Sage Therapeutics (NASDAQ:SAGE) Upgraded to "Sector Perform" at Royal Bank of Canada

Royal Bank of Canada upgraded shares of Sage Therapeutics (NASDAQ:SAGE - Free Report) from an underperform rating to a sector perform rating in a report published on Thursday, MarketBeat Ratings reports. The firm currently has $4.00 price target on the biopharmaceutical company's stock.

SAGE has been the topic of a number of other research reports. Needham & Company LLC reaffirmed a "hold" rating on shares of Sage Therapeutics in a research note on Wednesday. Bank of America dropped 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 note on Wednesday, October 9th. Robert W. Baird decreased their target price on shares of Sage Therapeutics from $13.00 to $9.00 and set a "neutral" rating for the company in a research note on Wednesday, October 9th. Raymond James reissued a "market perform" rating on shares of Sage Therapeutics in a research report on Thursday, October 10th. Finally, HC Wainwright reaffirmed a "neutral" rating and set a $14.00 price objective on shares of Sage Therapeutics in a research report on Wednesday. Three analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $12.83.

Sage Therapeutics Trading Down 1.2 %

Shares of SAGE stock traded down $0.06 during mid-day trading on Thursday, reaching $4.85. The stock had a trading volume of 1,485,496 shares, compared to its average volume of 971,088. The firm has a market capitalization of $296.67 million, a PE ratio of -0.90 and a beta of 0.92. The stock's 50-day moving average price is $6.80 and its two-hundred day moving average price is $9.13. Sage Therapeutics has a 52-week low of $4.62 and a 52-week high of $28.26.

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.52) by ($0.01). The business had revenue of $11.87 million for the quarter, compared to analysts' expectations of $10.80 million. Sage Therapeutics had a negative net margin of 317.29% and a negative return on equity of 50.29%. The firm's revenue for the quarter was up 337.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($2.81) EPS. On average, equities research analysts forecast that Sage Therapeutics will post -6.48 earnings per share for the current year.

Hedge Funds Weigh In On Sage Therapeutics

Several large investors have recently added to or reduced their stakes in SAGE. ProShare Advisors LLC raised its position in shares of Sage Therapeutics by 9.0% during the 1st quarter. ProShare Advisors LLC now owns 13,713 shares of the biopharmaceutical company's stock valued at $257,000 after purchasing an additional 1,130 shares during the period. State Board of Administration of Florida Retirement System lifted its position in shares of Sage Therapeutics by 9.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 16,644 shares of the biopharmaceutical company's stock valued at $312,000 after acquiring an additional 1,480 shares in the last quarter. Quest Partners LLC lifted its position in shares of Sage Therapeutics by 14.5% in the second quarter. Quest Partners LLC now owns 11,763 shares of the biopharmaceutical company's stock valued at $128,000 after acquiring an additional 1,486 shares in the last quarter. AdvisorShares Investments LLC boosted its stake in shares of Sage Therapeutics by 13.6% in the second quarter. AdvisorShares Investments LLC now owns 16,030 shares of the biopharmaceutical company's stock worth $177,000 after acquiring an additional 1,918 shares during the period. Finally, Headlands Technologies LLC grew its position in shares of Sage Therapeutics by 245.3% during the second quarter. Headlands Technologies LLC now owns 3,916 shares of the biopharmaceutical company's stock worth $43,000 after purchasing an additional 2,782 shares in the last quarter. Hedge funds and other institutional investors own 99.22% of the company's stock.

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.