Brokerages Set Sage Therapeutics, Inc. (NASDAQ:SAGE) Price Target at $10.53

Shares of Sage Therapeutics, Inc. (NASDAQ:SAGE) have received an average rating of “Hold” from the twenty analysts that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, sixteen have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $10.53.

A number of analysts recently weighed in on the stock. TD Cowen decreased their price target on shares of Sage Therapeutics from $10.00 to $9.00 and set a “hold” rating for the company in a research report on Thursday, November 21st. Raymond James reaffirmed a “market perform” rating on shares of Sage Therapeutics in a research report on Thursday, October 10th. Scotiabank lowered their target price on Sage Therapeutics from $17.00 to $14.00 and set a “sector outperform” rating for the company in a research note on Wednesday, October 30th. Robert W. Baird reduced their price target 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. Finally, Piper Sandler lowered their price objective on shares of Sage Therapeutics from $26.00 to $9.00 and set an “overweight” rating for the company in a research report on Thursday, January 2nd.

Institutional Investors Weigh In On Sage Therapeutics

Institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC boosted its holdings in Sage Therapeutics by 0.3% in the third quarter. Geode Capital Management LLC now owns 1,242,854 shares of the biopharmaceutical company’s stock worth $8,975,000 after purchasing an additional 3,757 shares during the period. State Street Corp boosted its holdings 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 buying an additional 451,377 shares during the period. RTW Investments LP grew its position in shares of Sage Therapeutics by 2.0% during the 3rd 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 during the last quarter. Erste Asset Management GmbH acquired a new stake in Sage Therapeutics during the third quarter worth about $208,000. Finally, Martingale Asset Management L P lifted its holdings in Sage Therapeutics by 55.1% in the third quarter. Martingale Asset Management L P now owns 47,077 shares of the biopharmaceutical company’s stock worth $340,000 after acquiring an additional 16,717 shares during the last quarter. 99.22% of the stock is currently owned by institutional investors.

Sage Therapeutics Stock Down 4.0 %

NASDAQ SAGE opened at $6.97 on Friday. Sage Therapeutics has a 1-year low of $4.62 and a 1-year high of $27.67. The business’s 50-day simple moving average is $5.68 and its 200-day simple moving average is $7.52.

Sage Therapeutics (NASDAQ:SAGE) last announced 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 for the quarter, compared to analyst estimates of $10.80 million. During the same period last year, the firm earned ($2.81) earnings per share. The company’s quarterly revenue was up 337.1% on a year-over-year basis. On average, equities research analysts predict that Sage Therapeutics will post -6.45 EPS for the current 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.