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

Shares of Sage Therapeutics, Inc. (NASDAQ:SAGE - Get Free Report) have been assigned a consensus rating of "Hold" from the twenty analysts that are covering the firm, MarketBeat Ratings reports. Two research 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 target among analysts that have issued a report on the stock in the last year is $11.53.

A number of brokerages have recently commented on SAGE. Bank of America cut their price objective on shares of Sage Therapeutics from $11.00 to $6.00 and set an "underperform" rating on the stock in a research report on Wednesday, October 9th. StockNews.com cut Sage Therapeutics from a "hold" rating to a "sell" rating in a report on Thursday, October 31st. HC Wainwright reiterated a "neutral" rating and set a $14.00 target price on shares of Sage Therapeutics in a report on Wednesday, November 20th. Wedbush decreased their price target on Sage Therapeutics from $9.00 to $8.00 and set a "neutral" rating for the company in a research note on Wednesday, October 9th. Finally, Piper Sandler reiterated an "overweight" rating and set a $26.00 price objective (down previously from $52.00) on shares of Sage Therapeutics in a research note on Wednesday, October 30th.

Sage Therapeutics Stock Down 1.4 %

Shares of NASDAQ:SAGE opened at $5.27 on Wednesday. The company's fifty day simple moving average is $6.15 and its 200 day simple moving average is $8.26. The firm has a market cap of $322.38 million, a price-to-earnings ratio of -0.94 and a beta of 0.87. Sage Therapeutics has a 12 month low of $4.62 and a 12 month high of $28.26.

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $11.87 million for the quarter, compared to analyst estimates of $10.80 million. Sage Therapeutics had a negative return on equity of 50.29% and a negative net margin of 317.29%. The firm's quarterly revenue was up 337.1% on a year-over-year basis. During the same period in the prior year, the company earned ($2.81) earnings per share. Research analysts expect that Sage Therapeutics will post -6.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sage Therapeutics

Institutional investors have recently modified their holdings of the business. Federated Hermes Inc. acquired a new stake in Sage Therapeutics in the 2nd quarter worth about $7,281,000. Renaissance Technologies LLC raised its position in shares of Sage Therapeutics by 1,476.6% in the second quarter. Renaissance Technologies LLC now owns 553,396 shares of the biopharmaceutical company's stock valued at $6,010,000 after buying an additional 518,296 shares in the last quarter. State Street Corp boosted its stake 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 valued at $21,127,000 after buying an additional 451,377 shares during the period. Cubist Systematic Strategies LLC grew its position in Sage Therapeutics by 831.2% during the second quarter. Cubist Systematic Strategies LLC now owns 489,089 shares of the biopharmaceutical company's stock worth $5,312,000 after buying an additional 436,566 shares in the last quarter. Finally, Squarepoint Ops LLC increased its stake in Sage Therapeutics by 1,112.0% during the 2nd quarter. Squarepoint Ops LLC now owns 313,407 shares of the biopharmaceutical company's stock worth $3,404,000 after acquiring an additional 287,549 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.