Sage Therapeutics (NASDAQ:SAGE) Earns Underperform Rating from Analysts at Bank of America

Analysts at Bank of America began coverage on shares of Sage Therapeutics (NASDAQ:SAGE - Get Free Report) in a report issued on Tuesday. The brokerage set an "underperform" rating and a $5.00 price target on the biopharmaceutical company's stock. Bank of America's price target would suggest a potential downside of 29.88% from the stock's previous close.

A number of other analysts also recently weighed in on the stock. Scotiabank decreased their price target on shares of Sage Therapeutics from $14.00 to $12.00 and set a "sector outperform" rating for the company in a research report on Wednesday, February 12th. Stifel Nicolaus decreased their price objective on shares of Sage Therapeutics from $10.00 to $6.00 and set a "hold" rating for the company in a report on Monday, December 16th. HC Wainwright reaffirmed a "neutral" rating and set a $12.00 price target (down previously from $14.00) on shares of Sage Therapeutics in a research report on Wednesday, February 12th. Royal Bank of Canada upgraded Sage Therapeutics from an "underperform" rating to a "sector perform" rating and set a $4.00 price objective on the stock in a research note on Thursday, November 21st. Finally, TD Cowen decreased their target price on Sage Therapeutics from $10.00 to $9.00 and set a "hold" rating for the company in a research report on Thursday, November 21st. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $8.81.

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Sage Therapeutics Trading Down 1.9 %

SAGE stock traded down $0.14 during trading on Tuesday, reaching $7.13. The stock had a trading volume of 531,125 shares, compared to its average volume of 2,082,741. The firm has a fifty day moving average price of $6.99 and a 200 day moving average price of $6.72. The company has a market capitalization of $438.42 million, a P/E ratio of -1.08 and a beta of 0.82. Sage Therapeutics has a 1-year low of $4.62 and a 1-year high of $21.22.

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The biopharmaceutical company reported ($1.56) EPS for the quarter, missing the consensus estimate of ($1.54) by ($0.02). Sage Therapeutics had a negative return on equity of 68.18% and a negative net margin of 971.50%. Sell-side analysts predict that Sage Therapeutics will post -3.52 EPS for the current year.

Institutional Trading of Sage Therapeutics

Large investors have recently added to or reduced their stakes in the company. RTW Investments LP boosted its holdings in shares of Sage Therapeutics by 2.0% during the third quarter. RTW Investments LP now owns 5,591,700 shares of the biopharmaceutical company's stock worth $40,372,000 after purchasing an additional 111,123 shares during the period. Caligan Partners LP bought a new position in Sage Therapeutics during the fourth quarter valued at approximately $16,575,000. State Street Corp lifted its stake in 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 acquiring an additional 451,377 shares during the last quarter. Millennium Management LLC grew its position in Sage Therapeutics by 8.3% in the fourth 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 position in shares of Sage Therapeutics during the 4th quarter worth $7,540,000. 99.22% of the stock is owned by institutional investors and hedge funds.

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.

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