Sage Therapeutics, Inc. (NASDAQ:SAGE) Receives $12.83 Consensus Target Price from Brokerages

Shares of Sage Therapeutics, Inc. (NASDAQ:SAGE) have been assigned a consensus rating of “Hold” from the twenty-one brokerages that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating and two have issued a buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $12.83.

Several research firms have recently weighed in on SAGE. Bank of America cut their target price on Sage Therapeutics from $11.00 to $6.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 9th. TD Cowen reduced their target price on shares of Sage Therapeutics from $10.00 to $9.00 and set a “hold” rating on the stock in a research note on Thursday, November 21st. Robert W. Baird dropped their price target 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. Oppenheimer reduced their price objective on shares of Sage Therapeutics from $9.00 to $8.00 and set a “market perform” rating on the stock in a research report on Wednesday, October 30th. Finally, Piper Sandler restated an “overweight” rating and set a $26.00 target price (down previously from $52.00) on shares of Sage Therapeutics in a research report on Wednesday, October 30th.

Sage Therapeutics Stock Up 2.1 %

Sage Therapeutics stock opened at $5.28 on Friday. The company’s 50-day moving average price is $6.70 and its 200-day moving average price is $9.00. The company has a market cap of $322.98 million, a PE ratio of -0.93 and a beta of 0.92. Sage Therapeutics has a twelve month low of $4.62 and a twelve month high of $28.26.

Sage Therapeutics (NASDAQ:SAGE) last issued 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). Sage Therapeutics had a negative return on equity of 50.29% and a negative net margin of 317.29%. The company had revenue of $11.87 million for the quarter, compared to the consensus estimate of $10.80 million. During the same period in the previous year, the firm earned ($2.81) earnings per share. The company’s revenue was up 337.1% compared to the same quarter last year. As a group, sell-side analysts expect that Sage Therapeutics will post -6.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sage Therapeutics

Institutional investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its position in Sage Therapeutics by 69.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 811,934 shares of the biopharmaceutical company’s stock valued at $15,217,000 after purchasing an additional 333,805 shares during the period. Vanguard Group Inc. increased its holdings in Sage Therapeutics by 8.1% during the first quarter. Vanguard Group Inc. now owns 5,751,373 shares of the biopharmaceutical company’s stock valued at $107,781,000 after buying an additional 432,013 shares during the period. Virtu Financial LLC purchased a new position in Sage Therapeutics during the first quarter valued at approximately $187,000. Bellevue Group AG lifted its holdings in Sage Therapeutics by 27.1% during the first quarter. Bellevue Group AG now owns 4,465,544 shares of the biopharmaceutical company’s stock worth $83,684,000 after buying an additional 952,193 shares during the period. Finally, Federated Hermes Inc. purchased a new stake in Sage Therapeutics during the second quarter worth $7,281,000. 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.