected to be loss making during the next 1-3 years.
Growth vs Market Checks
  • Unable to compare Sage Therapeutics's earnings growth to the United States of America market average as it is expected to be loss making during the next 1-3 years.
  • Sage Therapeutics's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqGM:SAGE Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGM:SAGE Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 21 Analysts 12%
NasdaqGM:SAGE Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 21 Analysts 50.1%
United States of America Biotechs Industry Earnings Growth Rate Market Cap Weighted Average 18.6%
United States of America Biotechs Industry Revenue Growth Rate Market Cap Weighted Average 15.7%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 12.3%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqGM:SAGE Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 21 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGM:SAGE Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31 788 413 -258 10
2023-12-31 429 -153 -528 11
2022-12-31 303 -436 -588 17
2021-12-31 139 -539 -659 21
2020-12-31 30 -559 -698 21
2020-03-28
NasdaqGM:SAGE Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-12-31 7 -529 -680
2019-09-30 5 -514 -670
2019-06-30 2 -465 -613
2019-03-31 91 -332 -462
2018-12-31 90 -261 -373
2018-09-30 90 -218 -284
2018-06-30 90 -184 -235
2018-03-31 -243 -288
2017-12-31 -219 -270
2017-09-30 -194 -257
2017-06-30 -179 -221
2017-03-31 -146 -185

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Sage Therapeutics is not considered high growth as it is expected to be loss making for the next 1-3 years.
  • Sage Therapeutics's revenue is expected to grow significantly at over 20% yearly.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqGM:SAGE Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 21 Analyst Estimates (S&P Global) See Below

All data from Sage Therapeutics Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGM:SAGE Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-12-31 -3.12 4.05 -7.33 7.00
2023-12-31 -7.28 -1.36 -12.16 8.00
2022-12-31 -8.39 -4.39 -11.17 12.00
2021-12-31 -11.13 -8.94 -14.91 16.00
2020-12-31 -13.18 -11.44 -14.52 16.00
2020-03-28
NasdaqGM:SAGE Past Financials Data
Date (Data in USD Millions) EPS *
2019-12-31 -13.38
2019-09-30 -13.51
2019-06-30 -12.68
2019-03-31 -9.79
2018-12-31 -8.08
2018-09-30 -6.38
2018-06-30 -5.57
2018-03-31 -7.22
2017-12-31 -7.09
2017-09-30 -6.87
2017-06-30 -6.09
2017-03-31 -5.31

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Sage Therapeutics will efficiently use shareholders’ funds in the future (Return on Equity greater than 20%) as it is not expected to be profitable.
X
Future performance checks
We assess Sage Therapeutics's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Sage Therapeutics has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Sage Therapeutics performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Sage Therapeutics's growth in the last year to its industry (Biotechs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Sage Therapeutics does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Sage Therapeutics's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Sage Therapeutics's 1-year growth to the US Biotechs industry average as it is not currently profitable.
Earnings and Revenue History
Sage Therapeutics's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Sage Therapeutics Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGM:SAGE Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 6.87 -680.24 345.78
2019-09-30 5.18 -669.97 336.34
2019-06-30 1.61 -612.93 301.53
2019-03-31 90.74 -461.69 256.47
2018-12-31 90.27 -372.88 201.40
2018-09-30 90.00 -283.92 145.27
2018-06-30 90.00 -234.72 107.66
2018-03-31 -287.94 79.45 -45.20
2017-12-31 -270.12 62.88
2017-09-30 -256.60 57.69 42.00
2017-06-30 -220.68 50.60 71.08
2017-03-31 -185.22 44.55 142.38
2016-12-31 -158.99 39.41
2016-09-30 -131.65 33.27 99.13
2016-06-30 -117.89 30.88 87.53
2016-03-31 -108.17 28.43 80.04
2015-12-31 -94.50 25.29 69.36
2015-09-30 -78.29 20.47 57.93
2015-06-30 -64.12 16.74 47.05
2015-03-31 -46.86 12.09 32.83
2014-12-31 -36.11 9.71 24.10
2014-09-30 -29.47 7.50 19.67
2014-06-30 -24.13 5.74 16.47
2014-03-31 -21.02 4.73 15.95
2013-12-31 -18.29 3.92 14.36

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Sage Therapeutics has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Sage Therapeutics has efficiently used its assets last year compared to the US Biotechs industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Sage Therapeutics improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Sage Therapeutics's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Biotechs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Sage Therapeutics has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Sage Therapeutics's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Sage Therapeutics's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Sage Therapeutics is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Sage Therapeutics's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Sage Therapeutics's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Sage Therapeutics has no debt, it does not need to be covered by short term assets.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Sage Therapeutics Company Filings, last reported 2 months ago.

NasdaqGM:SAGE Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 944.66 0.00 1,008.39
2019-09-30 1,081.07 0.00 1,122.25
2019-06-30 1,202.88 0.00 1,236.55
2019-03-31 1,319.53 0.00 1,351.25
2018-12-31 862.97 0.00 922.78
2018-09-30 988.51 0.00 1,021.40
2018-06-30 1,077.76 0.00 1,092.43
2018-03-31 1,059.28 0.00 1,083.51
2017-12-31 475.48 0.00 518.85
2017-09-30 200.05 0.00 243.45
2017-06-30 260.30 0.00 285.93
2017-03-31 318.45 0.00 342.56
2016-12-31 368.52 0.00 397.48
2016-09-30 413.74 0.00 431.27
2016-06-30 257.21 0.00 272.30
2016-03-31 287.50 0.00 299.68
2015-12-31 173.70 0.00 186.75
2015-09-30 198.10 0.00 204.88
2015-06-30 217.45 0.00 224.23
2015-03-31 106.51 0.00 113.16
2014-12-31 121.89 0.00 127.77
2014-09-30 132.92 0.00 136.73
2014-06-30 47.68 0.00 49.13
2014-03-31 53.65 0.00 55.43
2013-12-31 6.17 0.00 8.07
  • Sage Therapeutics has no debt.
  • Sage Therapeutics has not taken on any debt in the past 5 years.
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Sage Therapeutics has sufficient cash runway for 1.9 years based on current free cash flow.
  • Sage Therapeutics has sufficient cash runway for 1.7 years if free cash flow continues to grow at historical rates of 45.4% each year.
X
Financial health checks
We assess Sage Therapeutics's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Sage Therapeutics has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Sage Therapeutics's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Sage Therapeutics dividends. Estimated to be 0% next year.
If you bought $2,000 of Sage Therapeutics shares you are expected to receive $0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Sage Therapeutics's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Sage Therapeutics's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqGM:SAGE Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 21 Analyst Estimates (S&P Global) See Below
Global Biotechs Industry Average Dividend Yield Market Cap Weighted Average of 65 Stocks 2.3%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1949 Stocks 3%
United States of America Minimum Threshold Dividend Yield 10th Percentile 1.1%
United States of America Bottom 25% Dividend Yield 25th Percentile 2%
United States of America Top 25% Dividend Yield 75th Percentile 5.4%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqGM:SAGE Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2024-12-31
2023-12-31
2022-12-31 0.00 2.00
2021-12-31 0.00 3.00
2020-12-31 0.00 3.00
2020-03-28

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Sage Therapeutics has not reported any payouts.
  • Unable to verify if Sage Therapeutics's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Sage Therapeutics's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Sage Therapeutics has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of Sage Therapeutics's dividends in 3 years as they are not expected to pay a notable one for United States of America.
X
Income/ dividend checks
We assess Sage Therapeutics's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Sage Therapeutics afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Sage Therapeutics has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Sage Therapeutics's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Jeff Jonas
COMPENSATION $9,824,582
AGE 66
TENURE AS CEO 6.6 years
CEO Bio

Dr. Jeffrey M. Jonas, also known as Jeff, M.D., has been the President and Chief Executive Officer of Sage Therapeutics, Inc. since joined it in August 2013. Dr. Jonas serves as Director of Generation Bio Co. Dr. Jonas has extensive experience on both the science and business sides of the pharmaceutical and healthcare industries. Dr. Jonas served as Chief Medical Officer and Vice President Clinical Development at Pharmacia & Upjohn Company, LLC. Dr. Jonas served as the President of Regenerative Medicine (RM) Business at Shire plc since November 15, 2012. Dr. Jonas served as the President of Shire's Regenerative Medicine (RM) business at Advanced BioHealing, Inc. since November 15, 2012. He served as Senior Vice President of research and development - pharmaceuticals business at Shire plc since August 2008. Dr. Jonas served as an Executive Vice President of ISIS Pharmaceuticals Inc., from February 1, 2007 to July 21, 2008. He led Clinical Development, Preclinical Development, Regulatory Affairs and Quality Assurance and Compliance at Isis. He was broadly responsible for the entire pipeline, both partnered and unpartnered and contribute to portfolio management of Isis. Dr. Jonas served as Chief Medical Officer and Executive Vice President of Forest Laboratories, Inc. and was responsible for Clinical Development, Medical Affairs, Pharmacovigilence and External Scientific Affairs since 2006. He joined Forest in 2003 as Vice President of Central Nervous System Area and its Senior Vice President of Clinical Development since 2005. His initial experience in the pharmaceutical industry began in 1991 at Upjohn Laboratories initially as Director of Psychopharmacology and Vice President of Worldwide Pharmaceutical Regulatory Affairs after several promotions ultimately as Chief Medical Officer & Vice President of Clinical Development. He was responsible for numerous successful INDs and NDAs for drugs in a wide range of therapeutic classes. Dr. Jonas founded AVAX Technologies Inc. and served as its Chief Executive Officer and President until February 28, 2001. During his tenure, he led AVAX through several successful financings, including an initial public offering in 1997. In 2001, he founded Evogen, Inc. served as Chairman, President and Chief Technology Officer of Evogen, Inc. He has been a Director of Sage Therapeutics, Inc. since August 2013. He has been a Director of Decibel Therapeutics, Inc. since December 2015. He has been a Director of National Pharmaceutical Council since August 03, 2011. He served as Independent Director at Cara Therapeutics, Inc. He served as Director of AVAX Technologies since 1998. He served as Chief Resident in psychopharmacology at McClean Hospital, Harvard Medical School. Dr. Jonas has been a Independent Director at Karuna Therapeutics, Inc., since October 17, 2018. Dr. Jonas has published more than 70 scientific papers and chapters and has received a number of awards. He is the author of more than 100 books, scientific articles and abstracts and has given many academic, business and industry presentations. He is a successful entrepreneur. Dr. Jonas received his M.D. from Harvard Medical School in 1979 and completed a residency in psychiatry at Harvard. Dr. Jonas earned his B.A., summa cum laude in Biology and English from Amherst College.

CEO Compensation
  • Jeff's compensation has increased whilst company is loss making.
  • Jeff's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Sage Therapeutics management team in years:

4.5
Average Tenure
57
Average Age
  • The tenure for the Sage Therapeutics management team is about average.
Management Team

Jeff Jonas

TITLE
CEO, President & Director
COMPENSATION
$10M
AGE
66
TENURE
6.6 yrs

Kimi Iguchi

TITLE
CFO & Treasurer
COMPENSATION
$4M
AGE
57
TENURE
7 yrs

Al Robichaud

TITLE
Chief Scientific Officer
COMPENSATION
$4M
AGE
58
TENURE
8.3 yrs

Anne Cook

TITLE
Senior VP
COMPENSATION
$4M
AGE
57
TENURE
4.5 yrs

Mike Cloonan

TITLE
Chief Business Officer
COMPENSATION
$4M
AGE
48
TENURE
2.9 yrs

Heinrich Schlieker

TITLE
Senior Vice President of Technical Operations
TENURE
4.5 yrs

Matt Calistri

TITLE
Vice President of Investor Relations
TENURE
0.8 yrs

Erin Lanciani

TITLE
Senior Vice President of People & Organizational Strategy
AGE
50

Steve Kanes

TITLE
Chief Medical Officer
COMPENSATION
$2M
AGE
54
TENURE
6.7 yrs

Amy Schacterle

TITLE
Senior Vice President of Global Regulatory Affairs & Policy
TENURE
2.9 yrs
Board of Directors Tenure

Average tenure and age of the Sage Therapeutics board of directors in years:

5.8
Average Tenure
59
Average Age
  • The tenure for the Sage Therapeutics board of directors is about average.
Board of Directors

Kevin Starr

TITLE
Chairman
COMPENSATION
$1M
AGE
56

Jeff Jonas

TITLE
CEO, President & Director
COMPENSATION
$10M
AGE
66
TENURE
6.6 yrs

Jim Frates

TITLE
Independent Director
COMPENSATION
$1M
AGE
52
TENURE
5.8 yrs

Mike Cola

TITLE
Independent Director
COMPENSATION
$1M
AGE
59
TENURE
5.5 yrs

Geno Germano

TITLE
Independent Director
COMPENSATION
$1M
AGE
58
TENURE
3.7 yrs

Steve Paul

TITLE
Founder & Director
COMPENSATION
$1M
AGE
68
TENURE
8.5 yrs

Jim Audia

TITLE
Member of Scientific Advisory Board
AGE
62

David Farb

TITLE
Member of Scientific Advisory Board

Christine Marx

TITLE
Member of Scientific Advisory Board

A. Morrow

TITLE
Member of Scientific Advisory Board
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
10. Dec 19 Buy Albert Robichaud Individual 09. Dec 19 09. Dec 19 25,000 $64.16 $1,604,000
10. Dec 19 Buy Jeffrey Jonas Individual 09. Dec 19 09. Dec 19 7,500 $64.20 $481,500
X
Management checks
We assess Sage Therapeutics's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Sage Therapeutics has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

What Did Sage Therapeutics, Inc.'s (NASDAQ:SAGE) CEO Take Home Last Year?

See our latest analysis for Sage Therapeutics How Does Jeff Jonas's Compensation Compare With Similar Sized Companies? … Thus we can conclude that Jeff Jonas receives more in total compensation than the median of a group of companies in the same market, and of similar size to Sage Therapeutics, Inc.. … Boasting a total shareholder return of 347% over three years, Sage Therapeutics, Inc.

Simply Wall St -

Should You Be Holding Sage Therapeutics, Inc. (NASDAQ:SAGE)?

If you're interested in understanding beyond my broad commentary, take a look at the report on Sage Therapeutics here. … Flawless balance sheet with high growth potential Investors in search for stocks with room to flourish should look no further than SAGE, with its expected earnings growth of 57%. … NasdaqGM:SAGE Past and Future Earnings, July 9th 2019 Next Steps: For Sage Therapeutics, I've put together three relevant factors you should further research: Historical Performance: What has SAGE's returns been like over the past?

Simply Wall St -

If You Had Bought Sage Therapeutics (NASDAQ:SAGE) Stock Three Years Ago, You Could Pocket A 410% Gain Today

Check out our latest analysis for Sage Therapeutics Sage Therapeutics isn't currently profitable, so most analysts would look to revenue growth to get an idea of how fast the underlying business is growing. … NasdaqGM:SAGE Income Statement, May 30th 2019 Sage Therapeutics is a well known stock, with plenty of analyst coverage, suggesting some visibility into future growth. … So we recommend checking out this free report showing consensus forecasts A Different Perspective We're pleased to report that Sage Therapeutics rewarded shareholders with a total shareholder return of 14% over the last year.

Simply Wall St -

Are Insiders Selling Sage Therapeutics, Inc. (NASDAQ:SAGE) Stock?

Most investors know that it is quite permissible for company leaders, such as directors of the board, to buy and sell stock on the market. … For example, a Harvard University study found that 'insider purchases earn abnormal returns of more than 6% per year.'. … Sage Therapeutics Insider Transactions Over The Last Year

Simply Wall St -

What You Must Know About Sage Therapeutics, Inc.'s (NASDAQ:SAGE) Financial Health

Small-caps and large-caps are wildly popular among investors, however, mid-cap stocks, such as Sage Therapeutics, Inc. … While they are less talked about as an investment category, mid-cap risk-adjusted returns have generally been better than more commonly focused stocks that fall into the small- or large-cap categories. … View our latest analysis for Sage Therapeutics

Simply Wall St -

Is Sage Therapeutics, Inc. (NASDAQ:SAGE) Expensive For A Reason? A Look At The Intrinsic Value

In this article I am going to calculate the intrinsic value of Sage Therapeutics, Inc. … by taking the expected future cash flows and discounting them to their present value. … Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model

Simply Wall St -

Who Has Been Selling Sage Therapeutics, Inc. (NASDAQ:SAGE) Shares?

So shareholders might well want to know whether insiders have been buying or selling shares in Sage Therapeutics, Inc. … Sage Therapeutics Insider Transactions Over The Last Year. … Kevin Starr was the only individual insider to sell shares in the last twelve months

Simply Wall St -

All You Need To Know About Sage Therapeutics Inc's (NASDAQ:SAGE) Financial Health

Small-cap and large-cap companies receive a lot of attention from investors, but mid-cap stocks like Sage Therapeutics Inc (NASDAQ:SAGE), with a market cap of US$5.8b, are often out of the spotlight. … Let’s take a look at SAGE’s debt concentration and assess their financial liquidity to get an idea of their ability to fund strategic acquisitions and grow through cyclical pressures. … Check out our latest analysis for Sage Therapeutics

Simply Wall St -

Has Sage Therapeutics Inc (NASDAQ:SAGE) Got Enough Cash?

Mid-caps stocks, like Sage Therapeutics Inc (NASDAQ:SAGE) with a market capitalization of US$7.16b, aren’t the focus of most investors who prefer to direct their investments towards either large-cap or small-cap stocks. … Remember this is a very top-level look that focuses exclusively on financial health, so I recommend a deeper analysis. … See our latest analysis for Sage Therapeutics

Simply Wall St -

Sage Therapeutics Inc (NASDAQ:SAGE): Is Breakeven Near?

Many investors are wondering the rate at which SAGE will turn a profit, with the big question being “when will the company breakeven?” … I’ve put together a brief outline of industry analyst expectations for SAGE, its year of breakeven and its implied growth rate … See our latest analysis for Sage Therapeutics

Simply Wall St -

Company Info

Description

Sage Therapeutics, Inc., a clinical-stage biopharmaceutical company, develops and commercializes novel medicines to treat central nervous system (CNS) disorders. Its lead product candidate is ZULRESSO, a proprietary intravenous formulation of brexanolone that has completed Phase III clinical trials for the treatment of postpartum depression (PPD). The company’s product pipeline also includes SAGE-217, a novel neuroactive steroid, which is in Phase III clinical trials for treating PPD, major depressive disorders, bipolar depression, and sleep disorders; and SAGE-324, a novel neuroactive steroid that has completed Phase I clinical trials to treat various neurological conditions, including essential tremor and epileptiform disorders. In addition, its product pipeline comprises SAGE-718, an oxysterol-based positive allosteric modulator of the NMDA receptor, which has completed Phase I clinical trial for the treatment of depression, Huntington’s disease, Alzheimer’s disease, attention deficit hyperactivity disorder, schizophrenia, and neuropathic pain; and SAGE-689, a novel GABAA receptor positive allosteric modulator that is in preclinical stage to treat acute and chronic CNS disorders. Sage Therapeutics, Inc. has a strategic collaboration with Shionogi & Co., Ltd. for the development and commercialization of SAGE-217 in Japan, Taiwan, and South Korea. The company was formerly known as Sterogen Biopharma, Inc. and changed its name to Sage Therapeutics, Inc. in September 2011. Sage Therapeutics, Inc. was founded in 2010 and is headquartered in Cambridge, Massachusetts.

Details
Name: Sage Therapeutics, Inc.
SAGE
Exchange: NasdaqGM
Founded: 2010
$1,637,276,724
51,911,120
Website: http://www.sagerx.com
Address: Sage Therapeutics, Inc.
215 First Street,
Cambridge,
Massachusetts, 02142,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGM SAGE Common Stock Nasdaq Global Market US USD 21. Jul 2014
DB SG7 Common Stock Deutsche Boerse AG DE EUR 21. Jul 2014
BST SG7 Common Stock Boerse-Stuttgart DE EUR 21. Jul 2014
BRSE SG7 Common Stock Berne Stock Exchange CH CHF 21. Jul 2014
Number of employees
Current staff
Staff numbers
675
Sage Therapeutics employees.
Industry
Biotechnology
Pharmaceuticals & Biotech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/03/28 04:06
End of day share price update: 2020/03/27 00:00
Last estimates confirmation: 2020/03/27
Last earnings filing: 2020/02/27
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.