Sage Therapeutics, Inc. (NASDAQ:SAGE) Given Average Recommendation of “Hold” by Brokerages

Shares of Sage Therapeutics, Inc. (NASDAQ:SAGE) have been given an average recommendation of “Hold” by the twenty-one analysts that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $12.83.

A number of brokerages have weighed in on SAGE. JPMorgan Chase & Co. cut their target price on shares of Sage Therapeutics from $12.00 to $10.00 and set a “neutral” rating for the company in a research report on Tuesday, August 6th. Bank of America cut their target price on shares of Sage Therapeutics from $11.00 to $6.00 and set an “underperform” rating for the company in a research report on Wednesday, October 9th. Scotiabank cut their target price 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. Royal Bank of Canada upgraded shares of Sage Therapeutics from an “underperform” rating to a “sector perform” rating and set a $4.00 target price for the company in a research report on Thursday. Finally, Robert W. Baird cut their price objective on shares of Sage Therapeutics from $13.00 to $9.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th.

Sage Therapeutics Stock Performance

Shares of Sage Therapeutics stock opened at $5.17 on Friday. Sage Therapeutics has a 52 week low of $4.62 and a 52 week high of $28.26. The stock has a 50 day moving average price of $6.75 and a two-hundred day moving average price of $9.10. The stock has a market capitalization of $316.26 million, a PE ratio of -0.93 and a beta of 0.92.

Sage Therapeutics (NASDAQ:SAGE) last announced its earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.52) by ($0.01). The company had revenue of $11.87 million for the quarter, compared to analysts’ expectations of $10.80 million. Sage Therapeutics had a negative net margin of 317.29% and a negative return on equity of 50.29%. The firm’s quarterly revenue was up 337.1% on a year-over-year basis. During the same period in the previous year, the firm earned ($2.81) EPS. Research analysts forecast that Sage Therapeutics will post -6.48 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD raised its stake in shares of Sage Therapeutics by 69.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 811,934 shares of the biopharmaceutical company’s stock worth $15,217,000 after acquiring an additional 333,805 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Sage Therapeutics by 8.1% during the first quarter. Vanguard Group Inc. now owns 5,751,373 shares of the biopharmaceutical company’s stock worth $107,781,000 after acquiring an additional 432,013 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Sage Therapeutics during the first quarter worth approximately $187,000. Bellevue Group AG raised its stake in shares of Sage Therapeutics by 27.1% during the first quarter. Bellevue Group AG now owns 4,465,544 shares of the biopharmaceutical company’s stock worth $83,684,000 after acquiring an additional 952,193 shares in the last quarter. Finally, Federated Hermes Inc. purchased a new position in shares of Sage Therapeutics during the second quarter worth approximately $7,281,000. 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.