Sage Therapeutics, Inc. (NASDAQ:SAGE) Given Average Recommendation of “Reduce” by Brokerages

Sage Therapeutics, Inc. (NASDAQ:SAGE) has received a consensus recommendation of “Reduce” from the nineteen analysts that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and one has assigned a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $16.06.

A number of equities analysts have commented on SAGE shares. Truist Financial reduced their target price on Sage Therapeutics from $18.00 to $13.00 and set a “hold” rating for the company in a report on Wednesday, August 14th. HC Wainwright reissued a “neutral” rating and set a $25.00 target price on shares of Sage Therapeutics in a report on Friday, August 2nd. Scotiabank reduced their target price on Sage Therapeutics from $19.00 to $17.00 and set a “sector outperform” rating for the company in a report on Thursday, July 25th. Robert W. Baird reduced their target price on Sage Therapeutics from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Thursday, July 25th. Finally, Mizuho reduced their target price on Sage Therapeutics from $18.00 to $16.00 and set a “neutral” rating for the company in a report on Friday, July 19th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of SAGE. Bellevue Group AG boosted its position in shares of Sage Therapeutics by 27.1% during the first quarter. Bellevue Group AG now owns 4,465,544 shares of the biopharmaceutical company’s stock worth $83,684,000 after buying an additional 952,193 shares during the period. Federated Hermes Inc. purchased a new position in shares of Sage Therapeutics during the second quarter worth $7,281,000. Renaissance Technologies LLC boosted its position in shares of Sage Therapeutics by 1,476.6% during the second quarter. Renaissance Technologies LLC now owns 553,396 shares of the biopharmaceutical company’s stock worth $6,010,000 after buying an additional 518,296 shares during the period. Cubist Systematic Strategies LLC boosted its position in shares of Sage Therapeutics by 831.2% during the second quarter. Cubist Systematic Strategies LLC now owns 489,089 shares of the biopharmaceutical company’s stock worth $5,312,000 after buying an additional 436,566 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of Sage Therapeutics by 8.1% during the first quarter. Vanguard Group Inc. now owns 5,751,373 shares of the biopharmaceutical company’s stock worth $107,781,000 after buying an additional 432,013 shares during the period. 99.22% of the stock is currently owned by hedge funds and other institutional investors.

Sage Therapeutics Trading Up 0.1 %

Shares of SAGE stock opened at $6.99 on Friday. The company has a market capitalization of $426.74 million, a P/E ratio of -0.83 and a beta of 0.91. The business’s 50 day moving average is $8.23 and its two-hundred day moving average is $11.47. Sage Therapeutics has a 12-month low of $6.72 and a 12-month high of $28.26.

Sage Therapeutics (NASDAQ:SAGE) last announced its earnings results on Wednesday, July 31st. The biopharmaceutical company reported ($1.70) EPS for the quarter, missing analysts’ consensus estimates of ($1.68) by ($0.02). Sage Therapeutics had a negative net margin of 458.30% and a negative return on equity of 55.87%. The firm had revenue of $8.65 million for the quarter, compared to analyst estimates of $8.85 million. During the same period in the previous year, the company earned ($2.68) EPS. Sage Therapeutics’s revenue was up 249.8% compared to the same quarter last year. On average, research analysts predict that Sage Therapeutics will post -6.47 earnings per share for the current fiscal year.

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.