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

Shares of Sage Therapeutics, Inc. (NASDAQ:SAGE) have earned an average recommendation of “Hold” from the twenty brokerages that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, sixteen have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $11.53.

A number of research analysts have commented on the stock. 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 on the stock in a research report on Thursday, November 21st. Needham & Company LLC reaffirmed a “hold” rating on shares of Sage Therapeutics in a report on Wednesday, November 20th. 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 research report on Wednesday, October 30th. TD Cowen decreased their price objective on Sage Therapeutics from $10.00 to $9.00 and set a “hold” rating on the stock in a report on Thursday, November 21st. Finally, Robert W. Baird lowered their target price on Sage Therapeutics from $13.00 to $9.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th.

Sage Therapeutics Stock Performance

Shares of NASDAQ:SAGE opened at $5.27 on Wednesday. The firm has a market capitalization of $322.38 million, a PE ratio of -0.94 and a beta of 0.87. Sage Therapeutics has a 52-week low of $4.62 and a 52-week high of $28.26. The firm has a fifty day moving average of $6.17 and a 200 day moving average of $8.30.

Sage Therapeutics (NASDAQ:SAGE) last posted its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.52) by ($0.01). The firm had revenue of $11.87 million during the quarter, compared to analysts’ expectations of $10.80 million. Sage Therapeutics had a negative return on equity of 50.29% and a negative net margin of 317.29%. Sage Therapeutics’s revenue for the quarter was up 337.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($2.81) earnings per share. On average, sell-side analysts forecast that Sage Therapeutics will post -6.53 EPS for the current fiscal year.

Hedge Funds Weigh In On Sage Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. RTW Investments LP lifted its holdings in Sage Therapeutics by 2.0% in the third quarter. RTW Investments LP now owns 5,591,700 shares of the biopharmaceutical company’s stock worth $40,372,000 after buying an additional 111,123 shares during the period. State Street Corp raised its position in shares of 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 acquiring an additional 451,377 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of 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 valued at $8,975,000 after purchasing an additional 3,757 shares during the period. Federated Hermes Inc. bought a new stake in shares of Sage Therapeutics during the second quarter valued at approximately $7,281,000. Finally, Renaissance Technologies LLC grew its stake in Sage Therapeutics by 1,476.6% in the second quarter. Renaissance Technologies LLC now owns 553,396 shares of the biopharmaceutical company’s stock worth $6,010,000 after purchasing an additional 518,296 shares during the period. Hedge funds and other institutional investors own 99.22% of the company’s stock.

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.