Brokerages Set Sage Therapeutics, Inc. (NASDAQ:SAGE) Target Price at $8.87

Shares of Sage Therapeutics, Inc. (NASDAQ:SAGE - Get Free Report) have been given a consensus rating of "Hold" by the seventeen brokerages that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and two have given a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $8.87.

A number of brokerages have recently weighed in on SAGE. Wall Street Zen lowered shares of Sage Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, June 7th. Bank of America began 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. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Sage Therapeutics in a research note on Friday, April 25th.

Sage Therapeutics Price Performance

Sage Therapeutics stock traded up $0.10 during trading hours on Wednesday, reaching $6.70. The stock had a trading volume of 647,192 shares, compared to its average volume of 1,156,882. The stock has a market cap of $419.56 million, a PE ratio of -1.02 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 company has a fifty day simple moving average of $6.97 and a 200-day simple moving average of $6.86.

Sage Therapeutics (NASDAQ:SAGE - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported ($1.01) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.99) by ($0.02). The firm 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 68.18% and a negative net margin of 971.50%. Sage Therapeutics's revenue was up 78.0% on a year-over-year basis. During the same period last year, the business earned ($1.80) EPS. Research analysts predict that Sage Therapeutics will post -3.52 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Caligan Partners LP purchased a new position in shares of Sage Therapeutics in the 4th quarter valued at approximately $16,575,000. TIG Advisors LLC purchased a new position in Sage Therapeutics during the 1st quarter worth approximately $21,722,000. Boothbay Fund Management LLC acquired a new stake in shares of Sage Therapeutics during the 4th quarter worth approximately $7,540,000. ADAR1 Capital Management LLC grew its stake in shares of Sage Therapeutics by 3,767.2% during the 1st quarter. ADAR1 Capital Management LLC now owns 742,495 shares of the biopharmaceutical company's stock worth $5,903,000 after purchasing an additional 723,295 shares during the period. Finally, Nuveen LLC acquired a new stake in shares of Sage Therapeutics during the 1st quarter worth approximately $4,757,000. 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.