Sage Therapeutics (NASDAQ:SAGE) Given Neutral Rating at Piper Sandler

Piper Sandler reissued their neutral rating on shares of Sage Therapeutics (NASDAQ:SAGE) in a research report report published on Tuesday,Benzinga reports. The brokerage currently has a $8.50 price objective on the biopharmaceutical company’s stock, down from their prior price objective of $9.00.

Several other research analysts also recently commented on the company. Truist Financial raised their price objective on Sage Therapeutics from $8.00 to $9.00 and gave the stock a “hold” rating in a research note on Tuesday. HC Wainwright reissued a “neutral” rating and issued a $12.00 target price on shares of Sage Therapeutics in a report on Tuesday. Bank of America assumed coverage on shares of Sage Therapeutics in a research note on Tuesday, March 11th. They set an “underperform” rating and a $5.00 target price on the stock. Wall Street Zen lowered shares of Sage Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, June 7th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Sage Therapeutics in a research note on Monday. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $8.93.

Sage Therapeutics Trading Up 0.6%

SAGE opened at $9.12 on Tuesday. The firm’s 50 day simple moving average is $7.07 and its two-hundred day simple moving average is $6.91. The company has a market capitalization of $571.09 million, a PE ratio of -1.57 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 announced its earnings results on Tuesday, April 29th. The biopharmaceutical company reported ($1.01) EPS for the quarter, missing analysts’ consensus estimates of ($0.99) by ($0.02). The company had revenue of $14.06 million during the quarter, compared to the consensus estimate of $14.12 million. Sage Therapeutics had a negative return on equity of 68.99% and a negative net margin of 747.63%. Sage Therapeutics’s revenue for the quarter was up 78.0% compared to the same quarter last year. During the same period in the prior year, the business posted ($1.80) earnings per share. Equities analysts forecast that Sage Therapeutics will post -3.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sage Therapeutics

Several hedge funds have recently modified their holdings of the stock. Millennium Management LLC grew its stake in Sage Therapeutics by 8.3% during the fourth quarter. Millennium Management LLC now owns 1,623,785 shares of the biopharmaceutical company’s stock valued at $8,817,000 after acquiring an additional 124,720 shares in the last quarter. ProShare Advisors LLC lifted its stake in Sage Therapeutics by 31.2% in the 4th 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 in the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of Sage Therapeutics by 108.7% during the 4th quarter. Thrivent Financial for Lutherans now owns 74,625 shares of the biopharmaceutical company’s stock valued at $405,000 after purchasing an additional 38,876 shares during the last quarter. BNP Paribas Financial Markets grew its position in shares of Sage Therapeutics by 9.3% during the fourth quarter. BNP Paribas Financial Markets now owns 77,560 shares of the biopharmaceutical company’s stock valued at $421,000 after purchasing an additional 6,574 shares in the last quarter. Finally, Jane Street Group LLC grew its position in shares of Sage Therapeutics by 103.1% during the fourth quarter. Jane Street Group LLC now owns 462,004 shares of the biopharmaceutical company’s stock valued at $2,509,000 after purchasing an additional 234,528 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.