Analysts Set Sage Therapeutics, Inc. (NASDAQ:SAGE) Target Price at $11.53

Shares of Sage Therapeutics, Inc. (NASDAQ:SAGE) have received a consensus recommendation of “Hold” from the twenty research firms that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and two have issued a buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $11.53.

A number of equities research analysts have weighed in on the company. StockNews.com lowered Sage Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. Robert W. Baird decreased their target price on Sage Therapeutics from $13.00 to $9.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Raymond James reaffirmed a “market perform” rating on shares of Sage Therapeutics in a research report on Thursday, October 10th. Oppenheimer decreased their target price on 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. Finally, Bank of America decreased their target price on Sage Therapeutics from $11.00 to $6.00 and set an “underperform” rating for the company in a research report on Wednesday, October 9th.

Sage Therapeutics Stock Up 12.2 %

SAGE opened at $5.61 on Wednesday. The business has a fifty day moving average of $6.07 and a 200 day moving average of $8.14. Sage Therapeutics has a 52-week low of $4.62 and a 52-week high of $28.26. The stock has a market cap of $343.18 million, a P/E ratio of -1.01 and a beta of 0.87.

Sage Therapeutics (NASDAQ:SAGE) last posted its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $10.80 million. During the same quarter in the previous year, the firm earned ($2.81) EPS. Sage Therapeutics’s revenue was up 337.1% compared to the same quarter last year. Equities analysts anticipate that Sage Therapeutics will post -6.53 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SAGE. SG Americas Securities LLC acquired a new position in Sage Therapeutics during the 2nd quarter valued at about $177,000. Assenagon Asset Management S.A. increased its position in Sage Therapeutics by 6.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 167,225 shares of the biopharmaceutical company’s stock valued at $1,816,000 after buying an additional 10,632 shares in the last quarter. Easterly Investment Partners LLC increased its position in Sage Therapeutics by 24.6% during the 2nd quarter. Easterly Investment Partners LLC now owns 136,602 shares of the biopharmaceutical company’s stock valued at $1,483,000 after buying an additional 27,000 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Sage Therapeutics by 20.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 218,746 shares of the biopharmaceutical company’s stock valued at $2,376,000 after purchasing an additional 37,691 shares during the last quarter. Finally, Pinnacle Associates Ltd. grew its stake in Sage Therapeutics by 2.6% during the 2nd quarter. Pinnacle Associates Ltd. now owns 293,251 shares of the biopharmaceutical company’s stock valued at $3,185,000 after purchasing an additional 7,334 shares during the last quarter. 99.22% of the stock is owned by institutional investors and hedge funds.

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.