Sage Therapeutics (NASDAQ:SAGE) Upgraded at StockNews.com

StockNews.com upgraded shares of Sage Therapeutics (NASDAQ:SAGE) from a sell rating to a hold rating in a research note published on Friday.

SAGE has been the topic of a number of other reports. Piper Sandler lowered their target price 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. HC Wainwright restated a “neutral” rating and issued a $12.00 price objective (down previously from $14.00) on shares of Sage Therapeutics in a research note on Wednesday, February 12th. Wedbush reissued a “neutral” rating and set a $6.00 target price on shares of Sage Therapeutics in a report on Wednesday, February 12th. Scotiabank cut their price target on Sage Therapeutics from $14.00 to $12.00 and set a “sector outperform” rating for the company in a report on Wednesday, February 12th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Sage Therapeutics in a research report on Friday, April 25th. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $8.81.

Sage Therapeutics Stock Down 2.4 %

NASDAQ:SAGE opened at $7.30 on Friday. Sage Therapeutics has a twelve month low of $4.62 and a twelve month high of $14.31. The company has a market cap of $457.13 million, a P/E ratio of -1.11 and a beta of 0.20. The business has a 50 day moving average price of $7.54 and a two-hundred day moving average price of $6.78.

Sage Therapeutics (NASDAQ:SAGE) last issued its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported ($1.01) EPS for the quarter, missing the consensus estimate of ($0.99) by ($0.02). The business had revenue of $14.06 million for the quarter, compared to the consensus estimate of $14.12 million. Sage Therapeutics had a negative return on equity of 68.18% and a negative net margin of 971.50%. The company’s quarterly revenue was up 78.0% compared to the same quarter last year. During the same period last year, the firm earned ($1.80) earnings per share. As a group, analysts anticipate that Sage Therapeutics will post -3.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sage Therapeutics

A number of hedge funds have recently made changes to their positions in SAGE. Thrivent Financial for Lutherans lifted its stake in Sage Therapeutics by 108.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 74,625 shares of the biopharmaceutical company’s stock valued at $405,000 after buying an additional 38,876 shares during the period. Amundi acquired a new position in shares of Sage Therapeutics during the fourth quarter valued at about $166,000. SG Americas Securities LLC grew its stake in shares of Sage Therapeutics by 57.7% in the 4th quarter. SG Americas Securities LLC now owns 22,498 shares of the biopharmaceutical company’s stock valued at $122,000 after buying an additional 8,228 shares during the period. Empowered Funds LLC bought a new position in Sage Therapeutics in the fourth quarter worth approximately $91,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Sage Therapeutics by 157.9% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 169,057 shares of the biopharmaceutical company’s stock valued at $918,000 after acquiring an additional 103,495 shares in the last quarter. 99.22% of the stock is currently owned by institutional investors.

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.