Brokerages Set Sage Therapeutics, Inc. (NASDAQ:SAGE) PT at $8.88

Sage Therapeutics, Inc. (NASDAQ:SAGE) has been given an average rating of “Hold” by the nineteen ratings firms that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have issued a buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $8.88.

Several brokerages recently commented on SAGE. Canaccord Genuity Group dropped their price objective on Sage Therapeutics from $9.00 to $8.00 and set a “hold” rating on the stock in a research note on Wednesday, February 12th. HC Wainwright reaffirmed a “neutral” rating and set a $12.00 price objective (down previously from $14.00) on shares of Sage Therapeutics in a research note on Wednesday, February 12th. Royal Bank of Canada raised Sage Therapeutics from an “underperform” rating to a “sector perform” rating and set a $4.00 price objective on the stock in a research note on Thursday, November 21st. TD Cowen dropped their price objective on Sage Therapeutics from $10.00 to $9.00 and set a “hold” rating on the stock in a research note on Thursday, November 21st. Finally, Wedbush reaffirmed a “neutral” rating and set a $6.00 price objective on shares of Sage Therapeutics in a research note on Wednesday, February 12th.

Institutional Investors Weigh In On Sage Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. RTW Investments LP grew its stake in shares of Sage Therapeutics by 2.0% in the third quarter. RTW Investments LP now owns 5,591,700 shares of the biopharmaceutical company’s stock valued at $40,372,000 after buying an additional 111,123 shares in the last quarter. Caligan Partners LP bought a new position in shares of Sage Therapeutics in the 4th quarter valued at about $16,575,000. State Street Corp grew its position in shares of Sage Therapeutics by 18.2% in the 3rd quarter. State Street Corp now owns 2,926,239 shares of the biopharmaceutical company’s stock valued at $21,127,000 after acquiring an additional 451,377 shares during the period. Millennium Management LLC increased its stake in shares of Sage Therapeutics by 8.3% during the 4th quarter. Millennium Management LLC now owns 1,623,785 shares of the biopharmaceutical company’s stock worth $8,817,000 after purchasing an additional 124,720 shares during the last quarter. Finally, Boothbay Fund Management LLC bought a new stake in shares of Sage Therapeutics in the 4th quarter valued at about $7,540,000. Institutional investors own 99.22% of the company’s stock.

Sage Therapeutics Stock Up 3.1 %

SAGE stock opened at $7.55 on Monday. The business’s fifty day moving average is $6.83 and its 200-day moving average is $6.74. The company has a market cap of $464.18 million, a P/E ratio of -1.15 and a beta of 0.94. Sage Therapeutics has a twelve month low of $4.62 and a twelve month high of $22.34.

Sage Therapeutics (NASDAQ:SAGE) last posted its quarterly earnings results on Tuesday, February 11th. The biopharmaceutical company reported ($1.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.54) by ($0.02). Sage Therapeutics had a negative net margin of 971.50% and a negative return on equity of 68.18%. Research analysts anticipate that Sage Therapeutics will post -3.52 earnings per share for the current fiscal year.

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.