Sage Therapeutics (NASDAQ:SAGE) Raised to Sector Perform at Royal Bank of Canada

Royal Bank of Canada upgraded shares of Sage Therapeutics (NASDAQ:SAGE) from an underperform rating to a sector perform rating in a research note released on Thursday, Marketbeat Ratings reports. The firm currently has $4.00 target price on the biopharmaceutical company’s stock.

SAGE has been the subject of a number of other research reports. Raymond James reissued a “market perform” rating on shares of Sage Therapeutics in a research report on Thursday, October 10th. Bank of America reduced their price objective 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. Truist Financial cut their price target on Sage Therapeutics from $13.00 to $8.00 and set a “hold” rating on the stock in a report on Wednesday, October 30th. Robert W. Baird decreased their price target on Sage Therapeutics from $13.00 to $9.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Finally, HC Wainwright restated a “neutral” rating and set a $14.00 price objective on shares of Sage Therapeutics in a research note on Wednesday, November 20th. Three equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Sage Therapeutics currently has an average rating of “Hold” and a consensus target price of $12.83.

Sage Therapeutics Trading Up 6.6 %

NASDAQ SAGE opened at $5.17 on Thursday. The company’s fifty day simple moving average is $6.70 and its 200-day simple moving average is $9.02. The stock has a market cap of $316.25 million, a P/E ratio of -0.93 and a beta of 0.92. Sage Therapeutics has a 52 week low of $4.62 and a 52 week high of $28.26.

Sage Therapeutics (NASDAQ:SAGE) last issued its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) EPS for the quarter, missing analysts’ consensus estimates of ($1.52) by ($0.01). Sage Therapeutics had a negative return on equity of 50.29% and a negative net margin of 317.29%. The firm had revenue of $11.87 million during the quarter, compared to analyst estimates of $10.80 million. During the same quarter in the prior year, the firm earned ($2.81) EPS. The business’s quarterly revenue was up 337.1% compared to the same quarter last year. On average, research analysts expect that Sage Therapeutics will post -6.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Sage Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Headlands Technologies LLC increased 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 worth $43,000 after purchasing an additional 2,782 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its position in shares of Sage Therapeutics by 66.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 11,742 shares of the biopharmaceutical company’s stock worth $85,000 after acquiring an additional 4,672 shares in the last quarter. Creative Planning acquired a new stake in shares of Sage Therapeutics during the third quarter valued at approximately $88,000. Lazard Asset Management LLC purchased a new stake in shares of Sage Therapeutics in the 1st quarter valued at approximately $127,000. Finally, Quest Partners LLC boosted its stake in Sage Therapeutics by 14.5% in the 2nd 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 during the period. 99.22% of the stock is owned by institutional investors and hedge funds.

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.