Sage Therapeutics (NASDAQ:SAGE) Upgraded by Royal Bank of Canada to “Sector Perform” Rating

Royal Bank of Canada upgraded shares of Sage Therapeutics (NASDAQ:SAGE) from an underperform rating to a sector perform rating in a research report sent to investors on Thursday, Marketbeat.com reports. They currently have $4.00 price target on the biopharmaceutical company’s stock.

Several other equities research analysts have also commented on the stock. Scotiabank cut their price target on shares of Sage Therapeutics from $17.00 to $14.00 and set a “sector outperform” rating for the company in a report on Wednesday, October 30th. Piper Sandler reiterated an “overweight” rating and issued a $26.00 price objective (down from $52.00) on shares of Sage Therapeutics in a report on Wednesday, October 30th. Raymond James reissued a “market perform” rating on shares of Sage Therapeutics in a report on Thursday, October 10th. TD Cowen lowered Sage Therapeutics from a “buy” rating to a “hold” rating and lowered their price target for the stock from $16.00 to $10.00 in a research note on Tuesday, July 30th. Finally, The Goldman Sachs Group reduced their price objective on Sage Therapeutics from $19.00 to $11.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. Three research analysts have rated the stock with a sell rating, seventeen have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $12.83.

Sage Therapeutics Stock Up 6.6 %

Shares of NASDAQ SAGE opened at $5.17 on Thursday. Sage Therapeutics has a 52 week low of $4.62 and a 52 week high of $28.26. The firm has a market cap of $316.25 million, a P/E ratio of -0.93 and a beta of 0.92. The business’s 50 day moving average price is $6.70 and its 200 day moving average price is $9.02.

Sage Therapeutics (NASDAQ:SAGE) last issued its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.52) by ($0.01). Sage Therapeutics had a negative net margin of 317.29% and a negative return on equity of 50.29%. The company had revenue of $11.87 million during the quarter, compared to analyst estimates of $10.80 million. During the same period last year, the firm earned ($2.81) EPS. The business’s quarterly revenue was up 337.1% compared to the same quarter last year. As a group, research analysts expect that Sage Therapeutics will post -6.5 earnings per share for the current year.

Institutional Trading of Sage Therapeutics

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Sage Therapeutics by 8.1% in the first quarter. Vanguard Group Inc. now owns 5,751,373 shares of the biopharmaceutical company’s stock valued at $107,781,000 after purchasing an additional 432,013 shares during the period. RTW Investments LP increased its stake in shares of Sage Therapeutics by 2.0% during the 3rd quarter. RTW Investments LP now owns 5,591,700 shares of the biopharmaceutical company’s stock valued at $40,372,000 after acquiring an additional 111,123 shares during the last quarter. Bellevue Group AG lifted its holdings in shares of Sage Therapeutics by 27.1% during the 1st quarter. Bellevue Group AG now owns 4,465,544 shares of the biopharmaceutical company’s stock worth $83,684,000 after acquiring an additional 952,193 shares during the period. State Street Corp boosted its position in shares of Sage Therapeutics by 18.2% in the third quarter. State Street Corp now owns 2,926,239 shares of the biopharmaceutical company’s stock worth $21,127,000 after acquiring an additional 451,377 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Sage Therapeutics by 0.3% in the third quarter. Geode Capital Management LLC now owns 1,242,854 shares of the biopharmaceutical company’s stock valued at $8,975,000 after purchasing an additional 3,757 shares during the period. Institutional investors and hedge funds own 99.22% of the company’s stock.

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.