Brokerages Set Sage Therapeutics, Inc. (NASDAQ:SAGE) PT at $16.06

Shares of Sage Therapeutics, Inc. (NASDAQ:SAGE) have been assigned a consensus recommendation of “Reduce” from the nineteen brokerages that are covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, sixteen have issued a hold recommendation and one has given a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $16.06.

A number of equities analysts have issued reports on SAGE shares. Citigroup started coverage on shares of Sage Therapeutics in a research report on Wednesday, May 29th. They set a “sell” rating and a $8.00 price target for the company. Mizuho reduced their target price on shares of Sage Therapeutics from $18.00 to $16.00 and set a “neutral” rating for the company in a report on Friday, July 19th. Truist Financial lowered their price target on shares of Sage Therapeutics from $18.00 to $13.00 and set a “hold” rating on the stock in a report on Wednesday, August 14th. Baird R W upgraded Sage Therapeutics to a “hold” rating in a research note on Wednesday, May 29th. Finally, Scotiabank decreased their price objective on Sage Therapeutics from $19.00 to $17.00 and set a “sector outperform” rating for the company in a report on Thursday, July 25th.

Institutional Trading of Sage Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Headlands Technologies LLC lifted its stake in Sage Therapeutics by 245.3% in the 2nd quarter. Headlands Technologies LLC now owns 3,916 shares of the biopharmaceutical company’s stock valued at $43,000 after buying an additional 2,782 shares in the last quarter. Lazard Asset Management LLC purchased a new position in shares of Sage Therapeutics in the first quarter valued at approximately $127,000. Quest Partners LLC increased its position in shares of Sage Therapeutics by 14.5% during 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 in the last quarter. Point72 DIFC Ltd acquired a new position in Sage Therapeutics in the 2nd quarter valued at $153,000. Finally, SG Americas Securities LLC purchased a new position in Sage Therapeutics in the 2nd quarter valued at $177,000. Hedge funds and other institutional investors own 99.22% of the company’s stock.

Sage Therapeutics Price Performance

NASDAQ SAGE opened at $7.83 on Monday. The company has a market cap of $478.02 million, a price-to-earnings ratio of -0.93 and a beta of 0.91. The stock’s fifty day moving average price is $9.45 and its 200 day moving average price is $12.90. Sage Therapeutics has a 1 year low of $7.19 and a 1 year high of $28.26.

Sage Therapeutics (NASDAQ:SAGE) last announced its quarterly earnings data on Wednesday, July 31st. The biopharmaceutical company reported ($1.70) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.68) by ($0.02). Sage Therapeutics had a negative net margin of 458.30% and a negative return on equity of 55.87%. The firm had revenue of $8.65 million during the quarter, compared to analyst estimates of $8.85 million. During the same period in the prior year, the company posted ($2.68) earnings per share. The firm’s revenue for the quarter was up 249.8% on a year-over-year basis. Research analysts expect that Sage Therapeutics will post -6.47 earnings per share for the current year.

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.