Sage Therapeutics (NASDAQ:SAGE) Rating Reiterated by Raymond James

Sage Therapeutics (NASDAQ:SAGE)‘s stock had its “market perform” rating restated by analysts at Raymond James in a note issued to investors on Thursday, MarketBeat.com reports.

Several other equities analysts also recently issued reports on the stock. Royal Bank of Canada downgraded shares of Sage Therapeutics from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $10.00 to $4.00 in a report on Friday, October 4th. Truist Financial reduced their target price on shares of Sage Therapeutics from $18.00 to $13.00 and set a “hold” rating for the company in a research note on Wednesday, August 14th. Bank of America dropped their price target on shares of Sage Therapeutics from $11.00 to $6.00 and set an “underperform” rating on the stock in a research note on Wednesday. Robert W. Baird reduced their price objective on Sage Therapeutics from $13.00 to $9.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, HC Wainwright restated a “neutral” rating and issued a $25.00 target price on shares of Sage Therapeutics in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $13.76.

Sage Therapeutics Stock Performance

NASDAQ SAGE opened at $6.59 on Thursday. The firm has a market capitalization of $402.32 million, a PE ratio of -0.89 and a beta of 0.91. Sage Therapeutics has a one year low of $5.84 and a one year high of $28.26. The company has a 50-day simple moving average of $7.68 and a 200-day simple moving average of $10.90.

Sage Therapeutics (NASDAQ:SAGE) last announced its quarterly earnings results on Wednesday, July 31st. The biopharmaceutical company reported ($1.70) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.68) by ($0.02). Sage Therapeutics had a negative return on equity of 55.87% and a negative net margin of 458.30%. The company had revenue of $8.65 million for the quarter, compared to analyst estimates of $8.85 million. During the same quarter in the previous year, the company posted ($2.68) earnings per share. The firm’s revenue for the quarter was up 249.8% compared to the same quarter last year. Equities analysts forecast that Sage Therapeutics will post -6.47 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SAGE. ProShare Advisors LLC boosted its stake in Sage Therapeutics by 9.0% in the 1st quarter. ProShare Advisors LLC now owns 13,713 shares of the biopharmaceutical company’s stock worth $257,000 after purchasing an additional 1,130 shares during the period. State Board of Administration of Florida Retirement System boosted its position in shares of Sage Therapeutics by 9.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 16,644 shares of the biopharmaceutical company’s stock worth $312,000 after buying an additional 1,480 shares during the period. Quest Partners LLC grew its holdings in shares of Sage Therapeutics by 14.5% during the second quarter. Quest Partners LLC now owns 11,763 shares of the biopharmaceutical company’s stock valued at $128,000 after buying an additional 1,486 shares in the last quarter. Inspire Investing LLC grew its holdings in shares of Sage Therapeutics by 9.4% during the first quarter. Inspire Investing LLC now owns 19,234 shares of the biopharmaceutical company’s stock valued at $360,000 after buying an additional 1,652 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in Sage Therapeutics by 4.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,568 shares of the biopharmaceutical company’s stock valued at $723,000 after buying an additional 1,693 shares during the period. 99.22% of the stock is currently owned by institutional investors and hedge funds.

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.