Sage Therapeutics (NASDAQ:SAGE) Stock Rating Upgraded by Royal Bank of Canada

Sage Therapeutics (NASDAQ:SAGE) was upgraded by equities research analysts at Royal Bank of Canada from an “underperform” rating to a “sector perform” rating in a research note issued on Thursday, Marketbeat Ratings reports. The firm presently has a $4.00 price target on the biopharmaceutical company’s stock. Royal Bank of Canada’s target price would suggest a potential downside of 22.63% from the company’s previous close.

SAGE has been the topic of a number of other research reports. Wedbush lowered their price target on Sage Therapeutics from $9.00 to $8.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. JPMorgan Chase & Co. lowered their target price on Sage Therapeutics from $12.00 to $10.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 6th. Oppenheimer reduced their price target on shares of Sage Therapeutics from $9.00 to $8.00 and set a “market perform” rating for the company in a research report on Wednesday, October 30th. StockNews.com downgraded shares of Sage Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. Finally, Robert W. Baird dropped their price objective on shares of Sage Therapeutics from $13.00 to $9.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Three investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Sage Therapeutics has a consensus rating of “Hold” and a consensus target price of $12.83.

Sage Therapeutics Price Performance

Shares of SAGE opened at $5.17 on Thursday. The company has a 50-day moving average of $6.75 and a two-hundred day moving average of $9.10. The stock has a market cap of $316.26 million, a price-to-earnings ratio of -0.93 and a beta of 0.92. Sage Therapeutics has a one year low of $4.62 and a one year high of $28.26.

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

Hedge Funds Weigh In On Sage Therapeutics

A number of institutional investors have recently modified their holdings of SAGE. ProShare Advisors LLC grew 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 valued at $257,000 after buying an additional 1,130 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in Sage Therapeutics by 9.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 16,644 shares of the biopharmaceutical company’s stock valued at $312,000 after acquiring an additional 1,480 shares during the period. Quest Partners LLC increased its stake in shares of Sage Therapeutics by 14.5% in the second quarter. Quest Partners LLC now owns 11,763 shares of the biopharmaceutical company’s stock worth $128,000 after purchasing an additional 1,486 shares during the period. AdvisorShares Investments LLC increased its stake in shares of Sage Therapeutics by 13.6% in the second quarter. AdvisorShares Investments LLC now owns 16,030 shares of the biopharmaceutical company’s stock worth $177,000 after purchasing an additional 1,918 shares during the period. Finally, Headlands Technologies LLC lifted its position in shares of Sage Therapeutics by 245.3% during the 2nd quarter. Headlands Technologies LLC now owns 3,916 shares of the biopharmaceutical company’s stock worth $43,000 after purchasing an additional 2,782 shares during the last quarter. 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.