Sage Therapeutics (NASDAQ:SAGE) Price Target Raised to $9.00

Sage Therapeutics (NASDAQ:SAGE) had its price objective upped by Robert W. Baird from $7.00 to $9.00 in a research report released on Friday morning,Benzinga reports. Robert W. Baird currently has a neutral rating on the biopharmaceutical company’s stock.

Other analysts have also recently issued reports about the company. Canaccord Genuity Group increased their price objective on Sage Therapeutics from $8.00 to $8.50 and gave the company a “hold” rating in a research note on Tuesday, June 17th. Bank of America assumed coverage on Sage Therapeutics in a research report on Tuesday, March 11th. They issued an “underperform” rating and a $5.00 target price for the company. Piper Sandler cut Sage Therapeutics from a “strong-buy” rating to a “hold” rating and decreased their target price for the company from $9.00 to $8.50 in a research report on Tuesday, June 17th. Truist Financial set a $9.00 price objective on Sage Therapeutics and gave the stock a “hold” rating in a research report on Tuesday, June 17th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Sage Therapeutics in a research note on Monday, June 16th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $8.93.

Sage Therapeutics Price Performance

SAGE stock opened at $9.30 on Friday. The business has a 50 day simple moving average of $7.20 and a 200-day simple moving average of $7.00. The firm has a market capitalization of $582.37 million, a PE ratio of -1.60 and a beta of 0.18. Sage Therapeutics has a 1 year low of $4.62 and a 1 year high of $13.47.

Sage Therapeutics (NASDAQ:SAGE) last released its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported ($1.01) EPS for the quarter, missing analysts’ consensus estimates of ($0.99) by ($0.02). Sage Therapeutics had a negative net margin of 747.63% and a negative return on equity of 68.99%. The business had revenue of $14.06 million during the quarter, compared to analyst estimates of $14.12 million. During the same quarter in the prior year, the company posted ($1.80) earnings per share. The company’s revenue was up 78.0% on a year-over-year basis. On average, equities research analysts expect that Sage Therapeutics will post -3.52 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Voya Investment Management LLC raised its stake in Sage Therapeutics by 16.3% during the 1st quarter. Voya Investment Management LLC now owns 48,773 shares of the biopharmaceutical company’s stock valued at $388,000 after purchasing an additional 6,818 shares during the period. Strs Ohio purchased a new position in shares of Sage Therapeutics during the 1st quarter valued at $494,000. Polar Asset Management Partners Inc. purchased a new position in shares of Sage Therapeutics during the 1st quarter valued at $654,000. Integrated Wealth Concepts LLC bought a new stake in Sage Therapeutics in the first quarter worth $213,000. Finally, AQR Capital Management LLC boosted its holdings in Sage Therapeutics by 104.6% in the first quarter. AQR Capital Management LLC now owns 1,146,379 shares of the biopharmaceutical company’s stock worth $9,114,000 after purchasing an additional 585,950 shares in the last quarter. 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.