Analysts Set Sage Therapeutics, Inc. (NASDAQ:SAGE) Price Target at $8.81

Sage Therapeutics, Inc. (NASDAQ:SAGE) has earned a consensus recommendation of “Hold” from the nineteen analysts that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have issued a buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $8.81.

Several research firms have weighed in on SAGE. Bank of America began coverage on Sage Therapeutics in a report on Tuesday, March 11th. They issued an “underperform” rating and a $5.00 price objective for the company. Scotiabank cut their price target on shares of Sage Therapeutics from $14.00 to $12.00 and set a “sector outperform” rating on the stock in a report on Wednesday, February 12th. Needham & Company LLC restated a “hold” rating on shares of Sage Therapeutics in a report on Wednesday, February 12th. Wedbush reaffirmed a “neutral” rating and issued a $6.00 target price on shares of Sage Therapeutics in a research report on Wednesday, February 12th. Finally, Canaccord Genuity Group reduced 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.

Sage Therapeutics Stock Down 4.4 %

Shares of SAGE opened at $8.28 on Friday. The stock has a market capitalization of $509.06 million, a P/E ratio of -1.26 and a beta of 0.82. Sage Therapeutics has a twelve month low of $4.62 and a twelve month high of $18.76. The firm has a fifty day simple moving average of $7.48 and a two-hundred day simple moving average of $6.73.

Sage Therapeutics (NASDAQ:SAGE) last posted its earnings results on Tuesday, February 11th. The biopharmaceutical company reported ($1.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.54) by ($0.02). Sage Therapeutics had a negative return on equity of 68.18% and a negative net margin of 971.50%. Sell-side analysts expect that Sage Therapeutics will post -3.52 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Caligan Partners LP bought a new stake in shares of Sage Therapeutics during the fourth quarter valued at approximately $16,575,000. Boothbay Fund Management LLC purchased a new stake in Sage Therapeutics during the 4th quarter valued at $7,540,000. State Street Corp increased its holdings 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 purchasing an additional 451,377 shares in the last quarter. Federated Hermes Inc. raised its stake in shares of Sage Therapeutics by 63.7% in the fourth quarter. Federated Hermes Inc. now owns 1,105,779 shares of the biopharmaceutical company’s stock worth $6,004,000 after purchasing an additional 430,432 shares during the last quarter. Finally, Jane Street Group LLC lifted its holdings in shares of Sage Therapeutics by 103.1% during the fourth quarter. Jane Street Group LLC now owns 462,004 shares of the biopharmaceutical company’s stock valued at $2,509,000 after purchasing an additional 234,528 shares in the last quarter. 99.22% of the stock is 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.