Sage Therapeutics (NASDAQ:SAGE) Given New $8.50 Price Target at Canaccord Genuity Group

Sage Therapeutics (NASDAQ:SAGE) had its price objective upped by Canaccord Genuity Group from $8.00 to $8.50 in a research note issued to investors on Tuesday morning,Benzinga reports. The brokerage currently has a hold rating on the biopharmaceutical company’s stock.

Other research analysts have also issued research reports about the stock. Bank of America began coverage on shares of Sage Therapeutics in a research note on Tuesday, March 11th. They issued an “underperform” rating and a $5.00 price objective on the stock. Needham & Company LLC restated a “hold” rating on shares of Sage Therapeutics in a research note on Monday. Finally, Wall Street Zen lowered shares of Sage Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, June 7th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Sage Therapeutics has a consensus rating of “Hold” and an average target price of $8.93.

Sage Therapeutics Stock Performance

Shares of NASDAQ:SAGE opened at $9.13 on Tuesday. The company has a market cap of $571.72 million, a PE ratio of -1.57 and a beta of 0.18. Sage Therapeutics has a 52 week low of $4.62 and a 52 week high of $13.47. The firm has a 50 day simple moving average of $7.16 and a 200 day simple moving average of $6.95.

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 firm had revenue of $14.06 million during the quarter, compared to analysts’ expectations of $14.12 million. Sage Therapeutics had a negative net margin of 747.63% and a negative return on equity of 68.99%. The firm’s revenue was up 78.0% compared to the same quarter last year. During the same quarter last year, the company posted ($1.80) EPS. On average, equities analysts predict that Sage Therapeutics will post -3.52 earnings per share for the current year.

Institutional Trading of Sage Therapeutics

A number of hedge funds have recently bought and sold shares of SAGE. US Bancorp DE lifted its holdings in shares of Sage Therapeutics by 22.3% during the 4th quarter. US Bancorp DE now owns 12,430 shares of the biopharmaceutical company’s stock worth $67,000 after acquiring an additional 2,268 shares during the period. Teacher Retirement System of Texas lifted its holdings in shares of Sage Therapeutics by 21.6% during 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 lifted its holdings in shares of Sage Therapeutics by 126.0% during 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. AlphaQuest LLC bought a new position in shares of Sage Therapeutics during the 1st quarter worth about $32,000. Finally, ProShare Advisors LLC lifted its holdings in shares of Sage Therapeutics by 31.2% during 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 period. 99.22% of the stock is 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.