Sage Therapeutics, Inc. (NASDAQ:SAGE) Given Consensus Recommendation of “Hold” by Analysts

Shares of Sage Therapeutics, Inc. (NASDAQ:SAGE) have earned a consensus rating of “Hold” from the nineteen research firms that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have issued a buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $8.81.

SAGE has been the topic of several research analyst reports. Scotiabank reduced their price objective on shares of Sage Therapeutics from $14.00 to $12.00 and set a “sector outperform” rating on the stock in a report on Wednesday, February 12th. Piper Sandler decreased their price objective on shares of Sage Therapeutics from $26.00 to $9.00 and set an “overweight” rating on the stock in a report on Thursday, January 2nd. Wedbush reiterated a “neutral” rating and issued a $6.00 target price on shares of Sage Therapeutics in a report on Wednesday, February 12th. Bank of America initiated coverage on Sage Therapeutics in a research note on Tuesday, March 11th. They set an “underperform” rating and a $5.00 price target on the stock. Finally, Canaccord Genuity Group dropped their price objective on Sage Therapeutics from $9.00 to $8.00 and set a “hold” rating for the company in a research note on Wednesday, February 12th.

Sage Therapeutics Price Performance

Shares of SAGE stock opened at $7.44 on Tuesday. The firm’s 50-day moving average is $7.48 and its two-hundred day moving average is $6.72. Sage Therapeutics has a 12 month low of $4.62 and a 12 month high of $14.97. The company has a market capitalization of $457.42 million, a PE ratio of -1.13 and a beta of 0.48.

Sage Therapeutics (NASDAQ:SAGE) last issued its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported ($1.56) earnings per share 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 forecast that Sage Therapeutics will post -3.52 EPS for the current year.

Hedge Funds Weigh In On Sage Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in SAGE. US Bancorp DE increased its holdings in Sage Therapeutics by 22.3% in the fourth quarter. US Bancorp DE now owns 12,430 shares of the biopharmaceutical company’s stock valued at $67,000 after buying an additional 2,268 shares in the last quarter. Teacher Retirement System of Texas grew its holdings in shares of Sage Therapeutics by 21.6% in the 4th quarter. Teacher Retirement System of Texas now owns 13,768 shares of the biopharmaceutical company’s stock worth $75,000 after acquiring an additional 2,446 shares during the period. Picton Mahoney Asset Management grew its holdings in shares of Sage Therapeutics by 126.0% in the 4th quarter. Picton Mahoney Asset Management now owns 6,423 shares of the biopharmaceutical company’s stock worth $35,000 after acquiring an additional 3,581 shares during the period. Geode Capital Management LLC increased its stake in Sage Therapeutics by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,242,854 shares of the biopharmaceutical company’s stock valued at $8,975,000 after purchasing an additional 3,757 shares in the last quarter. Finally, ProShare Advisors LLC raised its holdings in Sage Therapeutics by 31.2% during the fourth quarter. ProShare Advisors LLC now owns 18,281 shares of the biopharmaceutical company’s stock worth $99,000 after purchasing an additional 4,350 shares during the last quarter. 99.22% of the stock is owned by institutional investors and hedge funds.

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.