Sage Therapeutics, Inc. (NASDAQ:SAGE) Receives Average Rating of “Hold” from Brokerages

Sage Therapeutics, Inc. (NASDAQ:SAGE) has earned an average rating of “Hold” from the twenty research firms that are presently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, sixteen have given a hold recommendation and two have given a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $10.53.

Several equities analysts recently issued reports on the company. Stifel Nicolaus reduced their price target on Sage Therapeutics from $10.00 to $6.00 and set a “hold” rating on the stock in a research report on Monday, December 16th. Scotiabank cut their target price on shares of Sage Therapeutics from $17.00 to $14.00 and set a “sector outperform” rating on the stock in a report on Wednesday, October 30th. Royal Bank of Canada upgraded shares of Sage Therapeutics from an “underperform” rating to a “sector perform” rating and set a $4.00 price target for the company in a report on Thursday, November 21st. Wedbush cut their price target on shares of Sage Therapeutics from $9.00 to $8.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Finally, HC Wainwright reaffirmed a “neutral” rating and set a $14.00 price objective on shares of Sage Therapeutics in a research note on Wednesday, November 20th.

Sage Therapeutics Stock Performance

Shares of Sage Therapeutics stock opened at $5.55 on Friday. Sage Therapeutics has a 52-week low of $4.62 and a 52-week high of $28.26. The company has a fifty day moving average of $5.57 and a 200-day moving average of $7.62. The stock has a market capitalization of $339.51 million, a price-to-earnings ratio of -0.99 and a beta of 0.91.

Sage Therapeutics (NASDAQ:SAGE) last posted its quarterly earnings results 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). The business had revenue of $11.87 million for the quarter, compared to analysts’ expectations of $10.80 million. Sage Therapeutics had a negative net margin of 317.29% and a negative return on equity of 50.29%. The business’s quarterly revenue was up 337.1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($2.81) earnings per share. On average, equities research analysts forecast that Sage Therapeutics will post -6.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sage Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp lifted its holdings in shares of Sage Therapeutics by 18.2% during the third quarter. State Street Corp now owns 2,926,239 shares of the biopharmaceutical company’s stock valued at $21,127,000 after purchasing an additional 451,377 shares during the last quarter. RTW Investments LP raised its stake in Sage Therapeutics by 2.0% during the third quarter. RTW Investments LP now owns 5,591,700 shares of the biopharmaceutical company’s stock valued at $40,372,000 after buying an additional 111,123 shares during the last quarter. Federated Hermes Inc. bought a new stake in Sage Therapeutics in the second quarter worth $7,281,000. Charles Schwab Investment Management Inc. grew its stake in shares of Sage Therapeutics by 10.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 452,193 shares of the biopharmaceutical company’s stock worth $3,265,000 after acquiring an additional 43,617 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings 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 valued at $6,010,000 after acquiring an additional 518,296 shares in the last quarter. Hedge funds and other institutional investors 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.