Sage Therapeutics (NASDAQ:SAGE) PT Set at $9.00 by Truist Financial

Sage Therapeutics (NASDAQ:SAGE) has been given a $9.00 target price by equities researchers at Truist Financial in a report issued on Tuesday, MarketBeat reports. The brokerage presently has a “hold” rating on the biopharmaceutical company’s stock. Truist Financial’s price target indicates a potential downside of 1.42% from the stock’s previous close.

SAGE has been the subject of several other reports. HC Wainwright reaffirmed a “neutral” rating and set a $12.00 price target on shares of Sage Therapeutics in a research note on Tuesday. Canaccord Genuity Group raised their price target on shares of Sage Therapeutics from $8.00 to $8.50 and gave the stock a “hold” rating in a research note on Tuesday. Wall Street Zen cut shares of Sage Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, June 7th. 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 price target for the company. Finally, Needham & Company LLC restated a “hold” rating on shares of Sage Therapeutics in a report on Monday. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Sage Therapeutics presently has an average rating of “Hold” and an average target price of $8.93.

Sage Therapeutics Stock Performance

Shares of SAGE stock opened at $9.13 on Tuesday. The company has a market capitalization of $571.72 million, a P/E ratio of -1.57 and a beta of 0.18. The company’s 50 day moving average price is $7.11 and its two-hundred day moving average price is $6.93. Sage Therapeutics has a 52 week low of $4.62 and a 52 week high of $13.47.

Sage Therapeutics (NASDAQ:SAGE) last issued its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported ($1.01) earnings per share 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 68.99% and a negative net margin of 747.63%. Sage Therapeutics’s revenue was up 78.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.80) earnings per share. Analysts forecast that Sage Therapeutics will post -3.52 earnings per share for the current year.

Hedge Funds Weigh In On Sage Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. AlphaQuest LLC acquired a new position in shares of Sage Therapeutics in the first quarter valued at $32,000. Headlands Technologies LLC acquired a new position in shares of Sage Therapeutics in the first quarter valued at $37,000. Picton Mahoney Asset Management increased its holdings in shares of Sage Therapeutics by 126.0% in the fourth quarter. Picton Mahoney Asset Management now owns 6,423 shares of the biopharmaceutical company’s stock valued at $35,000 after purchasing an additional 3,581 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Sage Therapeutics by 16,118.0% in the first quarter. GAMMA Investing LLC now owns 8,109 shares of the biopharmaceutical company’s stock valued at $64,000 after purchasing an additional 8,059 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Sage Therapeutics in the fourth quarter valued at $49,000. 99.22% of the stock is currently owned by institutional investors and hedge funds.

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.