Sage Therapeutics, Inc. (NASDAQ:SAGE) Receives $16.06 Average PT from Brokerages

Sage Therapeutics, Inc. (NASDAQ:SAGE) has been assigned a consensus recommendation of “Reduce” from the nineteen research firms that are currently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and one has given a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $16.06.

A number of brokerages have recently issued reports on SAGE. HC Wainwright restated a “neutral” rating and set a $25.00 price objective on shares of Sage Therapeutics in a research report on Friday, August 2nd. TD Cowen downgraded Sage Therapeutics from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $16.00 to $10.00 in a research report on Tuesday, July 30th. JPMorgan Chase & Co. lowered their price objective on Sage Therapeutics from $12.00 to $10.00 and set a “neutral” rating for the company in a research report on Tuesday, August 6th. Needham & Company LLC reiterated a “hold” rating on shares of Sage Therapeutics in a report on Thursday, August 1st. Finally, The Goldman Sachs Group lowered their target price on Sage Therapeutics from $19.00 to $11.00 and set a “neutral” rating for the company in a report on Friday, July 26th.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SAGE. Algert Global LLC boosted its position in Sage Therapeutics by 152.0% in the second quarter. Algert Global LLC now owns 64,844 shares of the biopharmaceutical company’s stock worth $704,000 after purchasing an additional 39,114 shares during the last quarter. Dark Forest Capital Management LP purchased a new position in Sage Therapeutics in the second quarter worth $242,000. AQR Capital Management LLC purchased a new position in Sage Therapeutics in the second quarter worth $1,008,000. Point72 Asia Singapore Pte. Ltd. boosted its position in Sage Therapeutics by 5,420.5% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 21,806 shares of the biopharmaceutical company’s stock worth $237,000 after purchasing an additional 21,411 shares during the last quarter. Finally, Squarepoint Ops LLC boosted its position in Sage Therapeutics by 1,112.0% in the second quarter. Squarepoint Ops LLC now owns 313,407 shares of the biopharmaceutical company’s stock worth $3,404,000 after purchasing an additional 287,549 shares during the last quarter. Hedge funds and other institutional investors own 99.22% of the company’s stock.

Sage Therapeutics Stock Up 1.9 %

NASDAQ:SAGE opened at $7.49 on Monday. The stock’s 50-day simple moving average is $9.58 and its 200 day simple moving average is $12.98. The firm has a market capitalization of $457.26 million, a PE ratio of -0.89 and a beta of 0.91. Sage Therapeutics has a twelve month low of $7.19 and a twelve month high of $28.26.

Sage Therapeutics (NASDAQ:SAGE) last released its quarterly earnings data on Wednesday, July 31st. The biopharmaceutical company reported ($1.70) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $8.65 million during the quarter, compared to analyst estimates of $8.85 million. During the same period last year, the business earned ($2.68) earnings per share. The business’s quarterly revenue was up 249.8% compared to the same quarter last year. On average, analysts anticipate that Sage Therapeutics will post -6.36 EPS for the current fiscal 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.