Sage Therapeutics, Inc. (NASDAQ:SAGE) Receives $10.53 Consensus Target Price from Brokerages

Sage Therapeutics, Inc. (NASDAQ:SAGE) has earned a consensus rating of “Hold” from the twenty research firms that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, sixteen have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $10.53.

A number of analysts have issued reports on SAGE shares. HC Wainwright reissued a “neutral” rating and issued a $14.00 price objective on shares of Sage Therapeutics in a report on Wednesday, November 20th. Truist Financial cut their price target on Sage Therapeutics from $13.00 to $8.00 and set a “hold” rating for the company in a research note on Wednesday, October 30th. Raymond James restated a “market perform” rating on shares of Sage Therapeutics in a research note on Thursday, October 10th. Oppenheimer dropped their price objective on Sage Therapeutics from $9.00 to $8.00 and set a “market perform” rating for the company in a report on Wednesday, October 30th. Finally, Bank of America reduced their target price on Sage Therapeutics from $11.00 to $6.00 and set an “underperform” rating on the stock in a report on Wednesday, October 9th.

Sage Therapeutics Stock Up 1.6 %

Shares of Sage Therapeutics stock opened at $7.08 on Friday. The business has a fifty day simple moving average of $5.69 and a two-hundred day simple moving average of $7.47. Sage Therapeutics has a 1 year low of $4.62 and a 1 year high of $27.67.

Sage Therapeutics (NASDAQ:SAGE) last released its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $11.87 million during the quarter, compared to the consensus estimate of $10.80 million. During the same period in the prior year, the company earned ($2.81) earnings per share. The firm’s revenue was up 337.1% compared to the same quarter last year. Sell-side analysts predict that Sage Therapeutics will post -6.45 EPS for the current year.

Institutional Investors Weigh In On Sage Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in SAGE. State Street Corp boosted its stake in Sage Therapeutics by 18.2% during the third quarter. State Street Corp now owns 2,926,239 shares of the biopharmaceutical company’s stock worth $21,127,000 after acquiring an additional 451,377 shares in the last quarter. RTW Investments LP grew its stake in shares of Sage Therapeutics by 2.0% in 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 period. Federated Hermes Inc. bought a new stake in Sage Therapeutics in the 2nd quarter valued at about $7,281,000. Charles Schwab Investment Management Inc. raised its stake in Sage Therapeutics by 10.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 452,193 shares of the biopharmaceutical company’s stock worth $3,265,000 after buying an additional 43,617 shares during the period. Finally, Renaissance Technologies LLC raised its stake in Sage Therapeutics by 1,476.6% during the 2nd quarter. Renaissance Technologies LLC now owns 553,396 shares of the biopharmaceutical company’s stock worth $6,010,000 after buying an additional 518,296 shares during the period. Institutional investors 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.