Sage Therapeutics (NASDAQ:SAGE) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Sage Therapeutics (NASDAQ:SAGE) to a hold rating in a research note issued to investors on Saturday morning.

Other analysts have also recently issued research reports about the stock. HC Wainwright reissued a “neutral” rating and set a $12.00 price objective on shares of Sage Therapeutics in a report on Tuesday, June 17th. Robert W. Baird lifted their price target on shares of Sage Therapeutics from $7.00 to $9.00 and gave the stock a “neutral” rating in a research note on Friday, June 20th. Scotiabank cut shares of Sage Therapeutics from a “strong-buy” rating to a “hold” rating and reduced their price target for the company from $12.00 to $9.20 in a research report on Tuesday, July 8th. Truist Financial set a $9.00 price objective on shares of Sage Therapeutics and gave the company a “hold” rating in a research note on Tuesday, June 17th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Sage Therapeutics in a research report on Monday, June 16th. One research analyst has rated the stock with a sell rating and fifteen have given a hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $8.02.

Sage Therapeutics Price Performance

Sage Therapeutics stock opened at $8.68 on Friday. The stock has a market cap of $543.54 million, a PE ratio of -1.78 and a beta of 0.26. The stock’s fifty day moving average is $8.38 and its two-hundred day moving average is $7.68. Sage Therapeutics has a 1-year low of $4.62 and a 1-year high of $11.44.

Sage Therapeutics (NASDAQ:SAGE) last issued its earnings results on Wednesday, July 30th. The biopharmaceutical company reported ($0.79) earnings per share for the quarter, topping the consensus estimate of ($0.96) by $0.17. The business had revenue of $31.66 million for the quarter, compared to analyst estimates of $16.69 million. Sage Therapeutics had a negative return on equity of 67.10% and a negative net margin of 427.78%. The business’s quarterly revenue was up 266.0% on a year-over-year basis. During the same quarter last year, the company earned ($1.70) EPS. On average, research analysts expect that Sage Therapeutics will post -3.52 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of SAGE. AlphaQuest LLC purchased a new stake in Sage Therapeutics in the 1st quarter valued at approximately $32,000. Headlands Technologies LLC acquired a new stake in shares of Sage Therapeutics in the 1st quarter valued at approximately $37,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Sage Therapeutics in the 4th quarter valued at approximately $49,000. GAMMA Investing LLC boosted its stake 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 buying an additional 8,059 shares in the last quarter. Finally, FORA Capital LLC acquired a new position in Sage Therapeutics during the first quarter worth $83,000. Institutional investors and hedge funds own 99.22% of the company’s stock.

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.