Sage Therapeutics (NASDAQ:SAGE) Upgraded at Royal Bank of Canada

Sage Therapeutics (NASDAQ:SAGE) was upgraded by equities researchers at Royal Bank of Canada from an “underperform” rating to a “sector perform” rating in a research report issued on Thursday, MarketBeat reports. The firm currently has a $4.00 price objective on the biopharmaceutical company’s stock. Royal Bank of Canada’s price target would indicate a potential downside of 18.53% from the company’s previous close.

A number of other analysts have also recently issued reports on the stock. Truist Financial cut their target price on shares of Sage Therapeutics from $13.00 to $8.00 and set a “hold” rating for the company in a research note on Wednesday, October 30th. Robert W. Baird decreased their target price on Sage Therapeutics from $13.00 to $9.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Wedbush lowered their price target on shares of Sage Therapeutics from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Bank of America decreased their target price on shares of Sage Therapeutics from $11.00 to $6.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 9th. Finally, Raymond James reiterated a “market perform” rating on shares of Sage Therapeutics in a research report on Thursday, October 10th. Three equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $12.89.

Sage Therapeutics Price Performance

Shares of NASDAQ SAGE opened at $4.91 on Thursday. The business has a 50-day moving average of $6.85 and a 200-day moving average of $9.16. The stock has a market capitalization of $300.34 million, a price-to-earnings ratio of -0.88 and a beta of 0.92. Sage Therapeutics has a fifty-two week low of $4.62 and a fifty-two week high of $28.26.

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

Hedge Funds Weigh In On Sage Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of SAGE. Headlands Technologies LLC grew 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 buying an additional 2,782 shares during the period. Lazard Asset Management LLC bought a new stake in Sage Therapeutics during the 1st quarter worth approximately $127,000. Virtu Financial LLC bought a new stake in Sage Therapeutics during the first quarter worth $187,000. China Universal Asset Management Co. Ltd. grew its stake in shares of Sage Therapeutics by 66.1% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 11,742 shares of the biopharmaceutical company’s stock worth $85,000 after acquiring an additional 4,672 shares in the last quarter. Finally, Quest Partners LLC increased its stake in Sage Therapeutics by 14.5% in the 2nd 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 during the last quarter. Institutional investors and hedge funds 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.