Sage Therapeutics (NASDAQ:SAGE) Now Covered by Analysts at Bank of America

Bank of America started coverage on shares of Sage Therapeutics (NASDAQ:SAGE) in a report published on Tuesday morning. The brokerage issued an underperform rating and a $5.00 price objective on the biopharmaceutical company’s stock.

Other analysts also recently issued reports about the stock. Needham & Company LLC reiterated a “hold” rating on shares of Sage Therapeutics in a research report on Wednesday, February 12th. Piper Sandler cut their price objective on shares of Sage Therapeutics from $26.00 to $9.00 and set an “overweight” rating on the stock in a research report on Thursday, January 2nd. Stifel Nicolaus dropped their price target on shares of Sage Therapeutics from $10.00 to $6.00 and set a “hold” rating on the stock in a research report on Monday, December 16th. Canaccord Genuity Group dropped their price target on shares of Sage Therapeutics from $9.00 to $8.00 and set a “hold” rating on the stock in a research report on Wednesday, February 12th. Finally, TD Cowen dropped their price target on shares of Sage Therapeutics from $10.00 to $9.00 and set a “hold” rating on the stock in a research report on Thursday, November 21st. Three analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $8.81.

Sage Therapeutics Stock Up 1.8 %

Shares of NASDAQ:SAGE opened at $7.40 on Tuesday. The company has a market cap of $454.96 million, a PE ratio of -1.12 and a beta of 0.82. The company’s 50-day moving average price is $7.03 and its 200 day moving average price is $6.71. Sage Therapeutics has a fifty-two week low of $4.62 and a fifty-two week high of $21.22.

Sage Therapeutics (NASDAQ:SAGE) last issued its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported ($1.56) earnings per share for the quarter, missing the consensus estimate of ($1.54) by ($0.02). Sage Therapeutics had a negative net margin of 971.50% and a negative return on equity of 68.18%. As a group, equities analysts anticipate that Sage Therapeutics will post -3.52 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SAGE. Picton Mahoney Asset Management increased its position in shares of Sage Therapeutics by 126.0% in the fourth quarter. Picton Mahoney Asset Management now owns 6,423 shares of the biopharmaceutical company’s stock worth $35,000 after acquiring an additional 3,581 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Sage Therapeutics in the fourth quarter worth approximately $49,000. Ieq Capital LLC purchased a new position in shares of Sage Therapeutics in the fourth quarter worth approximately $57,000. US Bancorp DE increased its position in shares of Sage Therapeutics by 22.3% in the fourth quarter. US Bancorp DE now owns 12,430 shares of the biopharmaceutical company’s stock worth $67,000 after acquiring an additional 2,268 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its position in shares of Sage Therapeutics by 21.6% in the fourth quarter. Teacher Retirement System of Texas now owns 13,768 shares of the biopharmaceutical company’s stock worth $75,000 after acquiring an additional 2,446 shares in the last quarter. 99.22% of the stock is owned by hedge funds and other institutional investors.

Sage Therapeutics Company Profile

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.