Analysts Set Sage Therapeutics, Inc. (NASDAQ:SAGE) Target Price at $11.53

Sage Therapeutics, Inc. (NASDAQ:SAGE) has earned an average rating of “Hold” from the twenty research firms that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and two have issued a buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $11.53.

A number of equities analysts recently issued reports on SAGE shares. Wedbush dropped their price objective on Sage Therapeutics from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Scotiabank lowered their target price on shares of 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. Bank of America reduced their price target on shares of Sage Therapeutics from $11.00 to $6.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 9th. Robert W. Baird lowered their price objective on shares of Sage Therapeutics from $13.00 to $9.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Sage Therapeutics in a research report on Wednesday, November 20th.

Hedge Funds Weigh In On Sage Therapeutics

Institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC purchased a new stake in Sage Therapeutics in the second quarter valued at $177,000. Assenagon Asset Management S.A. raised its holdings in Sage Therapeutics by 6.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 167,225 shares of the biopharmaceutical company’s stock valued at $1,816,000 after buying an additional 10,632 shares during the period. Easterly Investment Partners LLC lifted its position in Sage Therapeutics by 24.6% in the second quarter. Easterly Investment Partners LLC now owns 136,602 shares of the biopharmaceutical company’s stock valued at $1,483,000 after buying an additional 27,000 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Sage Therapeutics by 20.8% during the second quarter. Bank of New York Mellon Corp now owns 218,746 shares of the biopharmaceutical company’s stock worth $2,376,000 after buying an additional 37,691 shares during the period. Finally, Pinnacle Associates Ltd. increased its position in shares of Sage Therapeutics by 2.6% during the second quarter. Pinnacle Associates Ltd. now owns 293,251 shares of the biopharmaceutical company’s stock valued at $3,185,000 after acquiring an additional 7,334 shares during the last quarter. 99.22% of the stock is owned by hedge funds and other institutional investors.

Sage Therapeutics Stock Up 12.2 %

SAGE opened at $5.61 on Wednesday. The company has a market capitalization of $343.18 million, a PE ratio of -1.01 and a beta of 0.87. The firm has a 50-day simple moving average of $6.07 and a two-hundred day simple moving average of $8.17. Sage Therapeutics has a 52 week low of $4.62 and a 52 week high of $28.26.

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 the consensus estimate of ($1.52) by ($0.01). The business had revenue of $11.87 million during the quarter, compared to the consensus estimate of $10.80 million. Sage Therapeutics had a negative return on equity of 50.29% and a negative net margin of 317.29%. The company’s revenue for the quarter was up 337.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($2.81) EPS. As a group, sell-side analysts expect that Sage Therapeutics will post -6.53 earnings per share 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.