Sage Therapeutics, Inc. (NASDAQ:SAGE) Receives Consensus Rating of "Hold" from Brokerages

Sage Therapeutics, Inc. (NASDAQ:SAGE - Get Free Report) has been assigned an average recommendation of "Hold" from the nineteen brokerages that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, fifteen have assigned a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $8.81.

Several research analysts recently weighed in on SAGE shares. Bank of America initiated coverage on Sage Therapeutics in a research note on Tuesday, March 11th. They set an "underperform" rating and a $5.00 target price on the stock. Piper Sandler dropped their price target on Sage Therapeutics from $26.00 to $9.00 and set an "overweight" rating on the stock in a research note on Thursday, January 2nd. Scotiabank cut their price objective on shares of Sage Therapeutics from $14.00 to $12.00 and set a "sector outperform" rating on the stock in a report on Wednesday, February 12th. Stifel Nicolaus lowered their target price on shares of Sage Therapeutics from $10.00 to $6.00 and set a "hold" rating for the company in a research note on Monday, December 16th. Finally, HC Wainwright restated a "neutral" rating and set a $12.00 price target (down previously from $14.00) on shares of Sage Therapeutics in a research note on Wednesday, February 12th.

Institutional Investors Weigh In On Sage Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in SAGE. RTW Investments LP lifted 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 purchasing an additional 111,123 shares during the period. Caligan Partners LP acquired a new position in shares of Sage Therapeutics in the fourth quarter worth about $16,575,000. State Street Corp raised its position in shares of Sage Therapeutics by 18.2% in 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 during the period. Millennium Management LLC boosted its stake in shares of Sage Therapeutics by 8.3% during the 4th quarter. Millennium Management LLC now owns 1,623,785 shares of the biopharmaceutical company's stock worth $8,817,000 after acquiring an additional 124,720 shares in the last quarter. Finally, Boothbay Fund Management LLC acquired a new stake in shares of Sage Therapeutics during the 4th quarter valued at about $7,540,000. Institutional investors and hedge funds own 99.22% of the company's stock.

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Sage Therapeutics Price Performance

Shares of SAGE stock traded down $0.38 during mid-day trading on Friday, hitting $8.28. 855,244 shares of the stock traded hands, compared to its average volume of 1,221,196. Sage Therapeutics has a 52-week low of $4.62 and a 52-week high of $18.76. The stock has a market cap of $509.06 million, a P/E ratio of -1.26 and a beta of 0.82. The stock's fifty day moving average is $7.48 and its two-hundred day moving average is $6.74.

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) last posted its earnings results on Tuesday, February 11th. The biopharmaceutical company reported ($1.56) EPS for the quarter, missing analysts' consensus estimates of ($1.54) by ($0.02). Sage Therapeutics had a negative net margin of 971.50% and a negative return on equity of 68.18%. As a group, equities analysts forecast that Sage Therapeutics will post -3.52 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.