Sage Therapeutics (NASDAQ:SAGE) Upgraded at Royal Bank of Canada

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

Several other brokerages also recently weighed in on SAGE. HC Wainwright reaffirmed a “neutral” rating and issued a $14.00 target price on shares of Sage Therapeutics in a report on Wednesday. The Goldman Sachs Group dropped their target price on shares of Sage Therapeutics from $19.00 to $11.00 and set a “neutral” rating for the company in a report on Friday, July 26th. Robert W. Baird dropped their target price on shares of Sage Therapeutics from $13.00 to $9.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of Sage Therapeutics in a report on Wednesday. Finally, Scotiabank dropped their price objective 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. Three equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $12.83.

Sage Therapeutics Price Performance

Shares of SAGE stock opened at $5.17 on Thursday. Sage Therapeutics has a 1 year low of $4.62 and a 1 year high of $28.26. The firm has a fifty day moving average price of $6.70 and a 200-day moving average price of $9.05. The company has a market cap of $316.25 million, a price-to-earnings ratio of -0.93 and a beta of 0.92.

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

Institutional Trading of Sage Therapeutics

Hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC raised its position in Sage Therapeutics by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,242,854 shares of the biopharmaceutical company’s stock worth $8,975,000 after purchasing an additional 3,757 shares during the period. State Street Corp raised its position in Sage Therapeutics by 18.2% in the 3rd quarter. State Street Corp now owns 2,926,239 shares of the biopharmaceutical company’s stock worth $21,127,000 after purchasing an additional 451,377 shares during the period. RTW Investments LP raised its position in Sage Therapeutics by 2.0% in the 3rd quarter. RTW Investments LP now owns 5,591,700 shares of the biopharmaceutical company’s stock worth $40,372,000 after purchasing an additional 111,123 shares during the period. Erste Asset Management GmbH purchased a new stake in Sage Therapeutics in the 3rd quarter worth about $208,000. Finally, Martingale Asset Management L P raised its position in Sage Therapeutics by 55.1% in the 3rd quarter. Martingale Asset Management L P now owns 47,077 shares of the biopharmaceutical company’s stock worth $340,000 after purchasing an additional 16,717 shares during the period. 99.22% of the stock is currently owned by hedge funds and other institutional investors.

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.