Sage Therapeutics, Inc. (NASDAQ:SAGE) Receives $13.76 Average PT from Brokerages

Shares of Sage Therapeutics, Inc. (NASDAQ:SAGE) have been assigned an average rating of “Hold” from the twenty-one brokerages that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and two have issued a buy rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $12.89.

Several analysts have recently commented on SAGE shares. Piper Sandler restated an “overweight” rating and issued a $26.00 target price (down from $52.00) on shares of Sage Therapeutics in a research note on Wednesday, October 30th. The Goldman Sachs Group decreased their price objective on Sage Therapeutics from $19.00 to $11.00 and set a “neutral” rating for the company in a report on Friday, July 26th. Mizuho cut their target price on Sage Therapeutics from $18.00 to $16.00 and set a “neutral” rating on the stock in a report on Friday, July 19th. StockNews.com lowered shares of Sage Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. Finally, Raymond James reaffirmed a “market perform” rating on shares of Sage Therapeutics in a research note on Thursday, October 10th.

Sage Therapeutics Stock Performance

NASDAQ SAGE opened at $5.81 on Tuesday. Sage Therapeutics has a twelve month low of $5.80 and a twelve month high of $28.26. The stock has a fifty day simple moving average of $7.34 and a 200 day simple moving average of $9.77.

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). The firm had revenue of $11.87 million during the quarter, compared to the consensus estimate of $10.80 million. Sage Therapeutics had a negative net margin of 317.29% and a negative return on equity of 50.29%. The company’s revenue for the quarter was up 337.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($2.81) earnings per share. Research analysts predict that Sage Therapeutics will post -6.5 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bellevue Group AG boosted its holdings in shares of Sage Therapeutics by 27.1% in the 1st quarter. Bellevue Group AG now owns 4,465,544 shares of the biopharmaceutical company’s stock worth $83,684,000 after purchasing an additional 952,193 shares during the period. Federated Hermes Inc. bought a new position in Sage Therapeutics during the second quarter valued at $7,281,000. Renaissance Technologies LLC raised its stake in shares of Sage Therapeutics by 1,476.6% in the second quarter. Renaissance Technologies LLC now owns 553,396 shares of the biopharmaceutical company’s stock valued at $6,010,000 after acquiring an additional 518,296 shares during the period. Cubist Systematic Strategies LLC lifted its holdings in shares of Sage Therapeutics by 831.2% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 489,089 shares of the biopharmaceutical company’s stock worth $5,312,000 after acquiring an additional 436,566 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Sage Therapeutics by 8.1% during the 1st quarter. Vanguard Group Inc. now owns 5,751,373 shares of the biopharmaceutical company’s stock worth $107,781,000 after purchasing an additional 432,013 shares during the period. Institutional investors own 99.22% of the company’s stock.

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.