Sage Therapeutics (NASDAQ:SAGE) Issues Quarterly Earnings Results

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) announced its quarterly earnings results on Tuesday. The biopharmaceutical company reported ($1.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.54) by ($0.02), Zacks reports. Sage Therapeutics had a negative net margin of 317.29% and a negative return on equity of 50.29%.

Sage Therapeutics Stock Performance

Sage Therapeutics stock traded down $0.04 during midday trading on Friday, reaching $7.14. The stock had a trading volume of 1,943,315 shares, compared to its average volume of 2,832,859. The firm's fifty day simple moving average is $6.40 and its 200-day simple moving average is $6.88. Sage Therapeutics has a 1-year low of $4.62 and a 1-year high of $26.25. The stock has a market capitalization of $436.75 million, a P/E ratio of -1.28 and a beta of 0.94.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Scotiabank cut their price objective on Sage Therapeutics from $14.00 to $12.00 and set a "sector outperform" rating on the stock in a report on Wednesday. Stifel Nicolaus decreased their target price on Sage Therapeutics from $10.00 to $6.00 and set a "hold" rating for the company in a research report on Monday, December 16th. Truist Financial cut their price target on Sage Therapeutics from $13.00 to $8.00 and set a "hold" rating for the company in a report on Wednesday, October 30th. Oppenheimer cut their target price on Sage Therapeutics from $9.00 to $8.00 and set a "market perform" rating for the company in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada upgraded Sage Therapeutics from an "underperform" rating to a "sector perform" rating and set a $4.00 price target on the stock in a research report on Thursday, November 21st. Three equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $9.65.

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.