Sage Therapeutics (NASDAQ:SAGE) Price Target Raised to $9.00 at Robert W. Baird

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

A number of other analysts have also commented on the company. Bank of America initiated coverage on Sage Therapeutics in a research note on Tuesday, March 11th. They issued an “underperform” rating and a $5.00 price target for the company. Needham & Company LLC reissued a “hold” rating on shares of Sage Therapeutics in a research note on Monday, June 16th. Canaccord Genuity Group raised their price objective on shares of Sage Therapeutics from $8.00 to $8.50 and gave the stock a “hold” rating in a report on Tuesday. Piper Sandler cut Sage Therapeutics from a “strong-buy” rating to a “hold” rating and cut their price objective for the company from $9.00 to $8.50 in a research report on Tuesday. Finally, HC Wainwright restated a “neutral” rating and issued a $12.00 target price on shares of Sage Therapeutics in a research note on Tuesday. Two equities research 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 has an average rating of “Hold” and a consensus target price of $8.93.

Sage Therapeutics Trading Up 1.9%

NASDAQ SAGE opened at $9.30 on Friday. The stock has a 50-day moving average of $7.20 and a 200-day moving average of $6.98. Sage Therapeutics has a 1-year low of $4.62 and a 1-year high of $13.47. The firm has a market cap of $582.37 million, a PE ratio of -1.60 and a beta of 0.18.

Sage Therapeutics (NASDAQ:SAGE) last posted its quarterly 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). Sage Therapeutics had a negative net margin of 747.63% and a negative return on equity of 68.99%. The firm had revenue of $14.06 million for the quarter, compared to the consensus estimate of $14.12 million. During the same quarter in the prior year, the company earned ($1.80) earnings per share. The company’s quarterly revenue was up 78.0% compared to the same quarter last year. As a group, equities research 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 institutional investors and hedge funds have recently modified their holdings of the stock. US Bancorp DE grew its position in Sage Therapeutics by 22.3% during the 4th quarter. US Bancorp DE now owns 12,430 shares of the biopharmaceutical company’s stock valued at $67,000 after purchasing an additional 2,268 shares during the last quarter. Teacher Retirement System of Texas raised its holdings in Sage Therapeutics by 21.6% in the fourth quarter. Teacher Retirement System of Texas now owns 13,768 shares of the biopharmaceutical company’s stock worth $75,000 after buying an additional 2,446 shares during the last quarter. Picton Mahoney Asset Management increased its position in shares of Sage Therapeutics by 126.0% during the fourth quarter. Picton Mahoney Asset Management now owns 6,423 shares of the biopharmaceutical company’s stock valued at $35,000 after acquiring an additional 3,581 shares in the last quarter. AlphaQuest LLC purchased a new position in Sage Therapeutics in the 1st quarter worth approximately $32,000. Finally, ProShare Advisors LLC raised its holdings 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 acquiring an additional 4,350 shares during the last quarter. 99.22% of the stock is currently owned by institutional investors.

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.